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RESOLUTION OF NATIONAL BANK OF THE REPUBLIC OF MOLDOVA

of August 26, 2015 No. 3

About the level of interest rates of National Bank of Moldova and regulation of required reserves

(as amended of the Resolution of National Bank of the Republic of Moldova of 29.03.2017 No. 73)

Based on Article 17, 27, Item 1 a) of the Law No. 548-XIII of July 21, 1995 on National Bank of Moldova (Monitorul Oficial al Republicii Moldova, 1995, Art. No. 56-57, 624), with subsequent changes and amendments, and according to the Strategy of monetary management of National Bank of Moldova for the medium-term period, is approved by the Resolution of Administrative board of National Bank of Moldova No. 303 of December 27 2012, considering the Report on macroeconomic situation, August, 2015, the Executive committee of National Bank of Moldova DECIDES:

1. Increase the basic rate applied on the main short-term transactions of monetary management by 2.0 percent points, from 17.5% to 19.5% per annum.

2. Increase the following interest rates:

a) on the credits overnight on 2.0 percent points, from 20.5% to 22.5% per annum;

b) on deposits overnight on 2.0 percent points, from 14.5% to 16.5% per annum.

3. Ceased to be valid according to the Resolution of National Bank of the Republic of Moldova of 29.03.2017 No. 73

4. Keep regulation of required reserves on the raised funds in freely convertible currency at the level of 14.0% of calculation base.

5. Items 1, 2 presents of the resolution become effective on September 2, 2015.

6. Item 3 of this resolution becomes effective on October 8, 2015.

7. From the date of entry into force of Item 3 of this resolution to declare invalid Item 3 of the Resolution of Administrative board of National Bank of Moldova No. 200 of 30.07.2015 about the level of interest rates of National Bank of Moldova and regulation of obyazyatelny reserves (Monitorul Oficial al Republicii Moldova, 2015, No. 206-210 the Art. 1388).

8. This resolution becomes effective from the date of acceptance and is published in Monitorul Oficial al Republicii Moldova.

Chairman of Executive committee of National Bank of Moldova

Doreen Dregutsana

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