The European Banking Authority (EBA) is ready to cooperate more closely with the National Bank of Moldova (NBM) in order to help it advance on the path of European integration.
This was stated by its head José Manuel Campa at a meeting with a delegation of the National Bank of Moldova headed by its Governor Anca Dragu. During the discussions with the head of the European Banking Autority (EBA), the current evolution in the Moldovan banking sector was presented, as well as the NBM's regulatory and banking supervision priorities in terms of the EU accession process. Anca Dragu praised the cooperation between NBM and EBA, expressing confidence that this relationship will be enhanced, given the important role of EBA in the regulation and supervision of the financial system in the EU, as well as EBA's contribution to maintaining financial stability in the EU, as well as ensuring integrity, efficiency and good governance in the banking sector. "At the NBM, we have the same objectives regarding the improvement of the banking and non-banking sector in Moldova," the NBM Governor emphasized. In this context, Anca Dragu said that the National Bank of Moldova is interested in participating in projects meant for the EU accession candidate countries, in order for the institution to strengthen its capacities as a competent authority in the financial sector. Also, the NBM is determined to continue adjusting the national normative-legal and supervisory framework to the EU standards. The head of the National Bank of Moldova specified that Moldova's financial sector has considerably strengthened, especially due to the European integration process. In this context, the officials mentioned the results of the EU-funded Twinning project on the institutional capacity-building in the banking regulation and supervision. This assistance is provided by the central banks and other authorities from Romania, the Netherlands and Lithuania. At the same time, Anca Dragu said that the development of cooperation between the NBM and the EU banking supervision authorities became possible after the confidentiality regime in the banking supervision in Moldova was positively assessed by the EBA. The NBM Governor also said that the National Bank of Moldova is interested in obtaining from the EU the confirmation of the results of the reforms it promotes in the banking sector. To this end, the NBM should initiate an assessment of the equivalence of the national banking legislation to the EU legislation, in line with the EBA methodology. "As the equivalence of our banking legislation to the EU legislation is very important to move forward in the EU accession process, we are particularly interested in a close dialog with the EBA to assess this equivalence," Anca Dragu added. During the discussions, EBA President Jose Manuel Campa expressed the European Banking Authority's willingness to cooperate more closely with the NBM in order to help it advance on the European integration path. The agenda of the NBM delegation also included meetings with other EBA representatives, during which there were discussed topics of interest related to the regulation and supervision of the financial sector, as well as prospective relations. The delegation of the National Bank of Moldova included members of the Executive Committee of the NBM, as well as directors of the Regulatory and Authorization, Banking Supervision, International Relations and European Integration departments. The European Banking Authority (EBA) is an independent body of the European Union, established in 2011 to ensure an effective and consistent regulatory framework and prudential supervision across the EU banking sector. It is part of the European System of Financial Supervision (ESFS) and its main objectives are to maintain financial stability in the EU and to ensure the integrity, efficiency and proper functioning of the banking sector. // 13.02.2024 – InfoMarket
