ORDER OF THE GOVERNMENT OF THE REPUBLIC OF MOLDOVA

of November 13, 2014 No. 938

About ensuring macroeconomic stability in the context of regional environment

1. Based on Item f) parts (1) Articles 3, parts (2) Articles 3, Item c) Article 27 and part (1) article 35-1 of the Law No. 419-XVI of December 22, 2006 on public debt, the state guarantees and the state recrediting, with subsequent changes and amendments, based on the protocol No. 2 of November 7, 2014 of meeting of National committee on financial stability to accept the offer of National committee on financial stability on provision, in case of need, by National Bank of Moldova to licensed banks of the emergency credits to the amount to 9500 million lei for the purpose of ensuring stability of financial system and release of the state guarantee (guarantees) for guaranteeing the emergency credits issued by National Bank of Moldova.

2. Issue to the Ministry of Finance on behalf of the Government the above-stated state guarantee (guarantees) not later than 2 working days from the date of the publication of this Resolution which attracts legal effects from the moment of organization with National Bank of Moldova of special bank management, according to article 37-4 of the Law No. 550-XIII of July 21, 1995 on financial institutions.

3. The state guarantee will be replaced with the government securities issued by the Ministry of Finance in time, established by the Ministry of Finance in coordination with National Bank of Moldova.

4. The government securities specified in Item 3, are issued in situations of system financial crisis or risk of its origin, for guaranteeing the emergency loans granted by National Bank of Moldova according to provisions of parts (3) and (4) article 351 of the Law on public debt, the state guarantees and the state recrediting No. 419-XVI of December 22, 2006, with subsequent changes and amendments.

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info