The National Bank of Moldova has set banking supervision priorities for 2024 and will continue to reasonably monitor the activities of banks in order to maintain their sustainability and stability.
As noted in the message of the National Bank, the banking system of Moldova completed 2023 with good financial results. Last year, the main focus of the National Bank of Moldova in the field of banking supervision was on effectively managing the consequences of the war in Ukraine, as well as inflation. Despite negative external factors, the prudential indicators of licensed banks remained within regulated limits, reflecting the resilience of the banking sector as a result of reforms implemented in recent years. Also last year, there was a decrease in the intensity of calls to banks, but they did not disappear completely. In the context of the presence of significant risks of an individual and macroeconomic nature, the National Bank of Moldova has established for 2024 the most important directions in the process of banking supervision, both within the framework of supervision from the office and within the framework of on-site control. Thus, in 2024, the NBM banking supervision process will focus primarily on the following areas: I. Corporate governance; II. Credit risk; III. Interest rate risk associated with activities outside the trading portfolio; IV. Analysis, assessment and elimination of vulnerabilities associated with payment and settlement systems and payment services; V. Preventing and combating money laundering and terrorist financing; VI. Effectively identify and manage risks associated with information and communication technologies. In this regard, in 2024, the National Bank of Moldova will continue to evaluate the provision of adequate risk control and the existence of an independent and effective decision-making process. The NBM will also continue activities to identify and assess new risks associated with the development of financial technologies and jurisdictions that are considered vulnerable to money laundering activities or evasion of international sanctions. As part of ongoing supervision, the dynamics of loans issued to individuals will also be monitored, taking into account their growth. The National Bank’s supervisory efforts will also focus on actions taken in the context of trends in the digitalization of payment services and the modernization of the automated system of interbank settlements, as well as the introduction of instant payments in the near future. At the same time, the NBM will provide supervision in the field of ICT in order to increase the stability of banks and ensure adequate protection against cyber threats and attacks. The document with the banking supervision priorities of the NBM for 2024 is published on the NBM website and is available here https://www.bnm.md/ro/content/psb // 09.01.2024 — InfoMarket
