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Republic of Moldova.

Author: International Monetary Fund Monetary and Capital Markets Department
Publisher: Washington, D.C. : International Monetary Fund, 2016.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Summary:
Moldova has a modern interbank payment system that lies at the heart of its financial markets. The Automated Interbank Payment System (AIPS) settled on average MDL 2 billion (US$ 214 million) per day, or 2.7 percent of GDP in 2013. It has real-time gross settlement features that help reduce systemic risks, settles large-value and time-critical payments, and is interdependent with two securities settlement systems.  Read more...
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Genre/Form: Electronic books
Additional Physical Format: Print version:
Department, International Monetary Fund. Monetary and Capital Markets.
Republic of Moldova: Financial Sector Assessment Program-Bank Crisis Resolution-Technical Note.
Washington, D.C. : International Monetary Fund, ©2016
Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: International Monetary Fund Monetary and Capital Markets Department
ISBN: 9781513509211 1513509217
OCLC Number: 988866059
Description: 1 online resource (30 pages)
Contents: Cover; CONTENTS; GLOSSARY; EXECUTIVE SUMMARY; BANKING SYSTEM AND STRESS TEST COVERAGE; MACROECONOMIC SCENARIOS; SOLVENCY STRESS TEST; A. Credit Risk; B. Market Risk; C. Risks Associated to Equity Investments; D. Concentration Risk; E. Interbank Contagion Risk; LIQUIDITY STRESS TEST; A. Overall Liquidity; B. Foreign Exchange Liquidity; C. Liquidity Link to Solvency; CONCLUSIONS; BOX; 1. Computation of Potential Losses due to Issuer Default Risk; FIGURES; 1. Evolution of the Level of Real Gross Domestic Product in the Stress Test Scenarios 2. Top-down (lhs) and Bottom-up (rhs) Estimated Potential LossesTABLES; 1. Balance Sheet Summary of the Banking Sector in Moldova; 2. Results from the Estimation of Equation [2]; 3. Stress Test Results on Name Concentration Risk; 4. Liquidity Stress Test Assumptions on Haircuts and Run-off Rates; 5. Assumptions on Haircuts and Run-off Rates for the Liquidity Coverage Ratio in Foreign Exchange; 6. Macroeconomic Projections in the Stress Test Scenarios; 7. Summary of the Solvency Stress Test Results; 8. Implied Nonperforming Loans under the Different Stress Test Scenarios 9. Summary of the Liquidity Stress Test ResultsAPPENDICES; I. Stress Test Matrix for Solvency Risk; II. Stress Test Matrix for Liquidity Risk; III. Preconditions for Conducting Multi-period Stress Tests

Abstract:

Moldova has a modern interbank payment system that lies at the heart of its financial markets. The Automated Interbank Payment System (AIPS) settled on average MDL 2 billion (US$ 214 million) per day, or 2.7 percent of GDP in 2013. It has real-time gross settlement features that help reduce systemic risks, settles large-value and time-critical payments, and is interdependent with two securities settlement systems. This includes the central bank's Book-Entry System (BES) that handles government securities and central bank certificate settlements, and the National Securities Depository (NSD) that settles private sector securities trades. It largely met international standards in the FSAP Update of 2008. A self-assessment of the BES against the CPSS-IOSCO Principles for Financial Market Infrastructures (PFMIs) has been completed in December 2013 by the NBM. The preliminary results suggest full observance with 11 principles and broad observance with three principles (Principle 1 on Legal Basis, Principle 22 on Communication Procedures and Standards). They are currently under the peer review process by the National Commission for Financial Markets (NCFM).

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