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

of November 17, 2011 No. 255

About approval of the Instruction about procedure for creation and submission by banks of the report on cash statistics

(as amended on 26-09-2019)

Based on Art. 11 and 72 of the Law No. 548-XIII of July 21, 1995 on National Bank of Moldova (The official monitor of the Republic of Moldova, 1995, Art. No. 56-57, 624), with subsequent changes and amendments, and the Art. 33, 37 and 40 Laws on financial institutions No. 550-XIII of July 21, 1995 (repeated publication: The official monitor of the Republic of Moldova, 2011, Art. No. 78-81, 199), with subsequent changes and amendments, DECIDES: Administrative board of National Bank of Moldova

1. Approve the Instruction about procedure for creation and submission by banks of the report on cash statistics, according to appendix No. 1.

2. Recognize invalid resolutions of Administrative Board of National Bank of Moldova, according to Appendix No. 2.

3. This resolution is published in the Official monitor of the Republic of Moldova and becomes effective since January 1, 2012.

Chairman of Administrative board of National Bank of Moldova

Doreen Dregutsana

Appendix No. 1

to the Resolution of Administrative board of National Bank of Moldova of November 17, 2011 No. 255

The instruction about procedure for creation and submission by banks of the report on cash statistics

Chapter I. General provisions

1. This instruction determines procedure for creation of the report on monetary statistics according to appendices in which accounts of banks are classified by the categories necessary for carrying out the cash analysis, creation of monetary programs and control of their implementation.

2. In this instruction the following terms and expressions are used:

1) Cash balance - the statistical overview of all categories of balance sheet assets and liabilities which balance exists by the end of the reporting period, classified and broken up into smaller units so that calculation of cash aggregates and their equivalents was possible.

2) the Economic territory of the state represents the geographical territory managed by the government within which people, goods and the capital move freely. (According to System of national accounts, hl. The III State program of transition of the Republic of Moldova to the international system of financial accounting and statistics, to the Order of the Government No. 710 of September 23, 1994, further - System of national accounts).

3) Physical person is the person considered individually as the carrier of the civil laws and obligations. (According to Art. 17 of the Civil code of the Republic of Moldova No. 1107 of June 6, 2002)

4) the Legal entity the organization which has the isolated property in property and answers for the obligations this property is recognized, can acquire and perform on its own behalf the property and personal non-property rights, perform duties, to be claimant and the defendant in degree of jurisdiction (according to Art. 55 of the Civil code of the Republic of Moldova No. 1107 of June 6, 2002).

5) the Center of economic interest of physical person or legal entity within the country exists when in the economic territory of this country there are places in which or by means of which this person performs economic activity and transactions within more than one year (according to System of national accounts).

6) the Resident corresponds to Article 3 Items 9) of the Law on currency control No. 62-XVI of March 21, 2008.

7) the Nonresident corresponds to Article 3 Items 10) of the Law on currency control No. 62-XVI of March 21, 2008.

8) Institutional unit is the economic resident unit having the center of interest in this territory, caused by its economic activity in this territory within at least one year, having independence in adoption of the main decisions and capable to assume obligations and/or owning assets (according to System of national accounts).

9) the Institutional sector is set of the institutional units uniform from the point of view of the carried-out functions and sources of financing (according to System of national accounts).

3. In this instruction residents of Moldova are grouped to the following institutional sectors:

1) the Sector of finance corporations includes institutional units which main function consists in financing, i.e. collection, transformation and redistribution of financial assets. Their main resources are created due to undertaken obligations and drawn interest (according to System of national accounts).

This sector includes credit institutions, the insurance companies and other financial mediations.

a) Central Bank is the institutional split including National Bank of Moldova;

b) Banks and other financial institutions include the following components:

– banks - the legal entities corresponding to determination "bank" according to article 2 of the Law on National Bank of Moldova No. 548-XIII of July 21, 1995;

– the saving and loan associations (SLA) having the license of categories B and C - the legal entities corresponding to determination "saving and loan association" according to article 3 of the Law on saving and loan associations No. 139-XVI of June 21, 2007 which have the license of category B and C according to Item (3) and Item of article 29 of this law;

c) the extra financial banking sector includes the following components:

- Insurers (overcautious persons) - the legal entities registered in the Republic of Moldova who according to the Insurance law No. 407-XVI of December 21, 2006 have the license for implementation of insurance (reinsurance) activity which, generally includes submission of offers on the conclusion of insurance contracts and reinsurance, negotiating and the conclusion of such agreements, receipt of awards, settlement of damage, implementation of actions for expense recovery and recourse activities (according to Article 1 of the Insurance law No. 407-XVI of 21:12. 2006);

- non-state pension funds - the non-profit organizations performing the collection and accounting of the money contributions brought voluntarily by physical persons or legal entities or from their name, providing increment of these means for payment of additional pension (according to article 2 of the Law on non-state pension funds No. 329-XIV of March 25, 1999);

- other financial intermediaries which enter:

non-bank credit institutions – the legal entities corresponding to determination "non-bank credit institution" according to Art. 3 of the Law No. 1 of March 16, 2018 on non-bank credit institutions;

the saving and loan associations (SLA) having the license of category A - the legal entities corresponding to determination "saving and loan associations" according to article 3 of the Law on saving and loan associations No. 139-XVI of June 21, 2007 which have the license of category A according to Item (2) article 29 of this Law;

the organizations of collective investment into securities (OKITsB) are the investment companies described in Item (1) article 89 of the Law on the capital market No. 171 of July 11, 2012.);

financial leasing companies - legal entities whose core activity is financing of purchase of tangible assets (according to the Law on leasing No. 59-XVI of April 28, 2005);

- auxiliary financial units - financial institutions, whose activities it is connected with financial intermediation, but which do not function as financial intermediaries.

2) the Sector of state bodies includes institutional units which main function consists in provision of non-market services for individual and collective consumption and implementation of transactions on income redistribution of the state. Resources of these units are created due to obligatory payments of units belonging to other sectors (according to System of national accounts). This institutional sector is divided into two splits:

a) the central executive bodies including the central authorities which jurisdiction extends to all territory of the country, including non-profit organizations controlled and financed by the central executive bodies (according to System of national accounts);

b) The local authorities including local administrations which jurisdiction extends only to local administrative units, including the non-profit organizations controlled and financed by local authorities (according to System of national accounts).

3) the Sector of non-financial societies unites institutional units which main function is production of goods and non-financial services for the market whose resources are created at the expense of the means received from sales of goods and services (according to System of national accounts).

This sector includes the companies including their branches, representations, and also affiliated commercial societies which main objective is production of goods and non-financial services. The sector contains two splits:

a) non-financial commercial societies unite commercial societies with prevalence of the state capital, including the affiliated commercial societies controlled by state bodies in case of possession of the last of the property right to more than 50 percent of the capital;

b) non-financial commercial societies unite commercial societies in which more than 50 percent of the capital belong to private sector or the foreign capital with prevalence of private equity.

4) the Sector Other sectors residents consists of the following splits:

a) the households consisting of one physical person or group of the physical persons performing at the same time function of consumers and perhaps function of producers.

Treat this split:

- the physical persons uniting the physical persons living independently, and groups of the physical persons living and consuming goods and services jointly who can make goods and/or non-financial services only for own consumption;

- physical persons which perform activities - the associations of physical persons which do not have the status of the legal entity, but being producers of goods and services in the market namely: sole proprietor companies, farms, notaries, lawyers, legal executives, etc.

b) the non-profit organizations serving households unite institutional units which function is provision of non-market services to households free of charge or at the prices which are not economically significant. Their resources are created at the expense of voluntary contributions and property incomes. This sector treat: labor unions, political parties, religious societies, cultural and sports associations, etc. (according to System of national accounts).

4. The sector nonresidents of Moldova is divided into the following categories:

1) bank institutions include Central Bank, banks and other financial institutions;

2) non-bank organizations include the governmental bodies, non-financial corporations, the non-bank financial sector, households and non-profit organizations serving households.

5. Balance sheet assets are reflected in gross basis and are classified as follows:

1) money is banknotes and coin which have the fixed nominal value and is issued by Central Bank or the government. Travel checks also belong to this category;

2) loans - represent financial assets which are created when the creditor provides means directly to the borrower and which are certified by not addressing tools. This category includes:

a) the credits - any obligations to lend money with condition of their repayment, interest payment and other related payments; any prolongation of repayment period of debt; any guarantees, and also any obligations to acquire debt obligations or other rights to implementation of payments;

b) agreements on the subsequent redemption (repo) - transaction of security sale or other assets other than loans, with the subsequent redemption of the same securities or other assets in certain time or on demand at the price determined on sale date;

c) financial leasing - the transaction performed on contractual basis according to which one party (lessor) (leasing recipient) shall provide according to the petition of other party in temporary ownership and use the thing acquired or made by the lessor instead of periodical payments (leasing payments) and after the duration of the agreement shall observe the right of the leasing recipient to choose: acquire thing, extend the agreement of leasing or stop contractual relations.

3) securities (except shares) - freely addressing financial instruments.

Join in this category:

a) bonds and other securities, including deposit receipts on these securities, namely: government securities, treasurer bills of exchange, certificates of National Bank and other financial institutions etc.;

b) any other financial instruments which can be converted or the granting rights to purchase or security sale determined in Item and).

4) Shares and other forms of equity participation - the accounting documents existing or in the form of the certificates printed by typographical method or in the form of records on the analytical accounts opened addressed to owners of these securities, or addressed to their nominal owners in the register of owners of such securities and the parts of the authorized capital confirming the right of shareholders/owners to participation in management of joint-stock company, receipt of dividends, and also the right to residual cost of property in case of liquidation of this society.

5) Insurance technical reserves represent obligations of the insurance companies / non-state pension funds to holders of agreements and consist of assessment of future payments for risks of last periods or those which are possible in the future.

6) Derivative financial instruments - the financial instruments provided by the contracts providing realization of the rights and/or obligation fulfillment connected with the change in price of underlying asset for agreement parties. The financial instruments, goods, indexes or indicators estimating various events, statistical information by means of which in the financial market transactions of purchase and sale of financial risks can be performed under this agreement can act as underlying asset, namely: interest rate risk, currency risk, risk of change of share prices and consumer prices, credit risk, etc.

The category of derivative financial instruments includes forward contracts, futures, swaps and options.

7) Non-financial assets - the assets connected with productive activity and controlled values. Non-financial assets include non-current tangible and intangible assets, inventory stocks and non-productive assets: the earth, the filled natural biological and ecological resources.

8) The fixed assets - non-current tangible and intangible assets which are held for use during over a year. Land areas and buildings of credit institutes, assets with right to use received in operational leasing, the equipment, the software and other belong to this category.

6. Balance sheet liabilities are reflected in gross basis and are classified as follows:

1) deposits (deposits) - made money which is subject to return in time or poste restante with percent either without them or in any other form or on the conditions established jointly by the depositor (investor) or person authorized by it and the bank accepting money do not belong to subordinated debts, to the property right or to rendering services, including insurance, prove to be true or are not confirmed by any record, any receipt, any reference or other document of the bank accepting money.

Now the following types of deposits are used:

a) translated deposits - deposits which can be exchanged for cash on the first demand of without payment of penalty and without restrictions, can be used directly for implementation of payments by checks, drafts, payment orders, direct transfer / write-off for the account, and also with use of other mechanisms of direct payments;

b) other deposits include all requirements which are confirmed with the certificate on contribution, except for translated deposits. These deposits give to banks opportunity to avoid unforeseen withdrawal of the raised funds.

This category includes:

- term deposits - the short, average and long-term deposits attracted with bank for the period determined earlier by clients or other banks. Term deposits are not translated deposits and cannot be transferred to cash before the termination of the date determined in the contract or which can be transferred to cash before term with payment of penal penalty fee;

- savings deposits - the deposits representing combination of current accounts and term deposits with the increased flexibility of use in comparison with term deposits as they are not connected by certain term and allow to perform replenishment or money withdrawal at any time. At the same time there are certain restrictions: minimum amount when opening the account and the minimum remaining balance which is not subject to removal; the replenishment or withdrawal caused by certain cash limits; restriction of the made transactions on these with deposits etc. that distinguishes them from current accounts;

- deposits overnight - deposits for a period of one day which can be converted into cash or are translated on demand by the check, the payment order or similar means without restrictions or penalties;

- on-demand deposits - the deposits which are allowing immediate cash withdrawal of money, but not giving the chance of direct transfer of means to the third parties;

- not translated foreign currency deposits.

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