RESOLUTION OF NATIONAL BANK OF THE REPUBLIC OF MOLDOVA

of February 22, 2017 No. 52

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

Based on Article 27 parts (1), Item a) the Law No. 548-XIII of July 21, 1995 on National Bank of Moldova (pereopublikovan: Monitorul Oficial al Republicii Moldova, 2015, Art. No. 297-300, 544) and according to the Strategy of monetary management of National Bank of Moldova for the medium-term period approved by the Resolution of Administrative board of National Bank of Moldova No. 303 of December 27 2012, considering the Report on macroeconomic situation in February, 2017, the Executive committee of National Bank of Moldova DECIDES:

1. Keep the basic rate applied on the main short-term transactions of monetary management at the current level in the amount of 9.0% per annum.

2. Keep the following interest rates:

a) on the credits overnight in the amount of 12.0% per annum;

b) on deposits overnight in the amount of 6.0% per annum.

3. Keep regulation of required reserves from the raised funds in Moldovan lei and inconvertible currency at the current level in the amount of 35.0% of calculation base.

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

5. In the context of coordinating cash and budget and fiscal the politician to initiate dialogue with the Ministry of Finance about excess liquidity in banking sector and to consider the possibility of implementation together with the Ministry of Finance of not conventional measures for sterilization of excess liquidity.

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

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