Financial stability and macroprudential policy

Dashboard

Financial Stress Index (FSI)

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vs. previous quarter: —

Vulnerability Index

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vs. previous quarter: —

RPPI (aggregate)

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vs. previous quarter: —

Credit‑to‑GDP gap (vs. trend)

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vs. previous quarter: —

Financial Stress Index (FSI) – level and components (quarterly)

The Financial Stress Index summarizes tensions in the financial system. The shaded areas show the contribution of three indicator groups—banking market, interest rates, and the foreign exchange market. When the FSI approaches or exceeds the financial stress threshold, risks in the financial system rise.
The FSI score is bounded between 0 and 1 (unitless).

Vulnerability Index – level and components (quarterly)

Vulnerability Index shows how selected indicators of the banking system deviate from their long‑run averages. Bars show the contribution of each component: positive values increase vulnerability, while negative values reduce it. The total vulnerability index is the sum of components.
The score is unitless. Quarter labels are shown in the “Q” format.

Risk map — component profile (—)

Component values are standardised (0 = historical average; “+” above average; “−” below average) for the selected quarter.

Residential Property Price Index (RPPI) — primary, secondary, aggregate

The Residential Property Price Index (RPPI) tracks advertised prices for dwellings in Chișinău municipality. Separate indices are computed for the primary market (new dwellings) and the secondary market (existing dwellings); the aggregate index combines them using transaction weights.
2019 (base year) = 100; values above 100 indicate higher prices relative to the base year.

Credit‑to‑GDP ratio — long‑term trend and gap (quarterly)

The light line shows the credit‑to‑GDP ratio (annualized), the darker line the long‑term trend, and the grey hatched area the gap (credit‑to‑GDP − trend) anchored at 0: negative values are below 0; positive values are above 0. Click the chart to select the quarter.

Macroprudential instruments

Capital buffers (NBM)

Capital conservation buffer (CCoB)

Buffer	Value / Rules
CCoB	2.5% of RWA (covered with CET1)

Countercyclical capital buffer (CCyB)

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Systemically important institutions buffer (O‑SII)

Bank	O‑SII buffer rate

O‑SII rates are taken from the latest published decisions; subsequent HCE adjustments may apply.

Systemic risk buffer (SRB)

Scope	Status
All exposures in the Republic of Moldova	— —
Sectoral — resident households	— —
Institution‑specific	— —
There are currently no SRB categories with a rate > 0%.

SRB framework: HCE 110/2018 (24 May 2018) – Regulation on capital buffers.

Responsible lending — requirements in force

Indicator	Applicable rule
DSTI (RSDV) — general cap	≤ 40% (all consumer loans within the scope of the Regulation)
DSTI — consumers with income > 2× the average wage	Up to +15 p.p. above the general cap (max 55%)
DSTI — foreign‑currency loans, income only in MDL	Separate cap: ≤ 30%
DSTI — in the absence of documented income	Debt service ≤ 40% of the national minimum wage
DSTI — exemptions	Not applicable to “Prima Casă”. Not applicable to: restructured loans; overdrafts repaid within 1 month; loans fully collateralised by deposit; loans assumed pursuant to a court decision/judgment.
LTV (RCG) — real estate	≤ 80% (loan for real estate investment)
LTV — exemptions	Refinancings without increasing the principal; programs with state guarantee/compensation (LTV calculated net of the guarantee); cash collateral (LTV calculated on the unencumbered portion); purchase/new construction with sale of the primary residence (temporary exceedance as per contract conditions; max 15% of new loans over the last 3 months).
Maximum maturities	5 years (consumer loans); 30 years (mortgage loans). For refinancings, extensions are allowed if the outstanding balance does not increase and collateral remains adequate; revolving facilities may exceed, subject to periodic reassessment of DSTI.

Rules extracted from the NBM Regulation on responsible lending to consumers by banks.

Banking sector — at a glance

Indicator	Value
Total assets (bn. MDL)	—
Total deposits (bn. MDL)	—
Total loans (bn. MDL)	—
Loans‑to‑deposits ratio (LTD)	—
Total capital ratio (TCR)	—
LCR (Liquidity Coverage Ratio)	—
NPL ratio (non‑performing loans)	—
ROA / ROE	—

Source: NBM — Financial Stability Report; Quarterly Financial Stability Reports; Banking statistics.

Deposit guarantee scheme

Parameter	Value
Coverage limit (at the selected quarter)	—
Fund balance (bn. MDL)	—
Covered eligible deposits (bn. MDL)	—
Fund coverage ratio	—

Values are quarterly; “—” indicates that no data are published for the selected indicator/quarter. The coverage limit reflects the level in force at the selected quarter.