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RESOLUTION OF NATIONAL BANK OF THE REPUBLIC OF MOLDOVA

of March 26, 1997 No. 15

The chart of accounts of financial accounting in licensed banks of the Republic of Moldova

(as amended on 22-09-2016)

The chart of accounts of financial accounting in licensed banks of the Republic of Moldova

Chapter I. General provisions

1. This Chart of accounts of financial accounting in licensed banks of the Republic of Moldova (further - the Chart of accounts) is developed according to Articles 5, 11 and 44 Laws on National Bank of Moldova No. 548-XIII of 21.07.95, Art. 33 of the Law on financial institutions No. 550-XIII of 21.07.95 and based on National accounting standards and the current legislation.

2. Requirements of the Chart of accounts extend on licensed banks, licensed NBM, and including departments of foreign banks authorized by National Bank of Moldova (further - banks).

The chart of accounts is not legal cause for implementation of financial and economic transactions, and serves for the corresponding entering into financial accounting of the performed transactions. The financial and economic transactions necessary for entering into financial accounting shall be performed in strict accordance with requirements of the regulating regulations.

3. The chart of accounts is based on account classification on economic content and includes the accounts which are subject to registration in financial accounting (the transaction performed in bank, content and purpose of each account, the description of the account).

4. The chart of accounts represents all system of accounts within which each account has the name and digital symbol, is included in class and group, by certain criterion of classification.

5. The chart of accounts includes 7 classes:

Class 1 - Assets;

Class 2 - Obligations;

Class 3 - Capital and reserves;

Class 4 - Income;

Class 5 - Expenses;

Class 6 - Conditional accounts;

Class 7 - Accounts of the memorandum.

6. Accounts of the classes "Assets" and "Expenses" are active, accounts of the classes "Obligations", "Capital and Reserves", "Income" are passive, except for contra accounts.

7. Accounts of the class "Assets" of the chart of accounts are placed in decreasing order of liquidity.

8. Reflection in analytics of synthetic accounts of the Chart of accounts is competence of each bank, proceeding from own needs. Analytical accounts are opened based on synthetic accounts in Moldovan lei and in foreign currency.

9. In case of distribution in classes of account groups, and in groups of separate accounts, the hierarchical principle is used, the hierarchy of classes, groups, accounts is reflected with the help of systems of digital notations from four figures:

The first figure of account number reflects account class.

The second and third figures reflect group of the account which groups accounts with uniform economic content.

The fourth figure specifies specific object of accounting.

Within this structure each group can include up to 9 accounts. At the same time, in order to avoid distribution of accounts of general economic content, separate groups include the bigger number of accounts. At the same time, one group joins accounts which (after the second and third figure) shall be distributed on various groups.

10. Account balances of the Chart of accounts are used for generalization of information which is subject to reflection in the financial statements constituted and provided by bank.

11. Account on accounts of the first five classes (balance sheet accounts) is kept by method of double record that represents procedure for reflection of economic transactions and events in value term at the same time on the debit of one account and the credit of other account of the same amount.

12. Accounting on off-balance accounts (conditional and the memorandum) is conducted by method of simple record that represents procedure for unilateral reflection of economic transactions.

Conditional accounts are intended for accounting of the obligations depending on different conditional events. Proceeding from purpose of the performed operation, conditional accounts share on debit and credit. Account is kept by record of transactions on the debit/credit of the account and write-off by the return posting.

Accounts of the memorandum are intended for accounting of values and important documents in activities of bank or being in it stored. Account on accounts of the memorandum is kept by method receipt - expense.

13. In the Chart of accounts of financial accounting in licensed banks the following terms and concepts are used:

The assets accepted in ownership - the assets (securities, property, etc.) accepted in ownership of bank for repayment of the obligations on the credit which are not executed by the debtor.

Non-interest loan - the loan granted by bank on which charge of interest receivable is stopped.

Other tangible assets - the material values which are kept for subsequent use (office supplies, construction materials, spare parts, packaging, forms and so forth).

Other reserves - the money deducted from retained earnings of bank for forming of additional reserves according to the current legislation, payment of the fixed dividends for exclusive obligations and other losses.

The reserve capital - the money deducted from retained earnings of bank, used for covering of other losses (except for losses as a result of non-return of the credits) according to provisions of the Join-stock companies law.

Contra account - the passive account opened in asset class (or the active account - in classes of obligations, the capital and reserves) which reduces the amount of assets (or obligations, the capital and reserves).

The account of "Loro" - the current account opened by bank for other bank including the account of the branch subordinated to head bank opened in the internal register of head bank.

The account of "Nostro" - the current account of this bank opened in other bank including the account of the branch subordinated to head bank opened in the internal register of branch.

Savings deposit - on-demand deposit or urgent without establishment of initial minimum amount, placed for saving of money and on which the savings book can be issued.

Retained earnings (uncovered loss) - net income (net loss) after deduction of the amount of the current or delayed income tax.

Excess of the capital - the means received from shareholders, exceeding share par value.

 The overdue loan – the credit is considered overdue at the moment when payment according to the agreement was not paid by the borrower.

Chapter II. Nomenclature of business accounts

See Chapter II. Nomenclature of business accounts (88Kb In original language)

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