The Executive Board of the National Bank of Moldova (NBM) issued a decision by which it allows the licensed banks to flexibly manage the payment obligations of private individuals in difficulty of paying for the raised loans given the declared state of emergency. The decision facilitates the provision by licensed banks of concessions on the payment of interest on loans taken out by private individuals until May 31, 2020.
In a press release, the NBM says these measures could be applied selectively and individually by the banks, in accordance with the own capacities, regulations and contract clauses. At the same time, the central bank’s decision determines the necessity of prudently managing all the risks so as to maintain the stability of the banking sector and to protect the depositors.
The modification, until July 31, 2020, of the payment periods and payments on loans will not result in the classification of these loans into a harsher category than the one existing when the given decision was adopted.
The decision does not refer to new loans released in the period. The private individuals who can further pay interest on the loans, especially through the Internet and other distance payment methods, are encouraged to do it.
According to the NBM, the licensed banks of Moldova have sufficient liquidity and capital and are solid and stable.
