RESOLUTION OF NATIONAL BANK OF THE REPUBLIC OF MOLDOVA

of February 26, 2026 No. 38

About introduction of amendments to the Resolution of Executive committee of National Bank of Moldova No. 111/2018 on approval of Regulations about approach to credit risk for banks according to the standardized approach

Based on Art. 64-65 of the Law on activities of banks No. 202/2017 (The official monitor of the Republic of Moldova, 2017, No. 434-439, the Art. 727) the Executive committee of National Bank of Moldova DECIDES:

This resolution is transposition of Art. 4 (1) the item (7), (56), (75), (75a), (75b), (75c), (78a), (78b), (152): Art. 5 of the item (10), (11); Art. 107 (2); Art. 111 (1) - (5); Art. 112 of the item (i), (k) and (e); Art. 113 (3); Art. 115 (-1) - (5); Art. 116 (1) - (2), (4) - (5); Art. 117 (1) paragraph 1, table (2) item o), p); Art. 118 of the item (a); Art. 119 (5); Art. 120 (1) and (2); Art. 121 (1) the item a) - c), (2) - (3); Art. 122 (1) - (2); Art. 122a; Art. 123 (1) the item d), (2) - (5); Art. 123a; Art. 124, Art. 125; Art. 126; Art. 126a; Art. 127 (1) - (3); Art. 128; Art. 129 (1) par. 1, (1a) - (5); Art. 130; Art. 132 (1) - (2), (3) par.1 of the item a) the item (i), the item b) - c), paragraphs 2 - 4, (4) - (7); Art. 132a; Art. 132b; Art. 132c; Art. 133; Art. 134 (3); Art. 138 of the item g); Art. 139 (2); Art. 141 (2); Art. 178 (2) item d), (3) item d), (4); Art. 208 (3) item b), (3a), (5); Art. 430a; Art. 501 (1), (2) item c); the Art. 501a and Appendices I to Regulations No. 575/2013 of the European parliament and Council of June 26, 2013 about prudential requirements for credit institutes and about modification of Regulations (EU) No. 648/2012, CELEX: 32013R0575, published in the Official magazine of the European Union by L 176 of June 27, 2013, with the last changes made by Regulations (EU) 2025/1215 European parliament and Council of June 17, 2025.

1. In the Resolution of Executive committee of National Bank of Moldova No. 111/2018 on approval of Regulations on approach to credit risk for banks according to the standardized approach (The official monitor of the Republic of Moldova, 2018, No. 183-194, of the Art. 901), registered in the Ministry of Justice of the Republic of Moldova at No. 334/2018, to make the following changes:

1.1. In formula adoption of the resolution to replace the text of "The law on National Bank of Moldova No. 548-XIII of July 21, 1995" with the text of "The law on National Bank of Moldova No. 548-XIII/1995" and to replace the text of "The law on activities of banks No. 202 of October 6, 2017" with the text of "The law on activities of banks No. 202/2017", and to exclude the words "and amendments".

1.2. In all text of regulations:

1.2.1. and "real estate of commercial appointment" shall be replaced with words words of "real estate of residential appointment" "residental real estate" and according to "commercial real estate";

1.2.2. exclude the word "completely".

1.3. To state formula of harmonization in the following edition:

"These regulations are transposition of the Art. (1) (a); Art. 4 (1) item (7), (8), (56), (61), (62), (75), (75a), (75b), (75c), (76), (78a), (78b), (80), (81), (98), (99), (152); Art. 5 of the item (10), (11); Art. 107 (2) and (3), Art. 111 - 113 (1) - (3), (6); Art. 114 (1), (2), (4) and (7); Art. 115 (-1) - (5); Art. 116 (1) - (5); Art. 117 (1) - (2); Art. 118 – 128; Art. 129 (1) the paragraph 1, (1a) - (5); Art. 130 - 132 (1) - (2), (3) paragraph 1 of the item a) the item (i), the item b) - c), paragraphs 2 - 4, (4) - (7); the Art. 132a - 135 (1); Art. 137 - 141; Art. 148 (1) - (3), (5); Art. 162 (3) paragraph 2 (b); Art. 178; Art. 208; Art. 430a; Art. 501 (1) - (3); the Art. 501a and Appendices I to Regulations No. 575/2013 of the European parliament and Council of June 26, 2013 about prudential requirements for credit institutes and about modification of Regulations (EU) No. 648/2012, CELEX: 32013R0575, published in the Official magazine of the European Union by L 176 of June 27, 2013, with the last changes made by Regulations (EU) 2025/1215 European parliament and Council of June 17, 2025".

1.4. In Item 1 "To the law on activities of banks No. 202 of October 6, 2017 (further – banks)" to replace the text with the text "To the law on activities of banks No. 202/2017 (further – the Law No. 202/2017).".

1.5. In Item 3:

1.5.1. "The law on activities of banks No. 202 of October 6, 2017" to replace the text with the text "Law No. 202/2017";

1.5.2. to the concept "object of residental real estate" to add with the concepts "obligation", "unconditional withdrawn obligation" of the following content:

"the obligation - any contractual agreement which the bank offers the client and which is accepted by this client, about loan granting, acquisition of assets or release of credit substitutes; and also any such agreement which can be terminated unconditionally by bank at any time without prior notice of debtor, or any agreement which can be terminated by bank in case of non-compliance by the debtor with the conditions stated in documentation concerning credit line including conditions which shall be executed by debtor before any initial or subsequent receipt of means under the agreement if only contractual agreements in total do not correspond to the following conditions:

1) contractual agreements under which the bank does not receive any charges or commission charges for the conclusion or maintenance of these contractual agreements;

2) contractual agreements according to which the client shall submit to bank the application for the first money withdrawal and for each subsequent money withdrawal according to the relevant contractual agreements;

3) contractual agreements in which the bank has complete powers, irrespective of accomplishment by the client of the conditions stated in documentation on the contractual agreement on implementation of each money withdrawal;

4) contractual agreements allow bank to estimate creditworthness of the client just before decision making about making of each money withdrawal, and the bank implemented and applies the internal procedures providing carrying out such assessment before making of each money withdrawal;

5) the contractual agreements offered the corporate subject including MSP which are under fixed observation on permanent basis and provide updating of information on the essential events connected with transactions, profit and losses, and also risk management policy;

the withdrawn obligation - any obligation which conditions allow bank to cancel it in the most admissible degree according to the consumer protection law and the corresponding regulations, at any time without prior notice the debtor or which actually provides automatic cancellation in case of deterioration in creditworthness of the debtor is unconditional;";

1.5.3. state the concepts "real estate unit of residential appointment" and "real estate unit of commercial appointment" of the following edition:

"object of residental real estate – any of the following:

1) real estate object, representing premises and corresponding to all applicable laws and regulations allowing to use this real estate in the residential purposes;

2) the real estate object representing premises and being in construction stage provided that it, as expected, will correspond to all applicable laws and regulations allowing to use this object in the residential purposes;

3) the right to live in the apartment in the housing cooperatives located in Sweden;

4) the adjacent site to the property mentioned in subitems 1) - 3);

object of commercial real estate – any real estate which is not the residential real estate; ";

1.5.4. after the concept "exposure" to add with the concepts "the exposure connected with acquisition of sites, development and construction (exposure of ADC)", "exposure which is not relating to ADC", "exposure connected with the profitable real estate (exposure of IPRE)" "the exposure connected with the real estate which is not bringing in the income (the exposure which is not relating to IPRE)", "exposure before the dealer" and "coefficient of conversion or coefficient of conversion of the credit (CCF)" of the following content:

"the exposure connected with acquisition of sites, development and construction (exposure of ADC) – exposure before societies or the specialized organizations which finance acquisition of sites for the purposes of building and construction or which finance building and construction of residential or commercial real estate;

the exposure which is not relating to ADC, – the exposure provided with one or several residential or commercial real estate objects which are not exposure of ADC;

the exposure connected with the profitable real estate (exposure of IPRE) - the exposure provided with one or several residential or commercial real estate objects in case of which execution of the credit obligations connected with this exposure substantially depends on the cash flows generated by the real estate objects providing this exposure, but not from capability of the debtor to fulfill the credit obligations from other sources, and the main source of such cash flows are lease payments or sales proceeds of objects of residential or commercial real estate;

the exposure connected with the real estate which is not bringing in the income (the exposure which is not relating to IPRE) - the exposure provided with one or several residential or commercial real estate objects which are not exposure of IPRE;

exposure before the dealer - any renewable exposure having repayment history at least 12 months and relating to one of the following:

1) exposure on which on regular basis and at least once in 12 months the remaining balance, due for settlement in the following planned repayment date, is determined as the amount taken for predefined basic date at the same time the planned repayment date is established no later than 12 months provided that the remaining balance was completely extinguished in each planned repayment date within the last 12 months;

2) the credit "overdraft" line from which money withdrawal for the last 12 months was not made.;

the coefficient of conversion or coefficient of conversion of the credit (CCF) – the relation of the unused amount of the obligation at the same time the cost of the obligation is determined by one credit agreement which could be used from this agreement from certain timepoint to insolvency and which, therefore, would be exposed to risk at the time of default, to the unused amount of the obligation according to this credit agreement by admissible limit if only the unauthorized limit is not higher;";

1.5.5. after the concept "trade financing" to add with the concept "secured bond" of the following content:

"the secured bond is the debt instrument issued by bank according to national regulatory framework for secured bonds and provided with mortgage assets which investors in secured bonds can address directly as preferred creditors;";

1.5.6. exclude the concept "speculative financing of real estate";

1.5.7. in the concept "organization of collective investment (OCI)" to replace the text of "The law on the capital market No. 171 of July 11, 2012" with the text of "Law No. 171/2012", and "the fund of alternate investments (FAI) of foreign state according to Item 78 of these regulations" to replace the text with the text "or the fund of alternate investments (FAI) representing the alternative organization of collective investment as it is determined in the Law on the alternative organizations of collective investment No. 2/2020 (further – the Law No. 2/2020)";

1.5.8. exclude the concepts "line item from securitization", "securitization", "tranche".

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