LAW OF THE REPUBLIC OF MOLDOVA

of October 12, 2018 No. 209

About National committee on financial stability

The parliament adopts this ordinary law.

Chapter I General provisions

Article 1. Subject and purpose of the law

(1) This law regulates procedure for the organization and functioning of National committee on financial stability for the purpose of coordinating of implementation of macroprudential policy, prevention, reducing or elimination of the risks menacing to financial stability at the system level and also management of system financial crisis situations.

(2) the National committee on financial stability (further - Committee) is structure of interdepartmental cooperation, without the status of the legal entity which represents the macroprudential national appointed authority responsible for coordinating of implementation of macroprudential policy and activities for prevention and permission of system financial crisis situations according to provisions of this law.

Article 2. Basic concepts

For the purpose of this law the following concepts are used:

system financial crisis - system crisis in sense of the Law on improvement of banks and the bank resolution No. 232/2016;

macroprudential tools - the tools applicable for goal achievement of macroprudential policy, including requirements to the capital, requirements to assets, requirements to liquidity and measures connected with management of credit exposure or financing of certain sectors;

macroprudential policy - set the politician and the tools directed to decrease in systemic risk;

systemic risk - risk of violation of financial system which can lead to serious negative effects for financial system and real economy;

financial system - all subjects of the banking and non-bank financial sector, the financial markets, products and infrastructures of the financial markets;

financial stability - situation in which accumulating of systemic risk is prevented.

Article 3. Structure of Committee, including Expanded committee

(1) are part of Committee:

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