The National Bank of Moldova (NBM) comes with clarifications in connection with a series of articles that appeared in the local press regarding the decision of the European Central Bank (ECB) to discontinue production and issuance of the €500 banknote by the end of this year.

On the days 28, 29 and 30 August 2018, declared public holidays, the National Bank of Moldova will ensure the economic activity continuity of the individuals and legal entities, undertaking the necessary measures to carry out transactions in normal regime through the Automatic Interbank Payment System.

The decision was taken after it was found that the bank is able to ensure transparency of its shareholders, following the acquisition of 72.19 percent of the bank’s share capital by the VB Investment Holding B.V., a company owned by Banca Transilvania from Romania, in partnership with the European Bank for Reconstruction and Development (EBRD). 

The National Bank of Moldova (NBM) announces the pre-selection of graphic design specialists to execute graphic designs of jubilee and commemorative coins and banknotes to be issued by the central bank.

In July 2018, the monetary base decreased by MDL 609.6 million (1.6 percent) compared to the previous month, totalling MDL 38,187.3 million.

In July 2018, new loans extended by banks totalled MDL 2,480.8 million, recording an increase of 19.5%, compared to July 2017.

In July 2018, the annual inflation rate recorded 3.0%, decreasing by 0.2 pp. compared to the previous month. In accordance with the previous forecast, the inflation rate records, for the third consecutive month, a level situated below the lower limit of the inflation rate interval of ± 1.5 pp. from the 5.0% target.

The decision was taken following an on-site target inspection of the provider’s activity in the field of electronic money issuance, taking into account the severity and the repeated nature of violations committed by the provider.

In the second quarter of 2018, the total amount of money transfers from abroad made in favour of individuals of the Republic of Moldova amounted to USD 342.59 million.

Over the next three quarters, the annual inflation rate will follow a downward trajectory and fall below the lower limit of the inflation variability interval, eventually reaching a level of 1.9% in the 4Q 2018. Later, the trajectory will reverse, with inflation returning within its variability interval in the 2Q 2019 and recording 6.5% in the 3Q 2019.

The Executive Board of the National Bank of Moldova (NBM) set rates to be applied on the new macro-prudential instruments, adopted by the NBM pursuant to the Law no. 202 of 06.10.2017 on banks’ activity and the Regulation on bank capital buffers approved by the Decision of the Executive Board of the NBM no.110 of 24.05.2018.

The National Bank of Moldova has continued promoting reforms to strengthen the banking sector and improve the banking regulatory and supervisory framework.

The Central Securities Depository (CSD) began its operation on 31 July 2018. The new institution will be responsible for the registration, bookkeeping and settlement of securities issued by legal entities of the Republic of Moldova.

The fine amounting to 1% of the shareholders' holding in the bank's share capital will be paid to the state budget. The bank operates in normal regime and provides all services, including those related to deposits, lending and settlements operations.

The decision was taken based on the updated macroeconomic analysis as well as the assumptions made in the new medium-term inflation forecast round. Disinflationary conditions that are expected to persist through the end of this year have determined keeping the base rate at the current level.

In June 2018, the total amount of net money transfers from abroad made in favour of individuals via licensed banks of the Republic of Moldova amounted to US$ 117.48 million (increasing by 8.5% as against June 2017).

In June 2018, the monetary base increased by MDL 234.3 million (0.6 percent) compared to the previous month, amounting to MDL 38,796.9 million.

In June 2018, new loans extended by banks totalled MDL 2,604.1 million, recording an increase of 12.2%, compared to June 2017.

The BC “Moldindconbank” S.A. operates in normal regime and provides the full range of services, including those related to deposits, lending and settlement operations.