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The document ceased to be valid since  October 31, 2014 according to Item 2 of the Resolution of National Bank of the Republic of Moldova of  September 25, 2014 No. 188

RESOLUTION OF ADMINISTRATIVE BOARD OF NATIONAL BANK OF THE REPUBLIC OF MOLDOVA

of August 12, 2004 No. 200

About approval of Regulations about issue, the address and repayment of Certificates of National Bank of Moldova

(as amended on on March 17, 2011)

Based on Articles 11, of 15, and 26 Laws on National Bank of Moldova and for the purpose of regulation of issue, the address and repayment of certificates of NBM the Administrative board of National Bank of Moldova DECIDES:

I. Approve Regulations about issue, the address and repayment of certificates of National Bank of Moldova it (is applied).

II. To department of market transactions, Department of the budget, finance and financial accounting and Department of information technologies and data processing to take necessary measures for ensuring fulfillment of requirements of these regulations till November 1, 2004.

III. To impose control over the implementation of this resolution on Department of market transactions and Department of information technologies and data processing.

IV. This resolution is subject to publication in "Monitorul Oficial al Republicii Moldova" and becomes effective since November 2, 2004.

 

Deputy Chairman

Administrative board

National Bank of Moldova to Dumitr Urs

Approved by the Resolution of the NBM Administrative board No. 200 of August 12, 2004

National Bank of Moldova

Regulations about issue, the address and repayment of Certificates of National Bank of Moldova

Chapter I. General provisions

1. These Regulations are developed based on the Law N548-XIII of July 21, 1995 on the National Bank of Moldova (NBM) and determine procedure for issue, the address and repayment of Certificates of National Bank of Moldova.

2. Certificates of National Bank of Moldova are issued within the operations in the public market performed by NBM. Release, accounting, and also confirmation of the property right to the certificates emitted by National Bank of Moldova is performed by means of records on accounts in Electronic system of signing up on accounts (SZS) in NBM.

3. The income assessment, NBM received from certificates, is performed according to the current legislation of the Republic of Moldova.

Chapter II. Basic concepts

4. In these Regulations the following basic concepts are used:

Certificates of National Bank of Moldova (Certificates) the negotsiiruyemy NBM debt instruments representing obligations of National Bank to owners of these tools. Certificates are tools of the money market and are issued for the purpose of implementation of monetary and monetarist policies of NBM.

Release of certificates - transaction within which, for the purpose of liquidity withdrawal, the National Bank of Moldova sells to banks and Fund of guaranteeing deposits, Certificates in dematerializovanny form.

Date of issue (payments) - the date specified in the Message on holding auctions for sale of Certificates NBM/confirmation of NBM about the direct biddings on which payment of the placed certificates of NBM is performed.

Nominal value of the certificate - the cost paid in case of repayment of the certificate. Nominal value of one certificate is expressed in national currency and makes 1000 Moldovan lei.

Participants - the banks licensed by NBM (further - banks) and Fund of guaranteeing deposits, signed the Contract on transactions with certificates of National Bank of Moldova with NBM.

The circulation of certificates - the translation of certificates of NBM from one owner to another by means of the transactions of purchase and sale, repo, pledge and other transaction types provided by the current legislation of the Republic of Moldova.

Repayment of Certificates - transfer of NBM to repayment date of certificates of their nominal value to accounts of owners.

The fund of guaranteeing deposits in bank system (Fund) - the Fund created according to the Law on guaranteeing deposits of physical persons in bank system of N575-XV of December 26, 2003 which has the current account in NBM and can invest available financial means in the securities issued by the Government and National Bank of Moldova.

The owner is the owner Sertifikatov, issued by National Bank of Moldova, registered in Electronic system of records on accounts.

Firm quotations - the quotations of purchase and sale of certificates of NBM representing the prices at which the bank shall perform transactions.

Chapter III. Conditions of release and circulation of certificates of National Bank of Moldova

5. Certificates of NBM are issued in national currency, in dematerializovanny form from repayment periods to one year. The banks and Fund of guaranteeing deposits which signed the Agreement on transactions with certificates of National Bank of Moldova with NBM can be potential buyers of certificates of NBM (appendix 1) and the Contribution agreement in Electronic system of signing up on accounts in NBM.

6. Certificates are on sale with discount and are redeemed in case of repayment at par value. The difference between selling price and nominal value is the income paid to the owner in case of repayment. The interest rate is calculated, using the convention URGENT QUANTITY the DAYS / 365, according to appendix 17.

7. Registration number (ISIN) determined by the Method of calculation of identification certificate number of NBM is assigned to each release of Certificates (appendix 2). Detailed conditions of issue of each release of certificates are determined in the Global certificate of release of Certificates of National Bank of Moldova (appendix 3).

8. Certificates are issued by means of the auctions held in National Bank of Moldova. For participation in auctions for sale of Certificates of NBM, banks shall correspond to the following selection criteria:

- participation in system of signing up on security accounts in NBM;

- participation in the automated interbank payment system;

The fund participates in auctions based on requirements of Art. 9 (3) the Law on guaranteeing deposits of physical persons in bank system of N574-XV of December 26, 2003.

Certificates can be issued by means of the direct biddings initiated by NBM in reasonable cases which participant can be one or several banks corresponding to selection criteria, specified in this Item.

9. The certificates issued by National Bank of Moldova are traded on the secondary market including all transactions on sale, purchase and also other transactions with the Certificates of NBM which are in circulation and are not pledged.

Transactions with certificates of NBM in the secondary market are performed by banks and Fund of guaranteeing deposits throughout circulation period, of date of issue of certificates before limiting date of prodazhidv of the working day prior to repayment date.

Chapter IV. Auction commission

10. For the purpose of determination of results of auctions for sale of certificates of NBM which are carried out in the conditions established by these regulations the Auction commission in the following structure is created:

the chairman - the senior vice president of NBM.

Permanent members:

- director of the department of market transactions;

- head of department of market transactions.

In case of absence of certain members of the Auction commission their functions are performed respectively:

- the deputy president of NBM - the chairman;

- deputy head of department, head of department of transactions of the public market;

- assistant department head of transactions of the public market;

- head of department of registration of securities.

11. it is excluded

Chapter V. Organization of auctions for sale of Certificates of NBM

12. Participants represent to National Bank of Moldova powers of attorney about provision to authorized persons of the rights of implementation of transactions with Certificates of NBM.

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