RESOLUTION OF NATIONAL BANK OF THE REPUBLIC OF MOLDOVA

of December 19, 2024 No. 329

About approval, change and cancellation of regulations of National Bank of Moldova (about the requirement to covering of liquidity and the requirement to stable financing)

According to Item and) article 44 of the Law No. 548/1995 on National Bank of Moldova (published in Monitorul Oficial al Republicii Moldova of 2015 of Art. No. 297-300, 544) with subsequent changes, the Art. 76, 84 and 91 parts (1) the Law No. 202/2017 on activities of banks (Monitorul Oficial al Republicii Moldova, 2017, Art. No. 434-439, 727), with subsequent changes, and for the purpose of transposition:

– Art. 1 Item (c); Art. 411 (Item 1 Items (a), (b), (d), (e) - (h), (j); 2 - 5; 8 - 17); Art. 412, part (1) and (2); Art. 413, part (1), (3) and (4); Art. 414; Art. 415, part (1), (2) and (3), Items (a) and (b); Art. 428a; Art. 428b; Art. 428c; Art. 428d; Art. 428e; Art. 428F, part (1) and (2); Article 428H, part (1); Art. 428i; Art. 428j; Art. 428k; Art. 428l; Art. 428m; Art. 428n; Art. 428o; Art. 428p; Art. 428q; Art. 428p; Art. 428s; Art. 428u; Art. 428v; Art. 428x; Art. 428y; Art. 428ad; Art. 428ae; Art. 428af; Art. 428ag; the Art. of 428ah of Regulations No. 575/2013 of the European Parliament and Council of June 26, 2013 about prudential requirements to credit institutes and investment companies and modification of Regulations (EU) No. 648/2012, of the European Union published in the Official magazine of L 176 of June 27, 2013, CELEX: 32013R0575, with the last changes made by Regulations (EU) 2019/876 European Parliament and Council of May 20, 2019;

– The Art. 2, part (2) and (3), Items (a) – (c) and (e); Art. 3 (Item 6); the Art. 4, item 4 part (1) - (5); Art. 5; Art. 6; Art. 7; Art. 8; Art. 9; the Art. 10, part (1), Items (a) - (d) and part (2); Art. 11, Art. 12 part (1) Items (b) and (c), part (2) Items (b) and (c); Art. 15, part (1) Item (b), part (2) Items (a), (b), (d) and (h); part (3), part (4) first offer, Item (a) and last offer, part (5); the Art. 17, part (1) Items (a) and (c), part (2) - (4); Art. 18; Art. 19 part (1) and (2); Art. 20; Art. 21; Art. 22; Art. 23 part (1) and (2); the Art. 24 part (1) - (3); Art. 25; Art. 26; the Art. 27 part (1), (2), (4) - (6); Art. 28; Art. 29 part (1); the Art. 30 part (1) - (7), (12); the Art. 31 parts (1) - (5), (8); Art. 31a; Art. 32; Art. 33; Art. 34 part (1); Art. 39; Appendix I and Appendix II to the Delegated regulations (EU) of 2015/61 Commission of October 10, 2014 supplementing Regulations (EU) with No. 575/2013 of the European Parliament and Council about requirements to the liquidity covering for credit institutes published in the Official Magazine of the European Union by L 11 of January 17, 2015, CELEX: 32015R0061, with the last changes made by the Delegated regulations (EU) 2018/1620 Commissions of July 13, 2018;

– The delegated regulations (EU) 2017/208 Commissions of October 31, 2016 supplementing Regulations (EU) with No. 575/2013 of the European Parliament and Council about regulating technical standards for additional outflow of liquidity which satisfies the needs for providing resulting from influence of the negative market scenario on transactions with derivatives of the organization published in the Official magazine of the European Union by L 33 of February 8, 2017, CELEX: 32017R0208,

The executive committee of National Bank of Moldova DECIDES:

1. Approve Regulations about liquidity according to appendix.

2. The resolution of Executive committee of National Bank of Moldova No. 44/2020 on approval of Regulations on requirements of covering of the needs for liquidity for banks (to recognize Monitorul Oficial al Republicii Moldova, 2020, No. 87-93, the Art. 317) registered in the Ministry of Justice of the Republic of Moldova at No. 1543/2020, invalid.

3. The regulations about bank liquidity approved by AS of NBM, the protocol No. 28 of 8.08.1997 (Monitorul Oficial al Republicii Moldova, 1997, N 64-65, Art. 105), to declare invalid.

4. In the Regulations about requirements to publication of information by banks approved by the Resolution of Executive committee of National Bank of Moldova No. 158/2020 (Monitorul Oficial al Republicii Moldova, 2020, the Art. No. 188-192, 667) registered in the Ministry of Justice of the Republic of Moldova No. 1581/2020, to make the following changes:

1) In Item 25:

a) the subitem 2) of d) will have the following content:

"d) liquidity indicators";

b) 5) to declare the subitem invalid.

2) In appendix No. 1 in the table:

a) the name of column 1 will have the following content: "month under report / reporting quarter";

b) the name of column 2 will have the following content: "the month previous reporting / the quarter prior reporting";

c) lines with 4.1 are excluded till 4:11;

d) after line 4 the next lines are entered:

4.11	Coverage ratio of liquidity 14-1
4.1.11	Total quick assets with the high quality level (HQLA) (the weighed value – average)	pour one million
4.1.2-1	Cash outflow – the total weighed value	pour one million
4.1.3-1	Cash inflow – the total weighed value	pour one million
4.1.4-1	Total net cash outflow (the corrected value)	pour one million
4.1.5-1	Coverage ratio of liquidity (LCR)	%
4.2-1	Coefficient of net stable funding 14-2
4.2.1-1	The available stable funding	pour one million
4.2.2-1	Required stable funding	pour one million
4.2.3-1	Coefficient of net stable funding (NSFR)	%

3) In the Section "Method of Calculation of Some Indicators":

a) Items 14, 15 and 16 to recognize invalid;

b) state Item 14-1 in the following edition:

"14-1. The coverage ratio of liquidity is calculated according to the Regulations about liquidity approved by the Resolution of Executive committee of National Bank of Moldova No. 329/2024";

c) Add with Item 14-2 of the following content:

"14-2. The coefficient of net stable funding is calculated according to the Regulations about liquidity approved by the Resolution of Executive committee of National Bank of Moldova No. 329/2024.

5. In the subitem 3 of Item 6 of appendix No. 4 of Regulations on bases of the management of activities of banks approved by the Resolution of Executive committee of National Bank of Moldova No. 322/2018, (Monitorul Oficial al Republicii Moldova, 2019, No. 1-5, the Art. 56) registered in the Ministry of Justice of the Republic of Moldova at No. 1400/2018, the text "The regulations about requirements of covering of needs for liquidity for banks approved by the Resolution of Executive committee of National Bank of Moldova No. 44/2020" to replace with the text of "The regulations about liquidity approved by the Resolution of Executive committee of National Bank of Moldova No. 329/2024"

6. In the subitem 3) Item 5 of Regulations on supervision of banks on the consolidated basis, the Executive committee of National Bank of Moldova No. 101/2020 approved by the Resolution (Monitorul Oficial al Republicii Moldova, 2020, No. 118-123, the Art. 463) after the text "part (" to add 2) with the text "and (3)".

7. The resolution becomes effective since July 1, 2025, except for Item 3, which becomes effective since January 1, 2026.

Chairman

Executive committee Anka-Dana DRAGU

No. 329. Chisinau, on December 19, 2024.

It is approved

Resolution of Executive committee

National Bank of Moldova

No. 329 of December 19, 2024.

Regulations about liquidity

These Regulations include:

– Art. 1 Item (c); St. 411 (Item 1 Item (a), (b), (d), (e) - (h), (j); 2 - 5; 8 - 17); St. 412, part (1) and (2); St. 413, part (1), (3) and (4); St. 414; St. 415, part (1), (2) and (3), Item (a) and (b); Art. 428a; St. 428b; St. 428s; St. 428d; St. 428e; St. 428f, part (1) and (2); St. 428h, part (1); St. 428i; St. 428j; St. 428k; Art. 428l; St. 428 m; St. 428n; St. 428o; St. 428r; St. 428q; St. 428r; St. 428s; St. 428u; St. 428v; St. 428x; St. 428y; St. 428ad; St. 428ae; St. 428af; St. 428ag; St. 428ah of Regulations (EU) No. 575/2013 of the European Parliament and Council of the June 26, 2013 about prudential requirements to credit institutions and investment firms making changes to Regulations (EU) No. 648/2012, of the European Union published in the Official magazine of L 176 of June 27, 2013, CELEX: 32013R0575, with the last amendments made by Regulations (EU) 2019/876 European parliament and Council of May 20, 2019;

– The Art. 2, part (2) and (3), Item (a) – (c) and (e); Art. 3 (Item 6); St. 4, part (1) - (5); St. 5; Art. 6; St. 7; St. 8; St. 9; St. 10, part (1), Item (a) - (d) and part (2); St. 11, St. 12th part (1) Item (b) and (c), part (2) Item (b) and (c); St. 15, part (1) Item (b), part (2) Item (a), (b), (d) and (h); part (3), part (4) first offer, Item (a) and last offer, part (5); St. 17, part (1) Item (a) and (c), part (2) - (4); St. 18; Art. 19. part (1) and (2); St. 20; St. 21; Art. 22; St. 23, part (1) and (2); The Art. 24 part (1) - (3); St. 25; St. 26; The Art. 27 part (1), (2), (4) - (6); Art. 28; Art. 29 part (1); The Art. 30 parts (1) - (7), (12); The Art. of 31 parts (1) - (5), (8); Art. 31a; Art. 32; Art. 33; Art. 34 part (1); Art. 39; Appendix I and Appendix II to the Delegated regulations (EU) of 2015/61 Commission of October 10, 2014 supplementing Regulations (EU) No. 575/2013 of the European Parliament and Council about requirements to liquidity covering for credit institutes published in the Official magazine of the European Union by L 11 of January 17, 2015, CELEX: 32015R0061, with the last changes made by the Delegated regulations (EU) 2018/1620 Commissions of July 13, 2018;

– The delegated regulations (EU) 2017/208 Commissions of October 31, 2016 supplementing Regulations (EU) No. 575/2013 of the European Parliament and Council about regulating technical standards for additional outflow of liquidity which satisfies the needs for providing resulting from influence of the negative market scenario on transactions with derivatives of organization published in the Official magazine of the European Union by L 33 of February 8, 2017, CELEX: 32017R0208,

Section I. General provisions

Chapter I. Application of requirements to liquidity

1. These regulations establish rules which shall observe banks, being legal entities of the Republic of Moldova, and also branches of banks of other states in the Republic of Moldova (further – banks) for the purpose of determination, calculation and the reporting:

1.1. the need for liquidity as the bank liquidity buffer relation to net outflow of liquidity during the 30-day period of severe stress (further – crisis);

1.2. The need for stable financing as the relation between available stable financing of Bank and the stable financing required by it.

2. In addition to the obligatory indicators specified in Item 1, for the purpose of providing supervisory authorities with proper tool kit for risk assessment of liquidity and simplification of process of internal assessment of sufficiency of liquidity (ILAAP) banks shall report to National Bank of Moldova about the additional indicators of monitoring of liquidity specified in Chapter VII.

3. Banks in individual procedure observe provisions of these Regulations.

4. Banks in amount and according to the methods provided by Regulations about supervision of banks on the consolidated basis, the approved Resolution of Executive Committee of National Bank of Moldova (further – PIK of NBM) No. 101/2020 (further – Regulations No. 101/2020), conform to the requirements stated in the Section II proceeding from their consolidated provision and all following provisions:

4.1. The assets in other states belonging to subsidiary in other state can be recognized as quick assets for the purposes of consolidation if they can be considered as quick assets according to the national legal system of this state establishing the requirement about liquidity and if they satisfy to one of the following conditions:

4.1.1. assets conform to all requirements stated in Chapter II, the Section II;

4.1.2. the property does not conform to the specific requirement stated in subparts 2 and 3 of part 2 of Chapter II, Section II for the cost of their issue, but meets all other requirements established in this Chapter.

Assets which can be acknowledged according to subitem 4.1. 2, can be acknowledged only within the size of the net outflow of stressful liquidity registered in currency in which they are expressed and generated by the same affiliated enterprise;

4.2. outflow of liquidity from affiliated enterprise in other state to which higher coefficients of outflow are applied than those which are specified in the Section II of Chapter III, according to the national legal system of this state determining the need for liquidity are subject to consolidation according to higher rates established by the national legal system of this state;

4.3. inflow of liquidity to subsidiary company in other state to which lower coefficients of outflow are applied than those which are specified in the Section II of Chapter III are subject to consolidation according to lower rates established by the national legal system of this state according to the national legal system of this state;

4.4. At the consolidated level the amount of receipts from specialized bank specified in Items 126 and 127, is recognized only outflow amount limits from the same specialized bank.

5. If the coefficient of net stable financing provided by the Section III is applied on the consolidated basis according to Regulations No. 101/2020, following provisions are applied:

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