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

of October 25, 2012 No. 250

About approval of Regulations about System of records on security accounts

Based on the Art. 11, 26 items c) and Art. 40 of the item b) the Law on National Bank of Moldova No. 548-XIII of July 21, 1995. (The official monitor of the Republic of Moldova, 1995, Art. No. 56-57, 624), with subsequent changes and amendments, DECIDES: Administrative board of National Bank of Moldova

1. Approve Regulations about System of records on security accounts according to appendix.

2. This resolution becomes effective since April 1, 2013.

Appendix

to the Resolution of Administrative board of National Bank of the Republic of Moldova of October 25, 2012 No. 250

Regulations about System of records on security accounts

Chapter I General provisions

1. These regulations establish the general regulatory base, procedure for the organization and functioning of System of the records on security accounts (further - SZS) organized and administered by National Bank of Moldova according to the Law on National Bank of Moldova No. 548-XIII of July 21, 1995 (repeated publication: The official monitor of the Republic of Moldova, 2015, Art. No. 297-300, 544), with subsequent changes and amendments, the Law on debt of the public sector, the state guarantees and the state recrediting No. 419-XVI of December 22, 2006 (repeated publication: The official monitor of the Republic of Moldova, 2014, Art. No. 397-399, 704), with subsequent changes and amendments, the Law on finality of calculations in payment systems and settlement systems for financial instruments No. 183 of July 22, 2016. (The official monitor of the Republic of Moldova, 2016, Art. No. 306-313, 653), with subsequent changes and amendments, and the Law on agreements on financial provision No. 184 of July 22, 2016. (Official monitor of the Republic of Moldova, 2016, Art. No. 306-313, 653).

2. Requirements of these regulations are applied to members of SZS, and also to investors - legal entities and physical persons, owners of these securities.

3. In these regulations the used expressions and terms have the following values:

a) treasury obligations - the government securities emitted with discount and redeemed on repayment date at par value, having circulation period up to one year (short-term);

b) certificates of National Bank of Moldova (further - certificates of NBM) - the securities emitted by National Bank with discount and redeemed on repayment date at par value, having circulation period up to one year;

c) the ISIN code - the single code assigned for each issue of securities;

-1) about the IBAN code - the sequence of symbols which unambiguously identify at the international level of accounts of any bank opened in National Bank, allowing to identify the payer and the beneficiary of payment in the transaction;

d) security accounts - the accounts opened in SZS for accounting of dematerializovanny securities;

e) intra overnight credit - the loan in the form of money withdrawal over remaining balance on settlement accounts of banks (overdraft) granted by National Bank during the operational day for ensuring timeliness of implementation of calculations and provided with securities;

f) the credit overnight - the loan granted by National Bank for one night (overnight) to banks for covering of the overdraft which is not extinguished for the end of operational day, and also for the purpose of satisfaction of temporary needs for liquidity and provided with securities;

g) reporting date - date when members of SZS provide to National Bank information on the current remaining balance of the securities which are in own portfolio and in portfolios of clients;

h) DvP model I - calculation method with securities in case of which both money transfer, and the translation of securities are performed on gross basis, respectively, the transaction behind the transaction;

i) the holder - the participant who registered also records securities on the customer account (the account II or IV) in SZS of National Bank on behalf of the clients;

j) the registered security holder - the participant whose name (name) is entered into SZS on reporting date;

k) the primary dealer - according to determination of the Regulations about placement and the redemption of government securities in the form of records on accounts approved by the Resolution of Administrative board of National Bank of Moldova No. 96 of the May 17, 2013 approved by the Ministry of Finance of the Republic of Moldova No. 13/2-1/133 of May 17, 2013. (Official monitor of the Republic of Moldova, 2013, Art. No. 125-129, 887);

l) the transfer order - the instruction by means of which the member of SZS asks to translate the property right to the securities registered in SZS by entering of record into the register of their accounting, according to these regulations;

m) delivery against payment (Delivery versus payment, DvP) - the principle according to which final (final) calculation of security transaction takes place through final (irrevocable and unconditional) the translation of securities from the seller to the buyer, if only if is made final (irrevocable and unconditional) money transfer from the buyer to the seller;

n) delivery without payment (Free of payment, FoP) - the translation of securities which is not connected with the corresponding money transfer;

o) limiting timepoint - the moment to which processing of certain transactions is resolved. SZS by specifying in the payment order or for processing of different types of instructions within the corresponding transactions is established;

p) ceased to be valid;

q) government bonds - the government securities emitted with discount, at par value or with award of one year and more on which the issuer periodically pays interests, proceeding from fixed or floating interest rate in accordance with the terms of issue, and redeemed on repayment date at par value;

r) transactions of REPO - transaction of security sale with subsequent their redemption for certain date and at the determined price established on sale date;

s) the participant - the legal entity who has, at least, one security account in SZS supported by National Bank and also the current account in National Bank;

t) the authorized person - the employee of National Bank of Moldova having right of access to data and transfer of the instructions relating to accounts, transfers and other transactions at the first level in SZS, or person authorized by the participant through the power of attorney provided to National Bank to perform transactions with securities at the second level in SZS, to send to National Bank transfer orders and other information;

u) the owner - person who registered the securities considered at the first or second level in SZS on the name;

v) the automated interbank payment system (AIPS) - the system intended for implementation of interbank payments in Moldovan lei in the territory of the Republic of Moldova including calculations on gross basis, in real time (DBTR system) and system of compensation of calculations on net basis (CDN system);

w) system of records on accounts (SZS) - the storage system and calculation of securities organized and administered by National Bank according to requirements of these regulations;

x) security in the form of record on accounts - security for which release, accounting and confirmation of the property right are performed by registration on the accounts opened in SZS;

y) the government securities (GS) - the securities issued by the Ministry of Finance of the Republic of Moldova in the form of treasury obligations and/or government bonds.

3-1. For the purpose of these regulations also concepts are used from:

1) the Law on finality of calculations in payment systems and settlement systems for financial instruments No. 183 of July 22, 2016. (The official monitor of the Republic of Moldova, 2016, Art. No. 306-313, 653), with subsequent changes and amendments;

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