Central bank announces banking supervision priorities for 2023

The National Bank of Moldova this year will continue supervising with prudence the work of licensed banks so as to maintain them well capitalized and stable given that the national banking system closed the year with good financial results and the banks kept all the prudential indicators above the regulated limits, IPN reports.

The NBM’s priorities for 2023 include the maintaining of an adequate level of liquidly, identification and appropriate management of the credit risk and risks in the prevention and combating of money laundering and terrorism financing, application of internal stress testing, assessment and dealing with weaknesses related to payment systems and payment services, and others.

“The National Bank’s efforts will center on the actions taken in the context of the tendencies to digitize the payment services and modernize the automated system of interbank payments and to implement the instant payment scheme in the near future. The NBM will also ensure the banks effectively test their plans for continuing work and demonstrate the capacity to support the resilience of the bank for all the performed operations,” the central bank noted in a press release.

The National Bank also said that among the main preoccupations in 2022 was the efficient management of the immediate effects of the war in Ukraine and those caused by the inflation and the COVID-19 pandemic. Despite the negative external factors, the indicators of the banking sector exceeded the regulated limits, pointing to the sector’s resilience owing to the reforms done the past few years.

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