Regulatory Alerts2014-09-25
Regulation on open market operations of the National Bank of Moldova
The Council of Administration of the National Bank of Moldova issued Decision No 188 to approve the Regulation governing open market operations for liquidity management and monetary policy signaling. The document defines eligible participants, primarily licensed banks, and outlines procedures for main, fine-tuning, and structural operations using instruments such as repo transactions, outright sales, and collateralized loans. It establishes strict criteria for eligible collateral assets, including state securities and NBM Certificates, while detailing settlement mechanisms, margin call triggers, and valuation haircuts to mitigate risk.
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