{"id":446591,"date":"2019-02-04T21:53:00","date_gmt":"2019-02-04T21:53:00","guid":{"rendered":"http:\/\/www.moldova.org\/en\/?p=446591"},"modified":"2019-02-04T21:53:00","modified_gmt":"2019-02-04T21:53:00","slug":"national-bank-moldova-first-eastern-partnership-bank-joining-memorandum-cooperation-european-banking-authority","status":"publish","type":"post","link":"https:\/\/www.moldova.org\/en\/national-bank-moldova-first-eastern-partnership-bank-joining-memorandum-cooperation-european-banking-authority\/","title":{"rendered":"National Bank of Moldova &#8211; the first Eastern Partnership bank joining the Memorandum of Cooperation with the European Banking Authority"},"content":{"rendered":"<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> 2<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span><p>The National Bank of Moldova (NBM) has joined the Memorandum of Understanding concluded between the European Banking Authority (EBA) and banking supervisors in some countries of Southeastern Europe.<\/p>\n<p>Thus, the Republic of Moldova is the first country of the Eastern Partnership that has joined this memorandum.<\/p>\n<p>With the accession to the Memorandum, a framework for cooperation and exchange of information between NBM and EBA in the field of banking regulation and supervision will be established.<\/p>\n<p>NBM will be invited to participate in the ABE forums for Southeast European Banking Supervisors, will regularly receive information from EBA on <strong>the development of the European Union&#8217;s single supervisory framework on the convergence of supervisory practices, the functioning of colleges supervisors in the European Union<\/strong> and o<strong>n the risks and vulnerabilities of the European Union banking system.<\/strong><\/p>\n<p>The EBA will also provide NBM access to its regular training activities.<\/p>\n<p>At the same time, the NBM will provide EBA, periodically or ad hoc, with information on the relevant developments of the banking system in the Republic of Moldova that will be used for risk analysis purposes.<\/p>\n<blockquote><p>&#8220;The accession to the EBA Memorandum is an important step of the NBM in the context of fulfilling the commitments of the Moldova-EU Association Agreement and the promotion of the reforms in the banking sector in order to strengthen the regulatory and supervisory framework in line with international standards&#8221;, underlines NBM Governor, Octavian Armasu.<\/p><\/blockquote>\n<p>The European Banking Authority (EBA) is an independent European Union authority created in 2011 with a view to ensuring an effective and consistent regulatory and prudential supervisory framework throughout the European Union banking sector.<\/p>\n<p>EBA is part of the European System of Financial Supervisors (ESFS) and its main objectives are to maintain financial stability in the European Union and ensure the integrity, efficiency and smooth operation of the banking sector.<\/p>\n","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> 2<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span>The National Bank of Moldova (NBM) has joined the Memorandum of Understanding concluded between the European Banking Authority (EBA) and banking supervisors in some countries of Southeastern Europe. Thus, the Republic of Moldova is the first country of the Eastern Partnership that has joined this memorandum. With the accession to the Memorandum, a framework for [&hellip;]<\/p>\n","protected":false},"author":23,"featured_media":446592,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5,8],"tags":[35],"class_list":["post-446591","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-world-news","tag-important"],"content_social_share":"<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> 2<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span><p>The National Bank of Moldova (NBM) has joined the Memorandum of Understanding concluded between the European Banking Authority (EBA) and banking supervisors in some countries of Southeastern Europe.<\/p>\n<p>Thus, the Republic of Moldova is the first country of the Eastern Partnership that has joined this memorandum.<\/p>\n<p>With the accession to the Memorandum, a framework for cooperation and exchange of information between NBM and EBA in the field of banking regulation and supervision will be established.<\/p>\n<p>NBM will be invited to participate in the ABE forums for Southeast European Banking Supervisors, will regularly receive information from EBA on <strong>the development of the European Union&#8217;s single supervisory framework on the convergence of supervisory practices, the functioning of colleges supervisors in the European Union<\/strong> and o<strong>n the risks and vulnerabilities of the European Union banking system.<\/strong><\/p>\n<p>The EBA will also provide NBM access to its regular training activities.<\/p>\n<p>At the same time, the NBM will provide EBA, periodically or ad hoc, with information on the relevant developments of the banking system in the Republic of Moldova that will be used for risk analysis purposes.<\/p>\n<blockquote><p>&#8220;The accession to the EBA Memorandum is an important step of the NBM in the context of fulfilling the commitments of the Moldova-EU Association Agreement and the promotion of the reforms in the banking sector in order to strengthen the regulatory and supervisory framework in line with international standards&#8221;, underlines NBM Governor, Octavian Armasu.<\/p><\/blockquote>\n<p>The European Banking Authority (EBA) is an independent European Union authority created in 2011 with a view to ensuring an effective and consistent regulatory and prudential supervisory framework throughout the European Union banking sector.<\/p>\n<p>EBA is part of the European System of Financial Supervisors (ESFS) and its main objectives are to maintain financial stability in the European Union and ensure the integrity, efficiency and smooth operation of the banking sector.<\/p>\n<div class='heateorSssClear'><\/div><div  class='heateor_sss_sharing_container heateor_sss_horizontal_sharing' 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xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"100%\" height=\"100%\" viewBox=\"0 0 32 32\"><path fill=\"#fff\" d=\"M25.515 6.896L6.027 14.41c-1.33.534-1.322 1.276-.243 1.606l5 1.56 1.72 5.66c.226.625.115.873.77.873.506 0 .73-.235 1.012-.51l2.43-2.363 5.056 3.734c.93.514 1.602.25 1.834-.863l3.32-15.638c.338-1.363-.52-1.98-1.41-1.577z\"><\/path><\/svg><\/span><\/a><\/div><div class=\"heateorSssClear\"><\/div><\/div><div class='heateorSssClear'><\/div>","yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>National Bank of Moldova - the first Eastern Partnership bank joining the Memorandum of Cooperation with the European Banking Authority - Moldova.org<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.moldova.org\/en\/national-bank-moldova-first-eastern-partnership-bank-joining-memorandum-cooperation-european-banking-authority\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Arina Livadari\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/national-bank-moldova-first-eastern-partnership-bank-joining-memorandum-cooperation-european-banking-authority\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/national-bank-moldova-first-eastern-partnership-bank-joining-memorandum-cooperation-european-banking-authority\\\/\"},\"author\":{\"name\":\"Arina 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