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08.09.2015

Instruction on FINREP separate financial statements, applicable to banks, approved by the DCA of the NBM no.292 of December 15, 2011

Published in the Official Monitor of the Republic of Moldova no. 227-232 of December 23, 2011, Art.2104

Council of Administration
of the National Bank of Moldova

 

Decision no.292
of December 15, 2011

on approving the Instruction on FINREP separate financial statements, applicable to banks

Pursuant to Article 5 letter d), Article 11, Article 44 letter a) of the Law no.548-XIII on the National Bank of Moldova of 21 July 1995 (Official Monitor of the Republic of Moldova, 1995, no.56-57, Article 624), with further amendments and completions, Articles 33, 37 and 40 of the Law on Financial Institutions no.550-XIII of 21 July 1995 (republished in the Official Monitor of the Republic of Moldova, 2011, no.78-81, Article 199), with further amendments and completions, the Council of Administration of the National Bank of Moldova

DECIDED:

1. To approve the Instruction on FINREP separate financial statements, applicable to banks (see attached).

2. The bank shall submit simultaneously at first reporting under the Instruction referred to in item 1, depending on the periodicity, the respective reports for the situation of 1 January 2012.

3. In the first six months of 2012, the reports shall be submitted no later than the 15th of the month following the reporting period.

4. This decision shall enter into force on 01 January 2012.

Annex no.1
to the Decision of the Council
of Administration of the National Bank
of Moldova no. 292 of December 15, 2012

INSTRUCTION
on FINREP separate financial statements, applicable to banks

Amended by:

DCA of the NBM, no.3 of 05.01.2012, Official Monitor of the Republic of Moldova of 13.01.2012, art.50
DCA of the NBM, no.189 of 23.08.2012, Official Monitor of the Republic of Moldova no.185 of 31.08.2012, art.1097
DCA of the NBM, no.310 of 27.12.2012, Official Monitor of the Republic of Moldova no.6-9 of 11.01.2013, art.4324-4327

DCA of the NBM, no.133 of 21.05.2015, Official Monitor of the Republic of Moldova no.131-138 of 29.05.2015, Article 963

1. This Instruction shall be applied to banks licensed by the National Bank of Moldova (hereinafter banks).

2. Banks are required to prepare FINREP separate financial statements (hereinafter- reports), in accordance with the requirements of this Instruction.

3. The reports shall reflect the bank's operations and financial statements, including those of separate subdivisions, at the end of the operational day of the reporting period (month, quarter, semester or year, as appropriate).

4. Terms used in this Instruction are defined only for its purpose.

5. The amounts reflected in the separate statements shall be in national currency - Moldovan leu.

6. The financial means in foreign currency shall be recalculated in Moldovan Lei at the official rate of Moldovan Leu against foreign currencies set by the National Bank of Moldova on the reporting date.

7. As a general rule, the indicators shall be reflected as positive values, except cases when profit/loss is stated (which is supposed to be calculated by applying calculation formula, in particular time differences); the balance is opposed to the ordinary balance for the amounts necessary to be reported (credit balance for the accounts of Assets and Expenses; debit balance for the accounts of Liabilities, Capital and Reserves, Income), except the cases of reporting the amounts related to contra accounts.
[Item 7 amended by the Decision of the CA of the NBM no.310 of 27.12.2012, in force on 11.01.2013]

8. Application of relevant International Financial Reporting Standards (IFRS) (such as, but not limited to,determination of fair value of financial assets / non-financial assets, asset impairment, etc.) shall be performed and reported at least in the reports submitted for the situation of 30 June and 31 December. Where necessary, banks may apply more frequently relevant IFRSs.

9. In order to prepare the reports, banks shall adjust their way of record-keeping as to be able to meet these reporting requirements.

10. Before being submitted to the National Bank of Moldova, data from separate statements prepared at the reporting date shall be compared with data from previous statements. If essential inconsistencies or discrepancies were found, an explanatory note on paper shall be submitted to the National Bank of Moldova together with the separate report.

11. Banks shall consider the results of controls carried out by the NBM inspectors when preparing the reports, which have to be submitted at the next reporting date after the examination of inspection reports at the meetings of the Council of Administration of the National Bank of Moldova. Along with the submitted reports, banks shall provide detailed explanations (on paper) on the removal of the shortcomings identified during the inspections.

12. The separate statements shall be submitted in accordance with the Instruction on the submission of reports by banks in electronic form to the National Bank of Moldova, approved by the Decision of the Council of Administration of the National Bank of Moldova no.132 of 17 July 2008 (Official Monitor of the Republic of Moldova no.157-159/447 of 19 August 2008), with further amendments and completions.

13. Reports shall be submitted no later than the 10th of the month following the reporting period.

14. In the procedure for preparing the reports, in case of contra accounts, their total absolute or partial value shall be considered.
[Item 14 amended by the Decision of the CA of the NBM no.189 of 23.08.2012, in force on 01.11.2012]

15. After the examination of annual financial reports by the General Meeting of Shareholder, banks shall submit to the National Bank of Moldova the separate statement in electronic format (for the situation of 31 December), but no later than 31 April, amended as a result of audit. A detailed explanatory note on the adjustments made shall be submitted on paper along with the reports sent in electronic form.
[Item 15 amended by the Decision of the CA of the NBM no.189 of 23.08.2012, in force on 01.11.2012]

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