New Law on Bank Recovery and Resolution Published in Official Journal

New Law on Bank Recovery and Resolution Published in Official Journal

Business

On January 30, the Official Journal published the promulgation decree and a law amending certain normative acts related to bank recovery and resolution, CE Report quotes MOLDPRES

Developed by the National Bank of Moldova with input from World Bank experts and consultation with the IMF, the law introduces an internal recapitalization instrument to enhance banks' loss absorption and recapitalization capacity.

It also defines financing conditions for resolution tools from the Resolution Fund and the Bank Deposit Insurance Fund.

Within 24 months, the National Bank of Moldova, the National Commission for Financial Markets, and the Competition Council will adopt the necessary regulations for implementation.

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