Moldovan parliament expands central bank’s supervisory powers

National Bank of Moldova
National Bank of Moldova

Moldova’s parliament has passed a law expanding the supervisory powers of the country’s central bank, the National Bank of Moldova said in a statement dated October 6.

The law will come into effect on January 1, 2018. It was drafted with the advice of experts from the Netherlands Bank and the National Bank of Romania, the NBM said in the statement. The NBM said the law would extend the supervision process applied to banks, while supervisory penalties on banks would be “increased and diversified

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