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

of November 11, 2011 No. 251

About modification of Regulations about the mode of required reserves

Based on the Art. 11, 17 and Art. 26 of the item c) the Law No. 548-XIII of July 21, 1995 on National Bank of Moldova (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. In 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 make the following changes:

1) In Item of 71 subitems and) to state in the following edition:

"a) term deposits with storage duration more than 2 years which correspond to the following characteristics:

- term deposits with the stipulated storage duration more than 2 years, with the right or without the replenishment right during deposit storage period which do not provide return of the deposited amounts of earlier stipulated term;

- term deposits with the stipulated term more than 2 years which conditions do not provide replenishment, but provide return of the amounts throughout storage of the deposit in predefined terms, after storage period more than 2 years.

For deposits with the right of replenishment and for deposits which conditions provide capitalization of percent on the deposit account regulation of required reserves, the equal 0%, are applied to initial deposit amounts, to the amounts of additional contributions and to the amounts of capitalized interest with storage duration more than 2 years.

Attraction of deposits on the specified conditions does not influence the right of the depositor to claim fully or partially the amount of the enclosed deposit before the expiration of the stipulated term;".

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