{"id":260433,"date":"2009-06-30T11:47:53","date_gmt":"2009-06-30T11:47:53","guid":{"rendered":"http:\/\/new.moldova.org\/2009\/06\/30\/moldova-legislative-amendments-in-banking-sector-202057-eng\/"},"modified":"2009-06-30T11:47:53","modified_gmt":"2009-06-30T11:47:53","slug":"moldova-legislative-amendments-in-banking-sector-202057-eng","status":"publish","type":"post","link":"https:\/\/www.moldova.org\/en\/moldova-legislative-amendments-in-banking-sector-202057-eng\/","title":{"rendered":"Moldova: Legislative amendments in banking sector"},"content":{"rendered":"Reading Time: <\/span> < 1<\/span> minute<\/span><\/span>

Before being dissolved, the Parliament has approved amendments to the Law on Financial Institutions and law on guaranteeing of deposits of individuals. The amendments are likely welcome, as they would give fuel to thoughts of majority of domestic bank players to be very cautious when they contract credits or get involved in risky investment projects which endanger the assets of banks (as well as liabilities made of people’s savings implicitly), decisions which are often made consciously without resorting to an ample research on market or depending on the case.<\/p>\n

An interesting approach is the introduction of a new chapter, "Chapter VI (1). Forced liquidation of the bank." However, it seems that this chapter contradicts the organic regulations of the law on insolvency. Even more, Article 38(1) of this chapter stipulates the nomination of a liquidator on behalf of an individual in order to apply all legal measures to liquidate the institution and administrate its assets. It seems at a first glance that this is a tool capable to eliminate any corporate or clan interests, but on the other hand supposing the way they will be interpreted is very hard and it is uncertain that an individual will not play the group game or protect some corporate interests, though the new amendments stipulate express the incompatibility of these actions with the tasks of the liquidator.<\/p>\n

However, the emergent modification of the law on financial institutions and law on guaranteeing of deposits of individuals, as well as the increased state intervention power is a clear signal that the situation is worsening in general, not only in banking sector.
\n <\/p>\n","protected":false},"excerpt":{"rendered":"

Reading Time: <\/span> < 1<\/span> minute<\/span><\/span>Before being dissolved, the Parliament has approved amendments to the Law on Financial Institutions and law on guaranteeing of deposits of individuals.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-260433","post","type-post","status-publish","format-standard","hentry","category-economy"],"content_social_share":"Reading Time: <\/span> < 1<\/span> minute<\/span><\/span>

Before being dissolved, the Parliament has approved amendments to the Law on Financial Institutions and law on guaranteeing of deposits of individuals. The amendments are likely welcome, as they would give fuel to thoughts of majority of domestic bank players to be very cautious when they contract credits or get involved in risky investment projects which endanger the assets of banks (as well as liabilities made of people’s savings implicitly), decisions which are often made consciously without resorting to an ample research on market or depending on the case.<\/p>\n

An interesting approach is the introduction of a new chapter, "Chapter VI (1). Forced liquidation of the bank." However, it seems that this chapter contradicts the organic regulations of the law on insolvency. Even more, Article 38(1) of this chapter stipulates the nomination of a liquidator on behalf of an individual in order to apply all legal measures to liquidate the institution and administrate its assets. It seems at a first glance that this is a tool capable to eliminate any corporate or clan interests, but on the other hand supposing the way they will be interpreted is very hard and it is uncertain that an individual will not play the group game or protect some corporate interests, though the new amendments stipulate express the incompatibility of these actions with the tasks of the liquidator.<\/p>\n

However, the emergent modification of the law on financial institutions and law on guaranteeing of deposits of individuals, as well as the increased state intervention power is a clear signal that the situation is worsening in general, not only in banking sector.
\n <\/p>\n

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