RESOLUTION OF NATIONAL BANK OF THE REPUBLIC OF MOLDOVA

of April 16, 2020 No. 101

About approval of Regulations about supervision of banks on the consolidated basis

Based on part (2) the Art. 5, parts (1) the Art. 59, the Art. 116, 121 Law No. 202/2017 on activities of banks (Monitorul Oficial al Republicii Moldova, 2017, No. 434-439, the Art. 727), with subsequent changes, the Executive committee of National Bank of Moldova DECIDES:

1. Approve Regulations about supervision of banks on the consolidated basis it (is applied).

2. This resolution is published in the Official monitor of the Republic of Moldova and becomes effective since 01.01.2021.

Approved by the Resolution of Executive committee of National Bank of the Republic of Moldova of April 16, 2020, No. 101

Regulations about supervision of banks on the consolidated basis

These Regulations are transposition:

- parts (1) - (3) Art. 11; parts (1), (2) Art. 13; parts (1), (3) Art. 14; parts (1) - (6), (8) Art. 18; Art. 19 and parts (1) Art. 24 of Regulations (EU) No. 575/2013 of. The European Parliament and Council of the June 26, 2013 about prudential requirements for credit institutes and investment firms making changes to Regulations (EU) No. 648/2012 (the text with relevance of EEA) published in the Official magazine of the European Union by L 176 of June 27 2013, and with the last amendments made by Regulations of the Commission (EU) No. 2019/630 of the European Parliament and Council of April 17, 2019;

- parts (2), (3) Art. 108 and parts (1) - (3) Art. 111 of the Directive 2013/36/EU of the European Parliament and Council of June 26, 2013 about the annual financial reporting, consolidated financial statements and the related reports of certain types of the companies making amendments to the Directive 2006/43/EU of the European Parliament and Council and canceling directives of Council 78/660/EEC and 83/349/EEC (the text with relevance of EEA), published in the Official magazine of the European Union by L 182 of June 29, 2013 and with the last amendments made by the Directive 2018/843 of the European Parliament and Council of May 30, 2018.

Chapter I Subject, scope

1. These regulations establish:

1) the level of application of the prudential requirements provided in the Section III of the Law No. 202/2017 on activities of banks (further in the text: The law No. 202/2017), on condition of implementation of supervision on the consolidated basis, and also exceptions and variations from application of these requirements;

2) consolidation framework (the sphere of supervision of prudential consolidation), including situations when certain subjects of group are not included in this framework;

3) determines consolidation methods;

4) requirements for supervision of intergroup transactions with holding societies with the mixed activities;

5) necessary information for National Bank for implementation of supervision on the consolidated basis.

2. The terms, concepts and expressions used in these regulations have the values provided in the Law No. 202/2017.

3. For the purposes of these regulations the following terms will have the following values:

participation - ownership, directly or indirectly, at least 20% of voting powers or the subject's capital;

the transaction of the essential sizes - any transaction exceeding 5% of the acceptable capital according to the Regulations about large podverzhennost of bank approved by the Resolution of executive committee of National Bank of Moldova No. 09/2019 of year.

4. Banks, the legal entities of the Republic of Moldova specified in Art. 109 of the Law No. 202/2017 are exposed to the supervision on the consolidated basis performed by National Bank of Moldova.

Chapter II the Level of application of prudential requirements in the conditions of implementation of supervision on the consolidated basis

5. Without prejudice to obligations on observance of prudential requirements at the individual level, parent banks at the level of the Republic of Moldova shall carry out on the basis of the financial reporting and the consolidated prudential reports according to the methods provided in Chapter IV, the obligations concerning:

1) requirements to own means and requirements of the capital provided by Art. 60-61 of the Law No. 202/2017 and regulations published for application of these provisions;

2) the requirements for large podverzhennost provided by Art. 74 of the Law No. 202/2017, and regulations published for its application;

3) the requirements for liquidity provided by part (2) and (3) Art. 76 of the Law No. 202/2017, and regulations published for its application;

4) the requirements for indicator of effect of the lever provided by Art. 77 of the Law No. 202/2017, and regulations published for its application;

5) the requirements to publication provided by part (1) Art. 91 of the Law No. 202/2017, and regulations published for its application;

6) internal process of assessment of the capital adequacy and internal liquidity concerning risks provided by Art. 78-79 of the Law No. 202/2017.

6. Without prejudice to obligations on observance of prudential requirements at the individual level, banks, the legal entities of the Republic of Moldova controlled by parent holding financial society or the mixed parent holding financial society shall fulfill the obligations specified in the item 0, on the basis of the financial reporting and prudential consolidated statements of the relevant holding financial society or joint holding financial society according to the methods provided by Chapter IV.

7. If several banks, legal entities of the Republic of Moldova and other states are controlled by parent holding financial society at the level of other state, provisions of item 6 are applied only to bank which is controlled on the consolidated basis by National Bank of Moldova according to provisions of item 4.

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