The bank deposit guarantee ceiling will be 100,000 lei and will rise to 200,000 on January 1, 2025, as it is provided in a bill that was approved by the Parliament’s commission on foreign policy and European integration, IPN reports.
The deposits in foreign currencies will be guaranteed by compensating their equivalent in Moldovan lei at the official exchange rate set by the National Bank of Moldova when the deposits become unavailable. Particular categories of deposits will be covered in the amount of 200% of the coverage level for a period of three months of the moment the sum is credited or of the date the given deposits can be transferred legally. Among these categories are private individuals’ deposits deriving from real estate transactions involving housing, amounts deposited as compensation following divorce, retirement, dismissal, disability, death etc.
The bill provides that the target level of the Bank Deposit Insurance Fund is 4% of all the guaranteed deposits registered in the banking system. The Fund’s Board will review the target level at least once in three years.
The payment initiation period is to be decreased from 12 days to seven days. Also, loans could be raised both from the National Bank of Moldova and from the Ministry of Finance, in accordance with recommendations put forward by international experts within programs of technical assistance offered to Moldova.
