LAW OF THE REPUBLIC OF MOLDOVA

of December 26, 2024 No. 314

About modification of some regulations (the aspects connected with improvement of banks and settlement of their insolvency)

The Parliament adopts this organic law.

This law shifts Items 71a and 109 parts (1) Articles 2, part (1) articles 16a, Item (ha) of part (5) Articles 17, article 33a, part (3) Articles 34, of part (2) and (5) Articles 36, part (10) Articles 37, part (2) Articles 38, part (2) Articles 39, Item (g) of part (1) and part (4) Articles 41, part (6) Articles 42, part (1) Articles 45, Item (b) of part (1) articles 45c, article 45k, Item (c) parts (1) Articles 48, of part (1) and (3) Articles 52, of part (2) and (4) Articles 55, part (1) Articles 56, Items (c) and (d) of part (1) Articles 60, of part (1), (3) and (4) articles 71a, Items (b) and (d) of part (2), Items (b) – (e) of part (3) and part (5) Article 97 of the Directive of the European parliament and Council 2014/59/EU of May 15, 2014 about creation of the mechanism of improvement of credit institutes and investment companies and settlements of their insolvency and modification of the Directive of Council 82/891/EES and in directives of the European parliament and Council 2001/24/CE, 2002/47/CE, 2004/25/CE, 2005/56/CE, 2007/36/CE, 2011/35/EC, 2012/30/EC and 2013/36/EC, and also in regulations (EU) of the European parliament and Council No. 1093/2010 and No. 648/2012 (action of the document extends to EEP), published in the Official magazine of the European Union by L 173 of June 12, 2014, CELEX: 32014L0059, with the changes made by Regulations (EU) of the European parliament and Council No. 2022/2036 of October 19, 2022.

Art. I. – In the Law on liquidation of banks No. 550/1995 (repeated publication: The official monitor of the Republic of Moldova, 2011, Art. No. 78-81, 199), with subsequent changes to make the following changes:

1. In all text of the law of the word "The Law on Guaranteeing Deposits in Bank System No. 575/2003" in the corresponding case shall be replaced with words "The law on guaranteeing deposits in banks No. 160/2023" in the corresponding case.

2. In part (3) Article 38-11:

Item g) to state in the following edition:

"g) other requirements, except provided by Items a), b), d), f) and h) – m);";

add part with Items h) – m) the following content:

"h) requirements of direct and indirect owners of the equity interests of bank, except as specified, provided by Items l) and m);

i) the requirements following from the debt instruments which are not switched on in Items j) – m), and meeting the following requirements:

– the initial term of their repayment under the agreement constitutes at least one year;

– they do not contain the built-in derivative tools and are not derivative financial instruments;

– contractual documents and if necessary the prospectus of the issue of the corresponding tools directly provide their reference to lower classes of requirements, than this class;

j) the subordinated debts issued by bank which cannot be qualified as own funds of the second level according to the requirements provided by the regulations of National Bank of Moldova published for application of provisions of articles 60 and 61 of the Law on activities of banks No. 202/2017;

k) the tools of own funds of the second level conforming to the requirements provided by the regulations of National Bank of Moldova published for application of provisions of articles 60 and 61 of the Law on activities of banks No. 202/2017;

l) the tools of additional own funds of the first level conforming to the requirements provided by the regulations of National Bank of Moldova published for application of provisions of articles 60 and 61 of the Law on activities of banks No. 202/2017;

m) the tools of the fixed own assets of the first level conforming to the requirements provided by the regulations of National Bank of Moldova published for application of provisions of articles 60 and 61 of the Law on activities of banks No. 202/2017.";

parts (3-3), (7) and (to recognize 8) invalid.

Art. II. – In part (4) article 10 of the Law on government assistance No. 139/2012 (Official monitor of the Republic of Moldova, 2012, No. 166-169a, Art. 565), with subsequent changes, word "in difficult situation", shall be replaced with words "in extremely difficult situation,".

Art. III. – In the Law on improvement of banks and the bank resolution No. 232/2016 (Official monitor of the Republic of Moldova, 2016, Art. No. 343-346, 707), with subsequent changes, to make the following changes:

1. After formula of acceptance to add with formula of harmonization of the following content:

"This law partially shifts the Directive of the European parliament and Council 2014/59/EU of May 15, 2014 about creation of the mechanism of improvement of credit institutes and investment companies and settlements of their insolvency and modification of the Directive of Council 82/891/EES and in directives of the European parliament and Council 2001/24/CE, 2002/47/CE, 2004/25/CE, 2005/56/CE, 2007/36/CE, 2011/35/EC, 2012/30/EC and 2013/36/EC, and also in regulations (EU) of the European parliament and Council No. 1093/2010 and No. 648/2012 (action of the document extends to EEP), published in the Official magazine of the European Union by L 173 of June 12, 2014, CELEX: 32014L0059, with the changes made by Regulations (EU) of the European parliament and Council No. 2022/2036 of October 19, 2022.".

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