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    2nd Monday of the month: 14.00-17.00;
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    3rd Monday of the month: 14.00-17.00;
    Appointment: +373 22 822 607;

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

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Monetary indicators in October 2015



In October 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. decreased by MDL 457.4 million (1.5 percent) compared to September 2015 and accounted for MDL 29403.4 million. The decrease of the monetary base was determined by the decrease of net foreign assets by MDL 107.4 million (0.4 percent) and net domestic assets by MDL 350.0 million (25.0 percent).

Money supply M2 Money supply M2 includes money in circulation (M0), deposits of residents in MDL and money market instruments.decreased by MDL 756.7 million during the reporting period or by 1.9 percent compared to September 2015 and accounted for MDL 38653.8 million.

At the same time Money supply M3 Money supply M3 includes money supply M2 and deposits of residents in foreign currency expressed in MDL.decreased by MDL 1222.2 million (1.9 percent) in October 2015.

The analysis of the passive components of Money supply (M3) denotes the fact that this decrease was driven by the decrease of the balance of  Money in circulation M0 Money in circulation M0 represents cash released in circulation by the National Bank of Moldova, except for cash in banks and NBM vault.- by MDL 395.5 million and the total balance of deposits by MDL 826.7 million in October 2015 (Table no.1).       

Table no.1. Passive components of money supply

 

INDICATORS

Sept.15

Oct.15

Oct.15

Oct.15

MDL, million

MDL, million

Sept.15

Oct.14

%

%

1

     Money in circulation (M0)

16588.9

16193.4

-2.4

-8.0

2

     Sight deposits in MDL

7712.8

7222.2

-6.4

-28.1

3

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

24301.7

23415.6

-3.6

-15.3

4

     Term deposits in MDL

15108.8

15238.1

0.9

-12.4

5

     Money market instruments

0.0

0.0

 

 

6

MONEY SUPPLY (M2)

39410.5

38653.8

-1.9

-14.2

7

     Deposits in foreign currency

26308.1

25842.6

-1.8

24.0

8

MONEY SUPPLY (M3)

65718.6

64496.3

-1.9

-2.1

The balance of deposits in national currency decreased by MDL 361.2 million and accounted for MDL 22460.4 million, representing a share of 46.5 percent of total deposits, while the balance of deposits in foreign currency (recalculated in MDL) decreased by MDL 465.5 million and accounted for MDL 25842.6 million (with a share of 53.5 percent) (Table no.2).

 Table no.2. Structure of depositsDeposits 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

Sept.15

Oct.15

Oct.15

Oct.15

MDL, million

MDL, million

Sept.15

Oct.14

%

%

I

Deposits balance (Total) 

49129.7

48302.9

-1.7

0.1

 

including:

 

 

 

 

1.0

Deposits balance (in MDL):

22821.6

22460.4

-1.6

-18.1

 

       Share in deposits balance  (Total) %

46.5

46.5

 

 

1.1

     Non-banking financial sector

341.5

376.6

10.3

-49.7

1.2

     Non-financial companies sector, which majority ownership is public    

1080.1

1004.0

-7.0

-49.6

1.3

     Non-financial companies sector, which majority ownership is private

5386.0

4412.7

-18.07

-25.7

1.4

    Other residential sectors (individuals, etc.)

16014.0

16667.2

4.1

-11.2

2.0

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

26308.1

25842.6

-1.8

24.0

 

       Share in deposits balance  (Total) %

53.5

53.5

 

 

2.1

     Non-banking financial sector

1232.0

1184.4

-3.9

138.6

2.2

     Non-financial companies sector, which majority ownership is public    

418.0

505.8

21.0

22.7

2.3

     Non-financial companies sector, which majority ownership is private

5395.4

5397.4

0.0

42.2

2.4

    Other residential sectors (individuals, etc.)

19262.8

18755.0

-2.6

16.2

The decrease of money supply M3 in the reporting period was determined by the decrease in net foreign assets of the banking system by MDL 544.9 million (1.1 percent) and by the decrease in net domestic assets by MDL 677.3 million (4.4 percent).

Domestic credit of the banking system decreased by MDL 442.9 million, accounting for MDL 42923.9 million, due to the decrease in the balance of credits granted to the Government by MDL 189.4 million and that of credits granted to economy  by MDL 253.5 million.

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 October 2015 by 0.6 percent at the expense of the decrease of credits to economy in national currency by MDL 303.9 million (1.2 percent), while the credits in foreign currency (expressed in MDL) increased by MDL 50.4 million (0.3 percent) (Table no.3). At the same time, the credits to economy in foreign currency, expressed in USD, have increased by USD 6.1 million, USD during the reporting period.

Table no.3. Structure of credits granted to economy

 

INDICATORS

Sept.15

Oct.15

Oct.15

Oct.15

MDL, million

MDL, million

Sept.15

Oct.14

%

%

I

CREDITS GRANTED TO ECONOMY

44642.5

44389.0

-0.6

-8.9

 

including:

 

 

 

 

1

CREDITS GRANTED TO ECONOMY (in MDL):

25266.2

24962.3

-1.20

-14.1

 

       Share of Credits granted to economy, %

56.6

56.2

 

 

1.1

     Non-banking financial sector

694.0

659.4

-5.0

22.5

1.2

     Non-financial companies sector, which majority ownership is public    

829.3

906.4

9.3

11.7

1.3

     Non-financial companies sector, which majority ownership is private

16391.5

16162.2

-1.4

-21.0

1.4

         Other residential sectors (individuals, etc.)

7351.4

7234.3

-1.6

-0.4

 

         including:   Consumer loans

3556.3

3531.9

-0.7

6.1

 

                             Real estate loans 

2281.0

2261.9

-0.8

3.8

2

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

19376.3

19426.7

0.3

-1.1

 

       Share of Credits granted to economy, %

43.4

43.8

 

 

2.1

     Non-banking financial sector

890.5

876.5

-1.6

11.4

2.2

     Non-financial companies sector, which majority ownership is public    

934.3

906.4

-3.0

19.0

2.3

     Non-financial companies sector, which majority ownership is private

17202.8

17305.7

0.6

-2.9

2.4

         Other residential sectors (individuals, etc.)

348.6

338.1

-3.0

21.9

 

         including:   Consumer loans

15.2

14.3

-5.8

-28.0

 

                            Real estate loans 

163.0

158.8

-2.60

74.0

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 private by MDL 229.3 million (1.4 percent), balance of credits to non-banking financial sector and other resident sectors (including individuals) by MDL 34.6 million (5.0 percent) and by MDL 117.1 million (1.6 percent) respectively, while the balance of credits granted to non-financial companies sector, which majority ownership is public increased by MDL 77.1 million (9.3 percent). 

At the same time, the increase of the balance of credits granted to economy in foreign currency (expressed in MDL) was determined by the increase of credits granted to non-financial companies sector, which majority ownership is private by MDL 102.8 million (0.6 percent), while the balance of credits granted to non-financial companies sector, which majority ownership is public, that of credits granted to non-banking financial sector and to other resident sectors (including individuals) decreased by MDL 27.9 million (3.0 percent), MDL 14.0 million (1.6 percent) and MDL 10.5 million (3.0 percent), respectively.

Statistics

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