LAW OF THE REPUBLIC OF MOLDOVA

of October 3, 2016 No. 233

About modification and amendments in some legal acts

This organic law is adopted based on provisions of article 106-1 of the Constitution by acceptance on itself the Government of responsibility to Parliament.

Article I. – In the Law on National Bank of Moldova No. 548-XIII of July 21, 1995 (repeated publication: The official monitor of the Republic of Moldova, 2015, Art. No. 297-300, 544), with subsequent changes and amendments to make the following changes and additions:

1. In Article 5:

in part (1):

Item d) to add with the words "and branches of foreign banks" at the end;

bring Item o) the following content:

"o) is effective as body of the bank resolution according to the Law on improvement of banks and the bank resolution";

add Article with part (5) the following content:

"(5) For the purpose of ensuring stability of financial system in the situations of system financial crisis or danger of its emergence determined by the founded national authority by management of system financial crises, the National Bank can make the decision on taking measures to financial stabilization which can demand suspension or/and restriction of any payment obligations or obligations on deliveries following from any agreement which party is the subject which is under the supervision of National Bank, or any activities / transactions of this subject since day of publication of the decision on the official site of National Bank, for the period up to 6 months. The decision on application of measures for financial stabilization is made by National Bank in coordination with the Government. Measures for financial stabilization can be applied to all or separate categories of persons, and also to all or separate types of activities / to financial foreign currency transactions and/or in national currency. Conditions and procedure for application of measures for financial stabilization are established by National Bank of Moldova.".

2. Part (articles 10 after words of "the banks which obtained licenses of National Bank" to add 1) with the words "and branches of foreign licensed banks".

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