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

of March 27, 2003 No. 65

About approval of Regulations about the deposits overnight accepted by National Bank of Moldova from banks

(as amended on on July 31, 2008)

Based on Art. 45 of the Law on National Bank of Moldova and for the purpose of maintenance of conditions of the money market the Administrative board of National Bank of Moldova DECIDES: N548-XIII of July 21, 1995

1. Approve Regulations about the deposits overnight accepted by National Bank of Moldova from banks it (is applied).

2. To the Department of Market Transactions (DMT), accounting department and department of information technologies and data processing to take necessary measures for ensuring accomplishment of this resolution till September 15, 2003.

3. This resolution becomes effective since September 20, 2003 and is published in "Monitorul Oficial al Republicii Moldova".

Chairman

Administrative

National council

bank of Moldova Leonid Talmach

Regulations about the deposits overnight accepted by National Bank of Moldova from banks

Chapter 1 General provisions

1. These Regulations establish procedure for acceptance by National Bank of Moldova (further NBM) deposits overnight in Moldovan lei from licensed banks (further banks).

2. NBM accepts deposits overnight from banks based on Art. 45 of the Law on National Bank of Moldova of N548-XIII of July 21, 1995 for the purpose of maintenance of conditions of the money market.

3. The deposit overnight is the permanent mechanism provided to NBM to the banks allowing to place for one night in NBM deposits overnight on own initiative.

4. Depending on market conditions and according to the purposes of monetary management, NBM can establish periods/days during which overnight does not accept deposits.

5. The National Bank of Moldova periodically publishes data on the deposits overnight accepted by NBM in mass media.

Chapter 2 of the Condition of use of the deposit overnight

6. The size of the accepted NBM of deposits overnight is not limited.

7. Overnight is the deposit the deposit for a period of one day.

8. In cases when NBM establishes the day/period in which deposits overnight are not accepted, the Department of market transactions (further DRO) previously informs banks (appendix 2 to regulations) through the Mesaje interbancare system with use transport components of the Automated interbank payment system (further - ASMP), and also by placement of the corresponding notice on the Web page. The notice will be sent to banks no later than 16:00 in the afternoon / the first day of the established period in which deposits overnight are not accepted.

9. The bank can perform daily only one transaction on placement in NBM of the deposit overnight.

10. The deposit interest rate overnight is established by the NBM Administrative board, published in seal and on Web to the NBM page and applied from the date of entry into force of the resolution of Administrative board.

11. DRO informs banks, through the Mesaje Interbancare system by means of transport the ASMP components and Department of the budget, finance and financial accounting (DBFBU) on deposit interest rate overnight, in process of its change, by e-mail.

12. Overnight is considered day of deposit placement day of transfer of deposit amount into the deposit account overnight of bank in NBM.

13. Overnight is day of return of the deposit the first operational day following behind day of its placement.

14. Deposit interests overnight are charged on formula of simple percent calculated on the basis of 1 year - 365 days.

15. In case of deposit placement overnight in operational day prior to days off or holidays, banks is performed interest payment for the actual term of deposit placement in NBM.

16. Deposit interests overnight are charged from the date of transfer of the amount into the deposit account overnight in NBM about day of return of the amount from this deposit on the settlement account of bank in ASMP (the account of Loro). For day of the transfer of NBM of deposit amount on the settlement account "Loro" of bank, percent are not charged.

17. NBM pays the interests added on the deposit overnight on repayment date of the deposit.

18. Deposit placement term overnight is not prolonged.

19. The bank means placed in NBM into deposit accounts overnight are not considered as required reserves.

20. Information on placement of deposits overnight by banks is trade secret.

21. Financial accounting of transactions on deposits overnight is kept according to the Chart of accounts of NBM and the Chart of accounts of financial accounting in banks and other financial institutions of the Republic of Moldova.

22. For opening of the account and acceptance of NBM of the deposit overnight the sales charge is not established.

23. The conditions of the deposit mechanism overnight provided by these regulations together with the Agreement of the deposit overnight constitute contractual commitments - when using the deposit mechanism.

Chapter 3 Participants of the deposit mechanism overnight

24. For the purpose of use of excess liquidity, banks of the Republic of Moldova can deposit with NBM deposits overnight if:

- signed with NBM the usage agreement of the deposit mechanism overnight;

- signed the contribution agreement in the automated interbank payment system;

25. The list of the banks allowed to deposit benefit overnight is drawn up by DRO and goes, in process of its change, by e-mail and on paper, to traffic police and DBFBU till 16:00 o'clock, and overnight is the basis for acceptance from banks of deposits.

Chapter 4 Adoption of deposits overnight

26. For receipt of the right to place the deposit overnight, banks sign the Contract with NBM (appendix 1) in which conditions and procedure for use of this mechanism make a reservation.

27. The agreement on the deposit overnight is signed for the unrestricted period.

28. The agreement can be terminated at the initiative of one of the parties, with the prior written notice about it the counter party, in 3 working days prior to its termination at any time.

29. On the deposit overnight changes or additions, from mutual assent of the parties, taking into account changes and additions made to Regulations can be made to the agreement.

30. The National Bank will report to banks by means of the notification number of the balance sheet account opened for deposit placement overnight.

31. For placement of deposits overnight, banks, make transfer of deposit amounts overnight by means of the payment order constituted according to the existing regulations, having specified in the heading "Destina\ia pl=\ii" the text "to Transfer pentru plasare] n cont de depozit overgniht la BNM.

32. Payment orders for placement of deposits overnight go banks for operational day of ASMP and NBM throughout the stage "Transactions Overnight" of the schedule of operational day of ASMP are processed.

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