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The document ceased to be valid since September 6, 2019 according to Item 1 of the Resolution of National Bank of the Republic of Moldova of August 22, 2019 No. 221


of December 25, 1997 No. 153

About approval of Regulations about credit activities of banks of the Republic of Moldova

(as amended on 21-04-2011)

In execution of requirements of Art. 5 e) and based on Art. 11 of the Law on National Bank of Moldova, and also for the purpose of improvement of liquidity of banks and enhancement of the mechanism of issuance of credits by banks the Administrative board of National Bank of Moldova DECIDED:

1. Approve Regulations about credit activities of banks of the Republic of Moldova.

2. These Regulations are published in the Official Monitor of the Republic of Moldova.


Chairman of Administrative board of National Bank of Moldova

Leonid Talmach

Regulations about credit activities of banks of the Republic of Moldova

I. General provisions

1.1. These Regulations are developed based on the Law on National Bank of Moldova (I and VI Chapter) and the Law on financial institutions (III and IV Chapters).

1.2. For the purpose of providing single standards in the financial sector of the Republic of Moldova, banks, during the implementing of credit activities and accomplishment of credit operations, shall observe the requirements provided by these Regulations.

1.3. These Regulations are developed for the purpose of establishment of the basic principles of credit activities of banks and shall be applied jointly with all established normative requirements, giving to management of bank opportunity of management of activities reliably and circumspectly.

1.4. Banks are authorized to solve and bear responsibility for:

- establishment and maintenance of organizational structures;

- orientation of credit policy;

- development of analytical methods and ministerial procedures;

- determination of the control systems adequate for assessment, managements and from risk measurement which proceed from credit activities.

These requirements are established by the internal regulations approved by council of the bank.

Responsibility for implementation of the listed requirements is born by the body of bank authorized according to the charter.

II. Organization and management of credit activities

2.1. The correct and circumspect management of credit activities of bank requires establishment and maintenance of the certain organizational structures and credit policy along with assessment procedures of risk, monitoring and control pursuing the aim of ensuring implementation of this policy in operational practice for the purpose of protection of assets of bank and profit earning in parallel considering safety of deposits of clients.

2.2. These Regulations establish the basic applied principles and requirements which are subject to execution by banks when implementing credit activities, giving to administrative authority opportunity of administration of bank effectively and circumspectly, considering interests of investors and other clients.

III. Organizational structure

3.1. The organizational structure of credit divisions depends on the size of bank, branch network, amounts of credit investments and other factors.

3.2. The purpose of activities of data of organizational structures consists in reliable and circumspect implementation by bank of credit policy and lending procedures.

3.3. Functions of the organization units and personnel occupied with credit activities shall be determined in the approved internal regulations in which their obligations and responsibility are accurately designated.

3.4. Activities of credit organizational structures shall be guided in the following main directions:

- procedure of submission of the statement;

- analysis of creditworthness (solvency) of the client;

- systematic review and analysis of quality of credit portfolio.

3.5. In approval process the right to make decisions according to statements on loan granting is granted to the special committee on the credits constituted from odd number of members, but at least 3 people.

The maximum amount of the credit which can be provided without approval of special committee on the credits at the level of branch is determined by requirements of general policy of crediting of bank.

Any credit deal can be concluded with the consent of at least 3 persons.

Large" the credits are issued according to requirements of Regulations No. 3/09 about "large" "podverzhennost" (The official monitor of the Republic of Moldova, 1995, No. 70, the Art. 31).

3.6. The procedure of loan granting can be subjected to double control from independent structural unit with direct provision of data to special credit committee or administrative authority of bank.

IV. Policy and lending procedures

4.1. Credit policy of bank shall be directed to protection of assets, receipt of the income and improvement of financial and economic condition of borrowers, considering safety of deposits of clients.

4.2. Policy and lending procedures are determined by regulations on general policy, and also the special instructions approved by council of the bank.

4.2.1. Such general policy and written procedures will include, but not to be limited:

Regulations on general policy of crediting of bank, accenting:

- organizational structure;

- credit bodies;

- strategy of transactions and marketing;

- types of loan;

- general crediting limits;

- credit activities at the level of branch;

- possible and sufficient guarantee or other type of providing;

- method of provision and return of the credits;

- principles of establishment of the size of interest rate;

- distribution on industries (sectors);

- review and control of credit portfolio, etc.

Detailed instructions about policy and procedures for each type of loan and advance payment including:

- internal procedures of assessment of creditworthness of the borrower;

- management and soizmereniye of risk;

- loan granting limits;

- necessary guarantee or other type of providing;

- price fixation;

- permissions;

- problematic credits and their collection;

- forming of reserves;

- description of analytical evaluation methods of creditworthness of clients.

These detailed instructions shall include also application blanks, credit agreements (contracts), forms of registration of pledge or other type of providing, etc.


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