• 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 !

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Monetary indicators in October 2017



In October 2017, 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 955.2 million (2.5 percent) compared to the previous month, and totaled MDL 37,103.0 million. The decrease of the monetary base was determined by the decrease of one of its counterparts: net domestic assets, which declined by MDL 1,469.1 million (56.3 percent), while net foreign assets increased by MDL 513.9 million (1.3 percent).

Money supply M2 Money supply M2 includes money in circulation (M0), deposits of residents in MDL and money market instruments.increased by MDL 420.4 million, or by 0.9 percent compared to September 2017, and amounted to MDL 49,889.0 million, having increased year-on-year by 9.8 percent.

Money supply M3 Money supply M3 includes money supply M2 and deposits of residents in foreign currency expressed in MDL.decreased by MDL 129.4 million (by 0.2 percent), recording values 6.9 percentage points higher than in September 2016.

The analysis of the Money supply components (M3) shows that its decrease over October 2017 was driven by the decrease in the total deposit balance, by MDL 120.7 million, as well as by the decrease in one of the monetary aggregates, money in circulation (M0)Money in circulation M0 represent circulating cash issued by the National Bank of Moldova, except for cash in banks and NBM vault., which reduced by MDL 8.7 million (Chart 1). 

It should be mentioned that Money in circulation (M0) and Money supply (M1)Money supply M1 includes money in circulation and residents' domestic currency sight deposits. increased compared to October 2016 by 8.5 and 16.8 percentage points, respectively.

 

Chart no. 1. Monetary aggregate M3

The domestic currency deposit balance increased by MDL 429.1 million and amounted to MDL 31,614.3 million, accounting for a share of 56.1 percent of total deposit balance, while foreign currency deposit balance (recalculated in MDL) decreased by MDL 549.8 million, to MDL 24,716.7 million, accounting for a share of 43.9 percent (Chart 2).

 

Chart no. 2. DepositsDeposits are 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). dynamics, %

From the perspective of its counterparts, the decrease of M3 Money supply over the reporting period was determined by the decrease in net foreign assetsIs calculated by subtracting foreign liabilities from foreign assets.
Foreign assets include: deposits placed in non-residents insittutions; loans to non-residents; debt securities held (issued by non-residents); non-resident; shares and other equity held by residents, monetary gold.
Foreign liabilities include the resources attracted from non-residents: deposits, debt securities, credits and IMF loans, liabilities for distributed SDRs and other liabilities
of the banking system, by MDL 89.6 million (0.1 percent), and by the increase in net domestic assetsis calculated by subtracting domestic liabilities from domestic assets.
Domestic assets include: resident loans; debt securities held (issued by residents); shares and other equity investments held by residents.
Domestic liabilities (excluding components of money supply M3) include the resources attracted from residents: deposits, debt securities with over 2 years’ maturity issued on domestic market; capital and reserves.
, by MDL 39.8 million (0.5 percent).

In October, the balance of claims on the economy According to the IMF methodology, non-resident loans, interbank loans and loans extended to the Government of the Republic of Moldova are excluded from the total claims on the economy, (including the interest calculated for credits and for credits of banks - in liquidation process). decreased by MDL 767.4 million (2.0 percent) as a result of the decrease in claims on the economy, in domestic currency and foreign currency (recalculated in MDL), by MDL 441.7 million (2.0 percent) and MDL 325.7 (2.0 percent), respectively (Chart 3).

 

Chart no. 3. The dynamics of the claims on the economy

It should be mentioned that the claims on the economy in foreign currency, expressed in USD, have decreased over the reference period by USD 3.0 million.

The negative evolution of the balance of the claims on the economy, in domestic currency units,  was determined by the balance of the claims decrease recorded for such  sectors as non-financial commercial companies which majority ownership is public, non-financial commercial companies which majority ownership is private, and in the non-banking financial companies, by MDL 65.6 million (6.8 percent), 347.5 million (2.9 percent), and 45.6 million (6.3 percent), respectively. At the same time, the balance of claims to other resident sectors (including individuals) increased by MDL 17.0 million (0.2 percent).  

At the same time, the decrease of the balance of the claims on the economy in foreign currency (expressed in MDL) was determined by the decline in all its components, such as: in non-financial companies, which majority ownership is private, by MDL 269.9 million (1.8 percent); in non-financial companies, which majority ownership is public, by MDL 30.7 million (5.5 percent); in the non-banking financial companies and other resident sectors (including individuals), by MDL 11.9 million (1.5 percent) and MDL 13.2 million (5.5 percent), respectively.

 


* change recorded against the values of the same period of the previous year

 

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