RESOLUTION OF ADMINISTRATIVE BOARD OF NATIONAL BANK OF THE REPUBLIC OF MOLDOVA

of May 26, 2011 No. 111

About modification and amendments in Regulations about the mode of required reserves

Based on the Art. 11, 17 parts (1) and (2), and the Art. 26 Item c) the Law on National Bank of Moldova No. 548-XIII of July 21, 1995. (The official monitor of the Republic of Moldova, 1995, No. 56-57, of the Art. 624), with subsequent changes and amendments, for the purpose of increase in effective management of liquidity of banks DECIDES: Administrative board of National Bank of Moldova

1. The regulations about the mode of required reserves approved by the Resolution of Administrative board of National Bank of Moldova No. 85 of April 15, 2004. (Official monitor of the Republic of Moldova, 2004, No. 67-72, of the Art. 168), with subsequent changes and amendments, to change and add as follows:

1) to Add regulations with Item of 41 following contents:

"41. Are excluded from calculation base of required reserves:

a) the money received from National Bank of Moldova;

b) the money raised from banks - residents;

c) own means of banks reflected in balance sheets on accounts of the class II "Obligations";

2) to Add regulations with Item of 71 following contents:

"71. The regulation of required reserves of 0% is applied to the following categories of the raised funds:

a) the term deposits introduced for the term of more than 2 years which correspond to the following characteristics:

- term deposits with the fixed term (stipulated by term) more than 2 years which do not provide return of the deposited amounts of earlier caused term;

- term deposits with the term (the stipulated term) more than 2 years which conditions provide return of the amounts throughout storage of the deposit at the scheduled time, after storage duration more than 2 years.

Opening of deposits on the listed conditions does not influence the right of the depositor to claim fully or partially the amount of the enclosed deposit of earlier stipulated term;

b) deposits - guarantees and loans with the term (stipulated by term) more than 2 years.

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