RESOLUTION OF NATIONAL BANK OF THE REPUBLIC OF MOLDOVA

of June 23, 2022 No. 128

About approval of rate of the counter-cyclical buffer for podverzhennost from the credits which are in the Republic of Moldova

Based on the item d) parts (1) the Art. 5, parts (1) Art. 11 of the Law on National Bank of Moldova No. 548/1995, Art. 63 of the Law on activities of banks No. 202/2017 and part 4 of Chapter III of Regulations about buffers of the capital of banks approved by the Resolution of Executive committee of National Bank of Moldova No. 110/2018, proceeding from indicators of credit cycle - the indicator variation of Credits/GDP (including the loans granted to private sector of the Republic of Moldova) seasonally corrected from long-term trend constitutes - the % 10,2, ratio the Credits / quarter GDP seasonally corrected constitutes % 93,6, therefore, the indicative rate for the buffer calculated on their basis constitutes 0% - the value meaning lack of excessive growth of crediting in view of features of economy of the Republic of Moldova, and also the analysis of evolution of variables and data, which are considered necessary for approach to systemic cyclic risk, corresponding to the period 2021 T 4, noting lack of need of establishment of rate of the counter-cyclical buffer above zero, owing to discussion at meeting of 23.06.2022, the Executive committee of National Bank of Moldova DECIDES:

1. Establish rate of the counter-cyclical buffer for podverzhennost from the credits which are in the Republic of Moldova in the amount of 0% of exposure cost to risk which is applied from the date of publication in Monitorul Oficial al Republicii Moldova.

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