National Bank of Moldova provides flexibility to banks in approaching economic agents which have loans

Chisinau, 27 March /MOLDPRES – The executive committee of the National Bank of Moldova (BNM) today approved a decision which allows the licenced banks postponing or changing the terms of payment of sums on the loans provided to economic agents till 30 June 2020.

The change of the aforementioned terms will not result in the automatic classification of the concerned loans into a tougher category than the one existing on the date when this decision was adopted.  

„The decision refers to the legal entities the financial situation of which was temporarily hit, as a result of the state of emergency and economic consequences triggered by COVID-19,’’ a BNM press release reads.

According to the National Bank, the measures could be taken by each bank individually, in line with its home regulations and contractual provisions with the concerned debtors, including their payment capacity.    

Thus, the economic agents will have to notify, with arguments, the bank where they are served about the temporary difficulty of payment, triggered by the concerned situation. ‘’Afterwards, the banks will be obliged to cautiously assess the quality of the loans and identify any situation of debtors’ improbability of payment,’’ National Bank sources said.   

Alsop, the banks will further ensure the efficient and cautious management of all risks, in order to maintain the stability of their financial situation.