It is registered
Ministry of Justice
Republic of Moldova
On July 23, 2018 No. 1346
of July 19, 2018 No. 170
About approval of Regulations about placement, trade and the redemption of government securities in the form of record on the account
Based on part (1) the Art. 11, the item c) parts (1) Art. 27 and Art. 40 of the Law on National Bank of Moldova No. 548-XIII of July 21, 1995 (pereopublikovan: The official monitor of the Republic of Moldova, 2015, Art. No. 297-300, 544), with subsequent changes, Art. 16-19 of the Law on debt of the public sector, the state guarantees and the state recrediting No. 419-XVI of December 22, 2006 (pereopublikovan: The official monitor of the Republic of Moldova, 2014, Art. No. 397-399, 704), with subsequent changes, DECIDES: Executive committee of National Bank of Moldova
2. Consider invalid the Regulations about placement and the redemption of government securities in the form of records on accounts approved by the Resolution of Administrative board of National Bank of Moldova No. 96 of May 17, 2013 and the Ministry of Finance at No. 13/2-1/133 of May 17, 2013. (The official monitor of the Republic of Moldova, 2013, the Art. No. 125-129, 887) registered by the Ministry of Justice of the Republic of Moldova at No. 919 of June 10, 2013.
3. Banks which on the date of entry into force of this resolution signed with National Bank of Moldova agreements on accomplishment of functions of the primary dealer in the market of government securities shall terminate and sign them with the Ministry of Finance new agreements according to provisions of the regulations specified in Item 1. The agreements signed with the Ministry of Finance become effective from the date of agreement cancelation, concluded with National Bank of Moldova.
4. Banks which on the date of entry into force of this resolution signed agreements on the participant of the primary market of government securities with National Bank of Moldova shall terminate them.
Vice-chairman of Executive committee of National Bank of Moldova
Approved by the Resolution of Executive committee of National Bank of Moldova of July 19, 2018, No. 170
Approved by the Order of the Minister of Finance of July 19, 2018, No. 129
1. These regulations establish rules and procedures of placement, trade and the redemption of the government securities (further GTsB) issued by the Ministry of Finance of the Republic of Moldova in the domestic market in the form of record on the account, selection criterion and evaluation procedure of the results achieved by primary dealers, their rights and obligation.
These regulations do not extend to the transactions with GTsB performed in the controlled market and within multilateral trade system.
2. The National Bank of Moldova is effective as the agent of the state based on the Law on National Bank of Moldova No. 548-XIII of July 21, 1995, the Law No. 419-XVI of December 22, 2006 on debt of the public sector, the state guarantees and the state recrediting and also coordination of activities with the Ministry of Finance about further market development of GTsB bears responsibility for the organization and carrying out from name and on specifying of the Ministry of Finance of auctions for sale of GTsB in the primary market.
3. The National Bank performs activities for placement/sale of GTsB according to requirements of these regulations and with respect for the principles concerning transparency of the market and conditions of access, the used procedures in carrying out transactions selling GTsB, and also investor protection and the non-discriminatory attitude towards participants of the market of GTsB.
4. Requirements of these regulations are applied to the Ministry of Finance as the issuer of GTsB, to National Bank as the agent of the state, to primary dealers and their clients, and also to banks which are not primary dealers when implementing secondary market transactions.
5. In these regulations the concepts determined by the Law No. 419-XVI of December 22, 2006 on debt of the public sector, the state guarantees and the state recrediting are applied.
6. For the purpose of these regulations the following concepts are also determined:
1) treasury obligations (further CO) - The GTsB issued with discount and redeemed on repayment date at par value with circulation period up to one year;
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