{
  "title": "Republic of Moldova: Financial System Stability Assessment",
  "publication": "IMF Staff Country Reports, February 29, 2016",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/republic-of-moldova-financial-system-stability-assessment-43745",
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  "summary": "Moldova has made some important advances since the 2008 FSAP Update. On the positive side, inflation has been brought down to single digits, the payment system has been upgraded, and important enhancements have been made to financial sector regulation and supervision.",
  "publishDate": "2016-02-29",
  "series": "IMF Staff Country Reports",
  "sections": [
    {
      "heading": "Executive summary and key findings",
      "content": "- Inflation has been brought down to single digits.\n- The payment system has been upgraded.\n- Important enhancements have been made to financial sector regulation and supervision.\n- Risks to banking sector stability have become severe.\n- Large credit concentration and concealed connected lending create elevated vulnerability.\n- Questionable cross-border exposures and important data gaps mean that regulatory data likely significantly understate the system’s vulnerability.\n- Non-transparent ownership, weak governance, connected lending, and weaknesses in regulatory powers and enforcement further exacerbate risks and could limit the scope for an effective policy response to shocks.\n- Governance structures, internal oversight processes, and risk management practices are poorly developed.\n- In some cases, cross-border exposures are substantial and the pattern of some (particularly cross-border) financial transactions suggest a serious risk of money laundering."
    },
    {
      "heading": "Subject areas and keywords",
      "content": "- Subjects: Banking; Commercial banks; Financial crises; Financial institutions; Financial sector policy and analysis; Financial sector stability; Legal support in revenue administration; Revenue administration; Stress testing\n- Keywords: B. bank governance; bank; bank shareholder; Commercial banks; CR; Financial sector stability; Global; ISCR; Legal support in revenue administration; NBM; NBM board members; NBM law; NBM recommendation; NBM regulation; NBM securities; ownership structure; resolution plan; Stress testing\n\n---\n\n Content in this bundle\n\n- Republic of Moldova: Financial System Stability Assessment; IMF Country Report 16/70; June 5, 2014\n  - Republic of Moldova: Financial System Stability Assessment; IMF Country Report 16/70; June 5, 2014 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Republic of Moldova: Financial System Stability Assessment; IMF Country Report 16/70; June 5, 2014 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/cr/issues/2016/12/31/republic-of-moldova-financial-system-stability-assessment-43745"
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    "Published: February 29, 2016",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781513501611.002",
    "Inflation has been brought down to single digits.",
    "The payment system has been upgraded.",
    "Important enhancements have been made to financial sector regulation and supervision.",
    "Risks to banking sector stability have become severe.",
    "Large credit concentration and concealed connected lending create elevated vulnerability.",
    "Questionable cross-border exposures and important data gaps mean that regulatory data likely significantly understate the system’s vulnerability.",
    "Non-transparent ownership, weak governance, connected lending, and weaknesses in regulatory powers and enforcement further exacerbate risks and could limit the scope for an effective policy response to shocks.",
    "Governance structures, internal oversight processes, and risk management practices are poorly developed.",
    "In some cases, cross-border exposures are substantial and the pattern of some (particularly cross-border) financial transactions suggest a serious risk of money laundering.",
    "Subjects: Banking; Commercial banks; Financial crises; Financial institutions; Financial sector policy and analysis; Financial sector stability; Legal support in revenue administration; Revenue administration; Stress testing",
    "Keywords: B. bank governance; bank; bank shareholder; Commercial banks; CR; Financial sector stability; Global; ISCR; Legal support in revenue administration; NBM; NBM board members; NBM law; NBM recommendation; NBM regulation; NBM securities; ownership structure; resolution plan; Stress testing",
    "**Republic of Moldova: Financial System Stability Assessment; IMF Country Report 16/70; June 5, 2014**"
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