LAW OF THE REPUBLIC OF MOLDOVA

of August 15, 2019 No. 114

About modification of some legal acts

The Parliament adopts this organic law.

St. I. – In the Law on National Bank of Moldova No. 548/1995 (repeated publication: The official monitor of the Republic of Moldova, 2015, Art. No. 297-300, 544), with subsequent changes to make the following changes:

1. To add article 2 after the prolog with concept of the following content:

"The help with liquidity in emergency situations – ensuring liquidity with National Bank from own money to the solvent and viable bank facing temporary problems with liquidity or any other form of the help in emergency situations which can lead to increase in amount of money of National Bank without such transaction was part of monetary management.".

2. Item e) parts (Article 5 to add 1) with words ", including the help with liquidity in emergency situations;".

3. Part (Article 17 to state 3) in the following edition:

"(3) the National Bank can pay required reserves of banks. The principles and payment procedure of required reserves are established by regulations of National Bank.".

4. In Article 18:

Items c) and d) parts (to recognize 1) invalid;

in part (2) words", accounting and inventory of negotsiiruyemy tools" shall be replaced with words "financial instruments";

part (2-1) to recognize invalid;

part (to state 3) in the following edition:

"(3) Provisions of the Administrative code are inapplicable to the procedure of development, approval, application and response or cancellation of the acts of National Bank issued in pursuance of part (2).".

5. Add the law with Article 18-1 of the following content:

"Article 18-1. The help with liquidity in extraordinary

situations

(1) For the purpose of ensuring stability of financial system the National Bank can at the complete discretion and on the conditions established by it to provide to the solvent and viable banks facing temporary problems with liquidity, the help with liquidity in emergency situations provided with the assets specified in part (1) Article 18.

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