Document from CIS Legislation database © 2003-2022 SojuzPravoInform LLC

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

of October 29, 2012 No. 252

About approval of the Concept on implementation of single trade platform of cash and currency tools

Based on Articles 5, 14, 15, 16, 18, 26, 40, 42 and 51 Laws No. 548-XIII of July 21, 1995 on National Bank of Moldova (The official monitor of the Republic of Moldova, 1995, No. 56-57, the Art. 624), with subsequent changes and amendments, the Administrative board of National Bank of Moldova DECIDES:

1. Approve the concept on implementation of single trade platform of cash and currency tools.

2. Accept the offer of the Bloomberg company as the won offer on implementation of single trade platform of cash and currency tools.

3. To use single trade platform of cash and currency tools as technical solution for the cash and currency transactions performed by National Bank of Moldova and licensed banks of the Republic of Moldova in the interbank market. To establish terms of implementation of platform on transaction types as follows:

1) currency interbank transactions - on March 1, 2013;

2) transactions on placement of government securities in the primary market - on July 1, 2013;

3) determination of base rate for credits/deposits in the interbank market (CHIBOR/CHIBID) - on July 1, 2013;

4) transactions with government securities and certificates of NBM in the secondary and interbank market of credits/deposits - on November 1, 2013;

5) the transactions in the money market initiated by NBM (placement of certificates of NBM, transaction repo repo/reverse, sale/purchase of government securities from/in portfolio of NBM, acceptance of term deposits from banks, issuance of credits on the security) - on April 1, 2014.

4. This resolution becomes effective from the date of publication in the Official monitor of the Republic of Moldova.

 

Chairman of Administrative board

National Bank of the Republic of Moldova 

Doreen Dregutsana

Approved by the Resolution of Administrative board of National Bank of Moldovyot on October 29, 2012 No. 252

Concept of implementation of single trade platform of cash and currency tools

I. BASIC PROVISIONS

1. Document purpose

The purpose of this document is determination of the concept of NBM concerning implementation of single trade platform for carrying out transactions of monetary management of NBM, trade in government securities on primary and the secondary security market, carrying out transactions with cash and currency tools in the interbank market, and also the conceptual description of implementable platform.

2. Terms and determinations

Certificates of National Bank of Moldova (Certificates of NBM) - the negotiable NBM debt instruments which are debt obligations of NBM before holders of these tools. Certificates are tools of the money market and are issued for the purpose of realization of monetary and monetarist policies of NBM.

The currency rate - the exchange rate of foreign currency of rather national currency or any other foreign currency.

The official rate of Moldovan leu is the national currency rate in relation to foreign currencies which is established by National Bank of Moldova.

CHIBID (Chisinau Interbank Bid Rate) - average interest rate on which bankamuchastnik of the money interbank market are granted loan of money in Moldovan lei at other banks.

CHIBOR (Chisinau Interbank Offered Rate) - average interest rate on which at participating banks of the money interbank market the loan of money in Moldovan lei is granted by other banks.

Currency interventions - purchase transactions and sales of foreign currency between National Bank of Moldova and licensed banks within realization of monetarist policies.

Transactions of monetary management - the transactions which are carried out at the initiative of NBM through auctions or by direct negotiations with participation of licensed banks (sale/purchase of government securities from/in portfolio of NBM, repo operation, the deposits/credits, currency interventions).

System of records on accounts (SZS) - system by means of which government securities and certificates of NBM issued in the form of reflection on the account are registered and considered by National Bank of Moldova.

The Automated Interbank Payment System (AIPS) is system through which interbank payments in Moldovan lei in the territory of the Republic of Moldova are made.

SWAP is the currency transaction consisting of two currency transactions of exchange with the same bank, namely, the transaction on purchase (sale) - transaction of SPOT by bank 1 and at the same time sale (purchase) urgent (the forward transaction) bank of 1 same amount of foreign currency against Moldovan lei, but with different value dates and using the currency rate of SPOT and FORVARD (the difference is expressed in swap Items) which are determined at the time of the conclusion of the transaction of SVOP.

The Government Securities (GS) - the tool of public debt issued by the Ministry of Finance of RM in the form of negotsiirovanny security.

3. The regulating base

1) the Law on National Bank of Moldova No. 548-XIII of July 21, 1995. (The official monitor of the Republic of Moldova, 1995, No. 56-57, the Art. 624), with subsequent changes and amendments;

2) the Law on currency control No. 62-XVI of March 21, 2008. (The official monitor of the Republic of Moldova, 2008, No. 127-130, the Art. 496), with subsequent changes and amendments;

3) the Law on public debt, the state guarantees and the state recrediting No. 419-XVI of December 22, 2006. (The official monitor of the Republic of Moldova, 2007, No. 32-35, the Art. 114), with subsequent changes and amendments;

5) Regulations about issue, the address and repayment of Certificates of National Bank of Moldova No. approved by the Decision of the NBM Administrative board. 200 of August 12, 2004. (The official monitor of the Republic of Moldova, 2004, No. 163-167, the Art. 325), with subsequent changes and amendments;

6) the Regulations about system of record on security accounts of Moldova approved by the Decision of the NBM Administrative board, the protocol No. 8 of February 2, 1996. (The official monitor of the Republic of Moldova, 1996, No. 26-27, the Art. 29), with subsequent changes and amendments;

Warning!!!

This is not a full text of document! Document shown in Demo mode!

If you have active License, please Login, or get License for Full Access.

With Full access you can get: full text of document, original text of document in Russian, attachments (if exist) and see History and Statistics of your work.

Get License for Full Access Now

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info

Effectively work with search system

Database include more 50000 documents. You can find needed documents using search system. For effective work you can mix any on documents parameters: country, documents type, date range, teams or tags.
More about search system

Get help

If you cannot find the required document, or you do not know where to begin, go to Help section.

In this section, we’ve tried to describe in detail the features and capabilities of the system, as well as the most effective techniques for working with the database.

You also may open the section Frequently asked questions. This section provides answers to questions set by users.

Search engine created by SojuzPravoInform LLC. UI/UX design by Intelliants.