RESOLUTION OF NATIONAL BANK OF THE REPUBLIC OF MOLDOVA

of March 26, 2026 No. 76

About modification of some regulations of National Bank of Moldova (own means of banks and requirement to the capital)

Based on Art. 60-62 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), with subsequent changes, the Executive committee of National Bank of Moldova DECIDES:

This resolution:

- partially restacks (restacks Art. 27 (1) - (2), Art. 28 (1) and (3), Art. 29 (1) - (5), Art. 32 (1) - (2), 33 (3), Art. 36 (1) the item d), k), m), n) and (5), the Art. 40, of the Art. 45, of the Art. 47a, 47b, 47c, Art. 52 (1) the item p) - r), Art. 54 (1) the item e), Art. 62 of the item d) and the last offer, Art. 63 (1) the item a), n) - p), Art. 64 (1), the Art. 72a, the Art. 72b (1) - (2) and the last offer, (3), (7), the Art. 72c-72d, the Art. 72e (2) - (3), (5), the Art. 72f, the Art. 72j (1) - (2), the Art. 72l, Art. 73 (3), Art. 76 (1) - (3), Art. 77 (1) the item b) and (2), Art. 78 the first offer, (4) the item d) and e), the Art. 78a, the Art. 79a, Art. 84 (1) and the II ое offer of Art. 85 (1) and (3), Art. 87 (1) and (3), Art. 92 (3), (4) the item a) and (5), the Art. 94) Regulations No. 575/2013 of the European parliament and Council of June 26, 2013 about prudential requirements to credit institutions and investment societies and about modification of Regulations (EU) No. 648/2012, published in the Official magazine of the European Union by L 176 of June 27, 2013 CELEX: 32013R0575, with the last changes made by Regulations (EU) 2024/1623 European Parliament and Council of May 31, 2024;

- partially No. 241/2014 of the Commission of January 7, 2014 supplementing Regulations (EU) No. 575/2013 of the European parliament and Council about technical normative standards concerning the requirements to own means and acceptable obligations applicable to organizations published in the Official magazine of the European Union by L 074 of March 14, 2014, CELEX restacks (restacks Art. 4-7, of the Art. 8, of the Art. 9, of the Art. 12, of the Art. 13a, Art. 20 (2), the Art. 21, of the Art. 25, of the Art. 26, of Art. 30 (1) and (3), the Art. 30a, the Art. 30b, the Art. 31, of the Art. 32a, the Art. 34a) the Delegated regulations (EU): 32014R0241, with the last changes made by Regulations (EU) 2023/827 Commissions of October 11, 2022;

- No. 523/2014 of the Commission of March 12, 2014 supplementing Regulations (EU) No. 575/2013 of the European Parliament and Council concerning the technical normative standards determining what represents close connection between the cost of secured bonds of organization and cost of its assets published in the Official magazine of the European Union by L 148 of May 20, 2014, CELEX restacks the Delegated regulations (EU): 32014R0523.

1. Item 7 of the Regulations on classification of assets and contingent obligations approved by the Resolution of Administrative board of National Bank of Moldova No. 231/2011 (Official monitor of the Republic of Moldova, 2011, No. 216-221, Art. 2007), the December, 2011 registered in the Ministry of Justice of the Republic of Moldova at No. 856 1, to add with the text "taking into account the adverse podverzhennost subtracted according to the Regulations about own means of banks and requirements of the capital approved by the Resolution of Executive committee of National Bank of Moldova No. 109/2018g.".

2. In the Resolution of Executive committee of National Bank of Moldova No. 109/2018 on approval of Regulations on own means of banks and requirements of the capital (The official monitor of the Republic of Moldova, 2018, No. 183-194, of the Art. 899), registered in the Ministry of Justice of the Republic of Moldova at No. 1332/2018, to make the following changes:

2.1. In formula of harmonization 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 "The law on National Bank of Moldova No. 548/1995" 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 of", and to exclude the words "and amendments";

2.2. In option in Russian the text remains without changes.

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

"-Art. 4 (1) the item (102) - (104), the item (107) - (114), the item (117) - (120), the item (122), the item (126), the item. (128), the Art. 25, Art. 26 (1) - (3), Art. 27 of the Art. 28, the Art. 29, the Art. 30, the Art. 31, the Art. 32, Art. 33-39, of the Art. 40, Art. 41-48, of Art. 50-75, of the Art. 76, Art. 77-79, of the Art. 79a, the Art. 81, the Art. 82, the Art. 84 parts (1), (3) and (5), the Art. 85 parts (1), (3) and (5), the Art. 86, the Art. 87 parts (1) and (3), the Art. 88, Art. 92-94 of Art. 99 (1) Regulations 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 No. L published in the Official magazine 176 of June 27 2013, changed by Regulations (EU) 2024/1623 European Parliament and Council of the May 31, 2024 making changes to Regulations (EU) No. 575/2013 concerning the requirements concerning credit risk, risk of revaluation of the credit, operational risk, market risk and also concerning the minimum threshold of requirements to the capital;

- Art. 2-7, of the Art. 7a, the Art. 7b (1), the Art. 8, the Art. 9, the Art. 12-15a (1) - (2), the Art. 15b-16 (1), Art. 20-23, of the Art. 24a (1), Art. 25-31, of the Art. 32a, Art. 33 and the Art. 34a of part (1), (3) - (7) the Delegated regulations (EU) No. 241/2014 of the Commission of January 7, 2014 about amendment of Regulations (EU) No. 575/2013 of the European Parliament and Council about technical standards of the regulation for own funds in case of organizations published in the Official magazine of the European Union by L 148/4 of May 20, 2014;

- The delegated regulations (EU) 2015/923 Commissions of the March 11, 2015 making changes to Regulations (EU) No. 241/2014 about amendment of Regulations (EU) No. 575/2013 of the European Parliament and Council about technical normative standards concerning requirements to own means for organizations published in the Official magazine of the European communities No. L 135 of June 2, 2015;

- Art. 2 of the Delegated regulations (EU) No. 523/2014 of the Commission of the March 12, 2014 supplementing Regulations (EU) with No. 575/2013 of the European parliament and Council concerning technical normative standards for determination of what constitutes close connection between the cost of secured bonds of organization and asset cost of the organization published in the Official magazine of the European Union by L 148 of May 20, 2014, CELEX: 32014R0523.".

2.4. In Item 1 of the word "in calculation of own means" to add with the words "and acceptable obligations".

2.5. In item 4:

2.5.1. "The law on activities of banks No. 202 of October 6, 2017" to replace the text with the text "The law on activities of banks No. 202/2017 (further - the Law No. 202/2017)";

2.5.2. after the concept "assets of the pension fund with the established remunerations" the concept "other capital tools" with the following content is added:

"other capital tools - the capital tools issued by the organizations of the financial sector which cannot be considered as tools of the first level of ordinary shares, tools of the first level or tools of the second level, own means of the first level relating to insurance companies, the additional own resources of the first level relating to insurance companies, own means of the second level relating to insurance companies or own means of the third level relating to insurance companies;"

2.5.3. state the concept "indirect possession" of the following edition:

"indirect possession - any exposure before the intermediary subject who owns exposure concerning the tools of the capital issued by the subject of the financial sector or according to the obligations issued by bank in case of which if the cost of the tools of the capital issued by the subject of the financial sector or the obligations issued by bank was removed out of balance limits, the losses suffered as a result by this bank would not differ significantly from losses which he would suffer as a result of immediate possession by these tools of the capital issued by the subject of the financial sector, or these obligations issued by bank;";

2.5.4. in the concept "synthetic ownership" to add with the words "or from the cost of the obligations issued by bank";

2.5.5. in the concept "elements which can be distributed" the text "while these losses and reserves" to replace with the text "the corresponding profits, losses and reserves";

2.5.6. after the concept "elements which can be distributed" to add with the concepts "rezolyutsionny subject", "specialized body for debt restructuring" and "rezolyutsionny group" with the following content:

"the rezolyutsionny subject - the rezolyutsionny subject according to the determination containing in the Law No. 232/2016 on improvement of banks and the bank resolution (further - "Law No. 232/2016");

specialized body for debt restructuring - bank which within the previous financial year in total satisfied the following conditions both on individual, and on the consolidated basis:

1) the main activities of bank is acquisition, management and restructuring of adverse podverzhennost according to the accurate and effective internal process of decision making implemented by its governing body;

2) the book value of own issued credits determined without any adjustments on credit risk does not exceed 15% of the total amount of its assets;

3) at least 5% of the book value determined without any adjustments on credit risk by own issued credits make complete or partial refinancing or adjustment of the corresponding conditions or the acquired problem credits which are qualified as the restructuring measure caused by financial difficulties according to Items 6713-6716;

4) the total cost of assets of bank does not exceed equivalent in lei of 20 billion euros;

5) the bank constantly supports indicator of stable net financing at the level of at least 130%;

6) on-demand deposits of bank do not exceed 5% of the total amount of liabilities of bank.

The specialized body for debt restructuring without delay in writing notifies National Bank of Moldova if one or several of the specified conditions cease to be carried out.

rezolyutsionny group - rezolyutsionny group according to the determination containing in the Law No. 232/2016;".

2.6. To add heading of Chapter II with the words "And ACCEPTABLE OBLIGATIONS".

2.7. In Item 7 "26-29" to replace the text with the text "25-1-29".

2.8. Add with Item 9-1 of the following content:

"9-1. Own means and acceptable obligations of bank represent the amount of its own means and acceptable obligations after deduction of the amounts specified in Item 109-21.".

2.9. Add with Item 16-1 of the following content:

"16-1. According to the subitem 2) of Item 16 only that part of the tool of the capital which was completely paid can be considered as the main tool of own means of the 1st level.".

2.10. Add with Items 19-1 and 19-2 of the following content:

"191. The condition provided in Item е) the subitem 8) of Item 16, it is considered executed, despite the fact that, the affiliated enterprise is agreement party about transfer of profit and losses from parent entity according to which the affiliated enterprise shall list, following the results of creation of the annual financial reporting, the annual result to parent entity if the following conditions are in total satisfied:

1) the parent entity owns 90% or more voting powers and the capital of affiliated enterprise;

2) the parent entity and affiliated enterprise are located in the Republic of Moldova or in the same member state of the European Union;

3) the agreement was signed for the purpose of the taxation;

4) in case of creation of the annual financial reporting affiliated enterprise has the right to reduce the amount of payments, sending all the profit or its part to own reserves or to funds for covering of general bank risks before implementation of any payments to parent entity;

5) the parent entity shall according to the agreement completely pay to affiliated enterprise all its damages;

6) the agreement is subject to the period of the prior notice according to which the agreement can be terminated only until the end of financial year, and termination becomes effective not earlier than the beginning of the following financial year, without affecting the obligation of parent entity to completely pay to affiliated enterprise all losses suffered within the current financial year.

19-2. If bank it signed the agreement on transfer of profit and losses according to Item 191, without delay notifies on it in writing National Bank of Moldova and represents the copy of the agreement. Besides, the bank without delay informs National Bank of Moldova on any changes made to the agreement on transfer of profit and losses, and also on its termination. The bank shall not sign more than one agreement on transfer of profit and losses.".

2.11. To add part 1 of Chapter III with subpart of 2-1 following content:

"Subpart 2-1. The capital tools issued by mutual societies, cooperative credit institutions, savings organizations or similar organizations within elements of own means of the first level

23-1. Any tools of the capital issued by society according to its statutory provisions on condition of observance of the following requirements belong to elements of the main own means of the first level:

1) society treats the type determined according to the applicable national legal system, and competent authorities of the state consider that it corresponds to criteria of one of the following types:

a) mutual society;

b) cooperative credit institution;

c) savings organization;

d) similar organization;

2) the conditions provided in subpart 2, and the change conditions stated in Items 23-3 - 23-8 are satisfied.

23-2. The certain type of the company recognized according to the applicable national legal system is considered the mutual society, cooperative credit institution, savings organization or similar organization in sense of these Regulations in accordance with the terms stated in annex 3-1.

23-3. The capital tools issued by mutual societies, cooperative credit institutions, savings organizations and similar organizations are qualified as tools of the main own means of the first level only in case of observance of the conditions provided in subpart 2, with the changes following from application of this subpart.

23-4. For the purposes of Item 23-3 the following conditions concerning the redemption of tools of the capital shall be satisfied:

1) society has the right to refuse the redemption of tools, except as specified, when it is forbidden according to the applicable national legal system;

2) if the refusal of organization of the redemption of tools is prohibited according to the applicable national legal system, the provisions regulating tools give to society opportunity to limit their redemption;

3) the refusal of the redemption of tools or restriction of the redemption of tools, depending on circumstances, cannot be nonpayment event for this society.

23-5. Tools of the capital can provide restriction or restrictive level of maximum payments only if such restriction or restrictive level are provided by the applicable national legal system or the charter of society.

23-6. If tools of the capital grant to the owner the rights to reserves of society in case of insolvency or liquidation which are limited to nominal value of such tools, such restriction is applied equally to holders of all other tools of own means of the first level issued by this society.

23-7. The condition specified in Item 23-6, does not limit opportunity for mutual society, cooperative credit institution, savings organization or similar organization to turn on the tools which are not granting to the holder voting powers and answering to in total following conditions in structure of the main own means of the first level:

1) requirements of holders of tools without voting power in case of insolvency or liquidation of society are proportional to share which these tools without voting power occupy in total amount of tools of the main own means of the first level;

2) tools based on other criteria belong to the category of tools of the main own means of the first level.

23-8. If tools of the capital grant to their owners the right to the requirement for assets of society in case of insolvency or liquidation which is fixed or limited, such restriction is applied equally to all holders of tools of the main own means of the first level issued societies.".

2.12. Regarding 2 Chapters III "The prudential filters connected with cash flow hedging, changes of the size of own debts and additional value adjustments":

2.12.1. in the name of part after the words "connected with" to add with the text "the securitized assets,";

2.12.2. add part 2 with Items 25-1 and 25-2 of the following content:

"25-1. The bank excludes from structure of any element of own means any increase in equity according to system of financial accounting which results from securitization of assets, including the following:

1) such increase connected with future income from margin which leads to receipt by bank of profit on sale;

2) if the bank is initiator of securitization, the net profit got from capitalization of future income from the securitized assets providing improvement of credit quality of line items within securitization.

25-2. According to the subitem 1) of Item 25-1 value of the concept "profit on sale" is given in appendix 1.".

2.13. Add with Items 27-1 - 27-3 following of content:

"27-1. Without prejudice to the subitem 2) of Item 26 banks can include the amount of the profits and losses connected with their obligations in own means if the following conditions are in total satisfied:

1) obligations have the form of bonds and correspond to the conditions specified in article 112 of the Law on the capital market No. 171/2012, applicable date of their release or are secured bonds according to regulations about secured bonds;

2) changes in value of assets and liabilities of bank are caused by the same changes of quality of the credits of bank;

3) there is close connection between bond value, specified in the subitem 1), and asset cost of bank;

4) there is possibility of repayment of the mortgage loans by bond buyback financing mortgage loans on market or nominal value.

27-2. In subitem sense 3) of Item 27-1 it is considered that close connection exists when the following conditions are in total satisfied:

Any change of fair value of the bonds issued by bank leads 1) at any time to equivalent changes of fair value of the assets which are the cornerstone of these bonds.

2) the mortgage loans which are the cornerstone of the bonds issued by bank for financing of the credits can be at any time extinguished by bond buyback on market value or at par value;

3) there is transparent mechanism of determination of fair value of mortgage loans and bonds.

Cost determination of mortgage loans includes calculation of fair value of the option for delivery.

Communication is not considered close if according to subitems of 1)-3) as a result of changes in value of bonds or basic mortgage loans with the built-in option for delivery there is net profit or net loss.

27-3. For the purposes of the Item 27-2 "delivery option" means opportunity to repay mortgage loan by the redemption of the secured bond on market value or at par value according to the subitem 4) of Item 27-1.".

2.14. In Item 30:

2.14.1. 2) to add the subitem with the text", except for the software estimated taking into account the principle of care which cost is not exposed to negative impact as a result of the procedure of the resolution, insolvency or liquidation of bank";

2.14.2. add with the subitem 31) of the following content:

"31) for the banks calculating the amounts of podverzhennost weighed on risk with use of the approach based on internal rating models (IRB approach), deficit on IRB where it is applicable calculated according to the regulation of National Bank of Moldova concerning accounting of credit risk according to IRB approach;";

2.14.3. the subitem 6), after the text of "the financial sector" to add with the text" if these subjects and bank have mutual ownerships,";

2.14.4. in the subitem 9) of the word "additional own resources" to replace with the text "elements of additional own resources";

2.14.5. 10) to state the subitem in the following edition:

"10) the extent of exposure relating to the following elements which are qualified for weight coefficient of risk of 1000% when the bank reads the extent of the corresponding exposure from the size of elements of the main own means of the first level as an alternative in case of application of weight coefficient of risk of 1000%:

a) qualified ownerships out of the financial sector;

b) securitization line items according to the Regulations about prudential approach to securitization approved by the Resolution of Executive committee of National Bank of Moldova No. 221/2025;

c) incomplete transactions according to the Regulations about the attitude towards risk of calculation/delivery for banks approved by the Resolution of Executive committee of National Bank of Moldova No. 115/2018 (further - Regulations No. 115/2018);

d) line items from basket of risks for which the bank cannot determine weight coefficient of risk using IRB approach, according to the regulation of National Bank of Moldova concerning accounting of credit risk on IRB approach;

e) exposure in the form of units or shares which are in the organizations of collective investment (OCI) to which the weight coefficient of risk of 1000% according to Regulations No. 111/2018 is appropriated.";

2.14.6. add with subitems 12) and 13) of the following content:

"12) the applicable amount of insufficient covering on adverse podverzhennost;

13) concerning the obligation on minimal cost specified in Regulations No. 111/2018, any amount, which the current market value of the units or shares which are in OKA, constituting obligation basis with minimal cost below current value of the obligation with minimal cost and concerning which the bank did not recognize reduction of elements of the main own means of the first level yet.".

2.15. Add with Item 31-1 of the following content:

"31-1. 12) of Item 30, according to the procedure of exception of Items 6717-6726, after the written notice of National Bank of Moldova the applicable size of insufficient covering on the adverse podverzhennost acquired by specialized body for debt restructuring is equal in subitem sense to zero. The exception provided in this Item is applied on individual basis, and in case of groups in which all banks are qualified as specialized bodies for debt restructuring, - on the consolidated basis.".

2.16. Add with Item 37-1 of the following content:

"37-1. In subitem sense 2) of Item 30, the software estimated taking into account the principle of care which cost is not exposed to negative impact as a result of the procedure of the resolution, insolvency or liquidation of bank is determined by application of the prudential approach based on the depreciation for the purposes of prudential regulation calculated according to appendix No. 4-1.".

2.17. Item 46, the text "Regulations about approach to credit risk according to the standardized approach, the approved Resolution of Executive committee of National Bank of Moldova No. 111 of May 24, 2018 (further -" to replace Regulations No. 111/2018) with the text "Regulations No. 111/2018 or according to the regulations of National Bank of Moldova concerning approach of credit risk for banks according to the approach based on internal rating models depending on circumstances".

2.18. In subpart 5 "Deduction of assets of the pension fund with contractual payments" of part 3 of Chapter III:

2.18.1. to state the name of subpart 5 in the following edition:

"Deduction of the negative amounts received as a result of calculation of the amount of foreseeable losses and assets of the pension fund with contractual payments";

2.18.2. add with Item 46-1 of the following content:

"46-1. The amount which is deductible according to the subitem 31) of Item 30, does not decrease due to increase in the amount of the deferred tax assets based on future profitability or at the expense of other additional tax effects which can arise if reserves will reach the level of foreseeable losses specified in the Section of "the amount of foreseeable losses the" of regulations of National Bank of Moldova concerning the relation to credit risk according to the approach based on internal rating models.".

2.19. Add Item 48 with the text "or according to the regulations of National Bank of Moldova concerning approach of credit risk for banks according to the approach based on internal rating models depending on circumstances".

2.20. Item and) the subitem 1) of Item 55 to state in the following edition:

"a) repayment date of short position matches with repayment date of long position, comes after this date or the residual repayment period of short position constitutes at least one year;".

2.21. In the subitem 1) Item 56:

2.21.1. in Item a) the text "Items 26-29" to replace with the text "Items 25-1-29";

2.21.2. in Item b) "10) and 11)" to replace the text with the text "Items b) - e) subitem 10 and Items 11) - 13)".

2.22. In Item 59 after the text of "Regulations No. 111/2018" to add with the text "or according to the regulations of National Bank of Moldova concerning approach of credit risk for banks according to the approach based on internal rating models".

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info