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Moldovan National Bank Sets Priorities for Risk Management

Chisinau, Moldova - In a move to ensure the stability of the banking system and prevent excessive risk-taking, the National Bank of Moldova has set priorities for risk management in 2023.

Focus Areas

The bank’s efforts will focus on:

• Identifying and managing credit risks
• Maintaining adequate liquid assets
• Conducting stress tests
• Analyzing vulnerabilities in payment systems and services
• Preventing money laundering and terrorist financing
• Efficiently managing technology-related risks

To prevent excessive exposure to risks associated with lending, the National Bank has adapted requirements for banks’ risk management policies. Additionally, it has introduced new rules regarding the way banks must manage credit repayment schedules, ensuring that borrowers are not overburdened by debt.

Priority Goals

The bank’s priority is to maintain a stable financial system and ensure the efficient allocation of resources in the economy. As stated by [insert name], Governor of the National Bank of Moldova: “Creditors play a crucial role in the development of commercial societies and the national economy.”

Monitoring and Enforcement

The National Bank will closely monitor banks’ risk management practices, ensuring that they are in line with international standards and best practices. The Governor added: “The banking system is a critical component of the financial sector, and we must ensure its stability to maintain public trust.”

Ongoing Commitment

The National Bank’s efforts to strengthen risk management practices come as part of its ongoing commitment to promoting a stable and transparent financial environment in Moldova.

Sources

1. National Bank of Moldova. Regulation on Techniques for Reducing Credit Risk Used by Banks No. 112 of May 24, 2018.
2. National Bank of Moldova. Financial Situation of the Banking Sector for 2022.
3. Turluiuc, V., Cocriș, V. Money and Credit. Iași: Editura Univ. “Al. I. Cuza”, 2011.
4. Cojug, V., Cinciuc, L. Risk Management in Banking. Chișinău: Editura ASEM, 2008.

Contact

Larisa Mistrean, dr., conf. univ., Academia de Studii Economice din Moldova, Chisinau, str. Bănulescu-Bodoni 61, www.ase.md, e-mail: mistrean_larisa@ase.md.