• Calling days and hours of the governing body of the National Bank of Moldova for citizens.


  • Octavian Armașu, Governor of the National Bank of Moldova

    1st Monday of the month: 14.00-17.00;
    Appointment: +373 22 822 606;


  • Vladimir Munteanu, First Deputy Governor of the National Bank of Moldova

    2nd Monday of the month: 14.00-17.00;
    Appointment: +373 22 822 606;


  • Cristina Harea, Deputy Governor of the National Bank of Moldova

    3rd Monday of the month: 14.00-17.00;
    Appointment: +373 22 822 607;

  • Ion Sturzu, Deputy Governor of the National Bank of Moldova

    4th Monday of the month: 14.00-17.00;
    Appointment: +373 22 822 607.

Please, note the requirements for receiving and examining petitions to the National Bank of Moldova !

Details

 

Main navigation BNM

Expand Hide

Monetary indicators in May 2015



In May 2015, monetary baseThe monetary base includes money in circulation  (outside banking system), banking reserves (banks' reserves in MDL on correspondent accounts maintained at the National Bank of Moldova and cash in banks), deposits at sight of other organizations with the National Bank of Moldova,  “overnight” deposits of banks and required reserves in foreign currency.The monetary base includes money in circulation  (outside banking system), banking reserves (banks' reserves in MDL on correspondent accounts maintained at the National Bank of Moldova and cash in banks), deposits at sight of other organizations with the National Bank of Moldova,  “overnight”  increased by MDL 1007.5 million (4.1 percent) compared to April 2015 and accounted for MDL 25735.8 million. The increase of the monetary base was determined by the increase of net domestic assets by MDL 1151.7 million (4.3 percent). At the same time, net foreign assets decreased by MDL 144.3 million (0.6 percent).

Money supply M2Money supply M2 includes monetary aggregate (M0), deposits in MDL and money market instruments increased during the reporting period by MDL 374.6 million, or by 1.0 percent compared to April 2015 and accounted for MDL 39650.9 million.   

At the same time, Money supply M3 decreased in May 2015 by 51.8 MDL million (0.1 percent).

The analysis of the passive components of money supply (M3) denotes that, this decrease in May 2015 was driven by the decrease of the balance of deposits by MDL 317.7 million, while the balance of Money in circulation (M0)Money in circulation M0 represents cash in circulation put by the National Bank of Moldova, except for cash in banks and NBM vault increased by MDL 265.8 million in May 2015 (Table no.1).            

Table no.1 Passive components of money supply  

  INDICATORS Apr.15 May 15 May 15 May 15
million MDL million MDL Apr.15 May 14
% %
1 Money in circulation (MO) 15410.9 15676.8 1.7 -9.4

2

   Sight deposits in MDL

8503.7

8603.2

1.2

-10.8

3

Money supply (M1)Money supply M1 includes  money in circulation  and sight deposits in MDL of residents

23914.7

24280.0

1.5

-9.9

4

   Term deposits in MDL

15361.7

15370.9

0.1

-13.8

5

   Money market instruments

0.0

0.0

   

6

MONEY SUPPLY (M2)

39276.3

39650.9

1.0

-11.4

7

   Deposits in foreign currency

25580.3

25153.9

-1.7

35.7

8

MONEY SUPPLY (M3)

64856.6

64804.8

-0.1

2.3

The balance of deposits in national currency increased by MDL 108.7 million and reached the level of MDL 23974.1million, which share equalled to 48.8 percent of total deposits, while the deposits in foreign currency (recalculated in MDL) decreased by MDL 426.4 million and amounted to MDL 25153.9 million (with a share of 51.2 percent) (Table no.2).

Table no.2 Deposits structureDeposits structure is classified by institutional sectors, according to the Instruction on filling out by the licensed banks of the Report on monetary statistics (Official Monitor of the Republic of Moldova no.206-215 of December 2, 2011).

 

INDICATORS

Apr.15

May 15

May15

May15

million MDL

million MDL

Apr.15

May14

%

%

I

Deposits balance (Total)  

49445.7

49128.0

-0.6

6.8

 

Including:

       

1.0

Deposits balance (in MDL): 

23865.4

23974.1

0.5

-12.7

 

   Share in deposits balance  (Total) %

48.3

48.8

   

1.1

   Non-banking financial sector

430.7

414.9

-3.7

-43.4

1.2

   Non-financial companies sector, which majority ownership is public           

1153.8

1190.9

3.2

-27.3

1.3

Non-financial companies sector, which majority ownership is private

5683.8

5932.1

 

4.4

1.1

1.4

   Other residential sectors (individuals, etc.)

16597.1

16436.2

-1.0

-14.6

2.0

Balance of deposits in foreign currency (recalculated in MDL):

25580.3

25153.9

-1.7

35.7

 

   Share in deposits balance  (Total) %

51.7

51.2

   

2.1

   Non-banking financial sector

1158.3

1165.9

0.7

147.8

2.2

   Non-financial companies sector, which majority ownership is public    

367.1

353.4

-3.7

-22.0

2.3

   Non-financial companies sector, which majority ownership is private

5295.3

5279.6

-0.3

83.2

2.4

   Other residential sectors (individuals, etc.)

18759.5

18354.9

-2.2

24.6

 The decrease of money supply M3 during the reporting period was determined by the decrease in net foreign assets of the banking system by MDL 410.8 million (0.9 percent), while the net domestic assets of the banking system increased by MDL 359.0  million (1.9 percent).

Domestic credit of the banking system increased by MDL 251.6 million, up to the level of MDL 42954.2 million, due to the increase in the balance of credits granted to the Government by MDL 267.1 million, while the balance of credits granted to economy decreased by MDL 15.6 million.

The balance of credits in economyAccording to the IMF methodology, the interbank credits and the credits granted to the Government are excluded from the total credits in the economy (including the interest calculated for credits and for credits of banks - in liquidation process) decreased in May 2015 by 0.04 percent at the expense of the decrease of credits granted to economy in national currency by MDL 483.0 million (1.9 percent), while the credits in foreign currency (expressed in MDL) increased by MDL 467.5 million (2.8 percent) (Table no.3). At the same time, the credits granted to economy in foreign currency, expressed in USD, increased by USD 27.0 million.  

Table no.3 Structure of credits granted to economy 

 

INDICATORS

Apr.15

May15

May15

May15

million MDL

million MDL

Apr.15

May14

%

%

I

CREDITS GRANTED TO ECONOMY 

42627.3

42611.7

-0.04

-4.60

 

Including:

       

1

CREDITS GRANTED TO ECONOMY (in MDL):

25769.4

25286.4

-1.9

-6.6

 

      Share of Credits granted to economy, %

60.5

59.3

   

1.1

   Non-banking financial sector

665.5

670.7

0.8

33.1

1.2

   Non-financial companies sector, which majority ownership is public    

862.2

842.3

-2.3

13.7

1.3

   Non-financial companies sector, which majority ownership is private

16896.4

16404.7

-2.91

-13.8

1.4

   Other residential sectors (individuals, etc.)

7345.3

7368.6

0.3

8.1

 

     Including:   Consumer loans

3445.3

3481.8

1.1

17.8

 

                        Real estate loans 

2288.4

2284.7

-0.2

19.6

2

CREDITS GRANTED TO ECONOMY  IN FOREIGN  CURRENCY (recalculated in MDL):

16857.9

17325.3

2.8

-1.4

 

   Share of Credits granted to economy, %

39.5

40.7

   

2.1

   Non-banking financial sector

732.6

714.6

-2.5

-12.8

2.2

   Non-financial companies sector, which majority ownership is public    

854.7

884.2

3.4

8.7

2.3

 Non-financial companies sector, which majority ownership is private

14988.9

15409.6

2.8

-1.5

2.4

 Other residential sectors (individuals, etc.)

281.6

317.0

12.57

6.9

 

Including:   Consumer loans

18.2

17.5

-3.9

18.4

 

                    Real estate loans 

97.6

138.3

41.7

50.7

          Negative evolution of the balance of credits granted to economy in national currency was determined by the decrease of credits granted to non-financial companies sector, which majority ownership is public and the balance of credits granted to non-financial companies sector, which majority ownership is private by MDL 19.9 million (2.3 percent) and by MDL 491.7 million (2.9 percent) respectively, while the balance of credits granted to the non-banking financial sector and other resident sectors (including individuals) increased by MDL 5.2 million (0.8 percent) and by MDL 23.3 million (0.3 percent).

       At the same time, the increase in the balance of credits granted to economy in foreign currency (expressed in MDL) was influenced by the increase in its following components, such as: the balance of credits granted to non-financial companies sector, which majority ownership is public by MDL 29.5 million (3.5 percent), the balance of credits granted to non-financial companies sector, which majority ownership is private by MDL 420.6 million (2.8 percent) and the balance of credits granted to other resident sectors (including individuals) by MDL 35.4 million (12.6 percent), respectively. At the same time, the balance of credits granted to non-banking financial sector decreased by MDL 18.1 million (2.5 percent).

 

Subscribe to Newsletter
CAPTCHA
This question is for testing whether or not you are a human visitor and to prevent automated spam submissions.