RESOLUTION OF NATIONAL BANK OF THE REPUBLIC OF MOLDOVA

of March 27, 2020 No. 81

About some measures concerning classification of the loans granted to legal entities

In connection with the Resolution of Parliament of the Republic of Moldova No. 55 of March 17, 2020 about the announcement of emergency state, for the purpose of maintenance of financial stability and capacity to act of banking sector, according to the Art. 5 parts (1) Item d), 11, 27, 44 Laws No. 548-XIII of 21.07.1995 about National Bank of Moldova (it is reissued in the Official monitor of the Republic of Moldova, 2015, by Art. No. 297-300, 544), with subsequent changes, the Art. 4 parts (1), Art. 5 (1), 83rd Item b), 99 Laws No. 202 of October 6, 2017 on activities of banks (The official monitor of the Republic of Moldova 2017, No. 434-439, the Art. 727), with subsequent changes, DECIDES: Executive committee of National Bank of Moldova

1. Change (prolongation or renegotsiation) according to Item 5 of this decision till June 30, 2020 before the expiration of payments and/or payment amount, with repayment periods during the period from acceptance date of this decision till May 31, 2020 for the credits of legal persons who banks about temporary difficulties in case of repayment of the credits and payments in connection with the negative economic consequences caused by COVID-19, notified will not classify automatically the corresponding credits in more tough category according to the Regulations regulations on classification of assets and contingent obligations approved by the Resolution of administrative board of National Bank of Moldova No. 231 of October 27, 2011.

2. In departure from regulations of Item 30 of Regulations No. 231/2011 on classification of assets and contingent obligations, in case prolongation or renegotsiation by bank of the credits mentioned in the item 1, classification can be kept in the category determined by bank on acceptance date of this decision in the conditions of availability of outstanding payments for date of prolongation and/or renegotsiation which were not paid from acceptance date of this decision and till June 30, 2020.

3. This decision will not lead to classification of the loans granted to the debtors mentioned in Item 1, in the category, more profitable, than those which exist on acceptance date of this decision.

4. Item 1 of this resolution does not extend to the loans granted to legal entities after acceptance date of this decision.

5. In case of decision making about prolongation or renegotsiation of the loans granted to the borrowers mentioned in Item 1, banks will analyze each debtor separately taking into account internal regulations, treaty stipulations with the corresponding borrowers, including their solvency and they will provide effective management of liquidity, and also prudential management of other connected risks.

6. Banks provide permanent monitoring of the credits provided in this decision and provide that calculation of discounts for losses for these credits reflects financial position of borrowers.

7. This resolution becomes effective from the date of publication in the Official monitor of the Republic of Moldova and is effective till June 30, 2020.

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