The National Bank of Moldova (NBM) has advised licensed banks on the amounts, installments, deadlines and form of payment of their contributions to the Bank Resolution Fund.

The amounts are to be paid by the end of 2023. For the entire banking system, the total amount is 117.8 million lei.

The factors used in calculating the 2023 contributions included the national target of 3% for guaranteed deposits to be achieved by the end of 20204, the adjustment coefficient for the increase in deposits, as well as the adjustment multipliers for the risk specific to each bank. At the same time, the target based on the amount of guaranteed deposits as of June 30 represents 507.8 million lei and is to be reevaluated annually.

The Bank Resolution Fund was established in 2020 to ensure the effective application of resolution instruments by the National Bank of Moldova. The resources are used according to the objectives of the resolution and the principles set out in the Bank Recovery and Resolution Law.

The Bank Resolution Fund contributes to strengthening the banking sector and its credibility, in support of depositors’ interests. On June 30, the Fund had 264.5 million lei.