The Executive Board of the National Bank of Moldova approved amendments to the instruction on the presentation of COREP reports for supervision purposes and to the regulations concerning the open currency position in a move to enhance concentration risk and currency position surveillance.

The decisions were taken in a move to adjust the reporting on large disposals and the open currency positon to the requirements set down in the regulations and to the best regulatory practices of international financial-banking markets, IPN reports, quoting a press release of the central bank.

The given changes will contribute to the uniform and opportune reporting by banks of the information concerning bank disposals to an affiliated client, which will improve concentration risk surveillance at the bank.

The changes concerning the open currency position are in line with the international reporting standards on financial instruments and depreciation provisions on the recording of expected losses and those stipulated in some of the National Bank’s regulations. The Bank expects the amendments will enable o maintain and more prudentially manage the open currency position .

The Common Reporting Framework (COREP) refers to the standardized regulatory reporting on capital requirements and prudential regulatory information, credit risk, but also market risk, operational risk, own funds of banks and others as to determine the risk exposure level.