The National Bank of Moldova (NBM) set banks’ contributions to the resolution fund for 2021. The contributions of the whole banking system were calculated at 131.3 million lei, IPN reports.

The NBM notes that it informed the licensed banks of the tranches, time limits and form of payment of contributions to the resolution fund.

The contributions were determined based on the target level of 3% of the volume of guaranteed deposits, which is to be achieved by the end of 2024, the coefficient of adjustment to the rise in the volume of deposits and the multiplier for adjustment to the specific risk of the bank. The target level that derives from the volume of guaranteed deposits was 475.8 million lei on June 30, 2020 and is to be reassessed annually.

According to the NBM, the constitution of the resolution fund contributes to strengthening the banking sector and its credibility, in support of depositors’ interests.