National Bank of Moldova to be able to extend appointment period of temporary administrator

10:20 | 19.10.2018 Category: Economic

Chisinau, 19 October /MOLDPRES/- The National Bank of Moldova may exceptionally extend the appointment of a temporary administrator whenever necessary. The promulgation decree and the law amending Article 52 of the Law on recovery and resolution of banks were published today in the Official Journal of Moldova.

The new regulations stipulate that the BNM may exceptionally extend the appointment period of a temporary administrator whenever necessary, if the conditions for appointment of the temporary administrator continue to be met. The appointment period of a temporary administrator should not exceed one year.

Currently, the legislation does not stipulate how many times the appointment of a temporary administrator may be extended.

(Reporter A. Zara, editor A. Răileanu)

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