NBM considers aberrant the opinions regarding the banks’ incapacity to pay the deposits of the citizens

The National Bank of Moldova (BNM) denies the information spread in press regarding the incapacity of the banks to pay the citizens’ bank deposits and even the default of the Republic of Moldova. A NBM press release, quoted by Info-Prim Neo ensures the citizens there area no premises for a currency crisis on the interior market, inclusively in the context of the wine banns imposed by Russia. According to the quoted source, the banks portfolio of credits given for the wine area and for the sells of wine products has a relatively small share in assets – 8% and the total credit portfolio 14%. So, the further difficulties when paying back the credits by the wine producing agents cannot influence considerably the available money reserves in banks. More, NBM states that at present, the banks hold a significant excess of money which on April 30, 2006, amounted to 2800 million lei and overcomes 2-fold the total volume of offered credits in the named area. The quoted source underlines that in present conditions of potential financial stability supported by the existent money reserves, the banks offer, if needed, financial assistance to the enterprises of the mentioned-above areas. In this way there is no real danger for the financial situation and stability of the banking system. NBM qualifies as “aberrant” the opinions regarding the eventual default, specifying that these opinions can be also refuted by the fact that the official reserves of the state amount to 648 million USD, exceeding 4-fold the volume of reserves comparing to the regional crisis in 1998.

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