The National Bank of Moldova (NBM) set the banks' contributions to the Resolution Fund for 2024.
In particular, the NBM informed the licensed banks what will be the amounts, tranches, deadlines and form of payment of contributions to the Banking Resolution Fund, to be paid by the end of 2024. They were calculated in accordance with the provisions of the Regulation on the mode of calculation and payment of contributions to the Banking Resolution Fund, approved by the Decision of the Executive Board of the National Bank of Moldova as of March 20, 2020. Thus, the amount of contributions for 2024 for the entire banking sector amounted to 211.5 million lei (a year earlier - 117.8 million lei). The calculation is based on the following components: the target level of 3% of the amount of guaranteed deposits; the adjustment coefficient for the increase in the volume of deposits; and the multipliers of the risk adjustment inherent in each bank. It should be noted that banks pay annual contributions to the Resolution Fund starting from 2020, while the target level set by the Law on banks' rehabilitation and banking resolution shall be reached no later than December 31, 2024. Thus, the payment by banks of the contributions set for the next year will allow reaching the target level, which, based on the amount of guaranteed deposits as of 30.06.2023, amounts to 573.4 million lei. The target level is revised annually by the National Bank, depending on the amount of guaranteed deposits of the entire banking system. The Banking Resolution Fund was established in 2020, with the purpose of ensuring by the National Bank the effective application of the instruments and powers of resolution, whose resources are used in accordance with the objectives and principles of resolution provided for in the Law on Banks' Recovery and Bank Resolution. As of June 30, 2023, the resources of the fund amounted to 435.8 million lei. The Banking Resolution Fund plays an important role in strengthening the integrity and stability of the banking sector and ensuring the protection and confidence of depositors. // 16.10.2023 - InfoMarket.
