Regulatory Alerts2017-12-27
Regulation on the Required Reserves Regime (Decision No. 355)
The Executive Board of the National Bank of Moldova approved Decision No. 355 to establish a unified regulatory framework governing how licensed banks and foreign branches maintain required reserves in Moldovan Lei, US dollars, and euros. The regulation defines a calculation base based on the average daily balance of Class II liabilities, mandates reserve holdings in domestic Loro accounts for Lei and correspondent Nostro accounts abroad for foreign currencies, and sets distinct observance and maintenance periods. Repealing the 2004 framework, it introduces standardized zero-percent reserve norms for long-term deposits, specifies SWIFT-based deficit and surplus transfers, and takes effect on 16 February 2018 with tailored transition rules for early-2018 attracted funds.