Moldovan national financial stability committee reformed

Chisinau, 13 October /MOLDPRES/ - The cabinet of ministers, at a meeting on 12 October, approved a decision on amendment and completion of the law on the setting up of the National Financial Stability Committee (CNSF), which provide for the latter’s reformation.

The committee has a small number of members, with a low political influence and a strict relevance with a view of ensuring the financial stability. The committee is made up of Governor of the National Bank of Moldova Sergiu Cioclea, Finance Minister Octavian Armasu, Economics Minister Octavian Calmic, the deputy head of the National Financial Market Committee, Iurie Filip, and the general executive director of the fund of guaranteeing deposits in the banking system, Eduard Usatii.       

CNSF was created in 2010. Yet, it has proved to be poorly efficient in the prevention and regulation of the banking crisis, the Finance Ministry said.

At the same time, the decision sees that the head and deputy head of the National Financial Stability Committee be elected with the votes of the majority of the CNSF members, who will carry out their work on permanent basis. If necessary, the Committee has right to summon representatives of public authorities and other legal entities to meeting. Also, the CNSF’s secretariat works, as well as the monitoring of the enforcement of the approved decisions will be carried out by the National Bank of Moldova.  

(Reporter V. Bercu, editor M. Jantovan)