NBM JOINS MEMORANDUM OF COOPERATION WITH EBA

The European Banking Authority welcomed the fact that the National Bank of Moldova signed the Memorandum of Cooperation EBA with bank supervision structures in several South-Eastern European countries.

According to the NBM, Moldova is the first Eastern Partnership country, which joined the document. This became possible due to positive assessment of the confidentiality regime, applied in Moldova in the field of bank supervision in 2018.

"The joining of the memorandum is an important step of the NBM in the context of fulfilling the liabilities, adopted by Moldova within the EU-Moldova Association Agreement, as well as the promotion of reforms in the banking sector for strengthening normative and supervisory basis in accordance with international standards", said NBM President Octavian Armasu.

According to him, the joining of the memorandum will allow establishing new frames of cooperation and exchange of information between the NBM and the EBA in the field of regulation and the banking sector.

The memorandum is a non-compulsory agreement, which establishes frameworks of cooperation and exchange of information, designed for strengthening the bank regulation and supervision in banks, functioning in the EU and in Southeastern Europe.

The European Banking Authority is an independent structure of the EU, founded in 2011 for ensuring efficient and consistent basis of regulating and prudential supervision in the EU banking sector.