RESOLUTION OF ADMINISTRATIVE BOARD OF NATIONAL BANK OF MOLDOVA

of March 2, 2006 No. 53

About approval of Regulations about the automated interbank payment system

For the purpose of determination of rules of use of the automated interbank payment system and based on Art. 11 of the Law on National Bank of Moldova No. 548-XIII of July 21, 1995. The administrative board of National Bank of Moldova DECIDES:

1. Approve Regulations about the automated interbank payment system.

2. On the date of entry into force of this resolution to cancel:

The resolution of Administrative board of National Bank of Moldova No. 20 of 30.01.2003 about approval of Regulations about interbank payments in the Republic of Moldova (Monitorul Oficial al Republicii Moldova No. 14-17/29 of 7.02.2003), with subsequent changes and amendments;

The decision of Administrative board of National Bank of Moldova No. 402 of 25.12.1998 about approval of the Procedure of payments and payment of the settlement services provided by National Bank of Moldova ( Monitorul Oficial al Republicii Moldova No. 7-9/23 of 28.01.1999), with subsequent changes and amendments;

The decision of Administrative board of National Bank of Moldova No. 168 of 8.06.2000 about approval of the List of types of the settlement and accounting documents used in case of banking operations ( Monitorul Oficial al Republicii Moldova No. 78-80/258 of 8.07.2000), with subsequent changes and amendments.

3. This resolution is published in Monitorul Oficial al Republicii Moldova and becomes effective since April 21, 2006.

Regulations about the automated interbank payment system

Chapter I. General provisions

1. General requirements

1.1. These regulations are published for the purpose of establishment of rules of use of the automated interbank payment system and the organization of activities in its framework.

1.2. Requirements of these regulations are obligatory for participants of the automated interbank payment system (AIPS).

1.3. For the purpose of these regulations the following concepts are used:

Transaction code - the digital code identifying payment type, transferred in ASMP.

Queue - the list of payment documents which calculation was postponed in view of lack of sufficient money, and/or payment documents transferred in packet and subjects to calculation in predefined periods.

The settlement account - the account opened for the member of ASMP for implementation of settlement transactions.

Calculation - transaction on irrevocable obligation fulfillment, the participants connected with money transfers between two or large number, by means of debiting of the settlement account of the participating payer and crediting of the settlement account of the participating beneficiary.

The participating beneficiary is the member of ASMP whose settlement account is credited based on the processed payment document.

The participating payer is the member of ASMP whose settlement account is debited based on the processed payment document.

Priority - digital code by means of which the participant of system establishes the sequence of calculation.

For the purpose of these regulations also concepts of the Law on finality of calculations of payment systems and settlement systems on financial instruments No. 183 of July 22, 2016 are used. (The official monitor of the Republic of Moldova, 2016, Art. No. 306-313, 653) (further - the Law No. 183 ot22 July, 2016), with subsequent changes and amendments.

2. Structure, functions and participants of the automated interbank payment system

2.1. The Automated Interbank Payment System (AIPS) is system by means of which interbank payments in Moldovan lei in the territory of the Republic of Moldova are made. ASMP consists of system of gross calculations in real time and clearing system with calculation of net positions.

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