The National Bank of Moldova announced that the implementation of the Credit Risk Register project has been completed. Now the National Bank will be able to concentrate detailed, reliable and prompt information related to credit risk to which licensed banks are exposed, IPN reports
The Credit Risk Register accumulates detailed information from the licensed banks of the Republic of Moldova about the totality of loans granted. This information is reported to the National Bank of Moldova, in accordance with the regulations that came into force on July 1, 2016.
In a press release, the National Bank says the availability of the complex operational data allows the central bank to identify the respective risk not only by sector, but also by group of banks or at each bank. It also contributes to early identification of portfolio credit risks, ensuring an analytical and interpretative investigation process when the National Bank of Moldova takes remedial action.
The implementation of the Credit Risk Register project was initiated on June 15, 2015 in the context of the meeting of international standards for strengthening the financial system with appropriate risk management.
