Financial Sector Assessment : Moldova

The Financial Sector Assessment Program (FSAP) team produced an Aide Memoire and the following three detailed reports that were reviewed by and delivered to the authorities: 1) technical notes; 2) assessment of compliance with standards and codes;...

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Main Author:	World Bank
Format:	Financial Sector Assessment Program (FSAP)
Language:	English en_US
Published:	Washington, DC 2013
Subjects:	ACCESS TO CREDIT ACCESS TO FINANCE ACCOUNTABILITY ACCOUNTING ADMINISTRATIVE BURDENS AFFILIATES ANTI-MONEY LAUNDERING ARREARS ASSET CLASSIFICATION AUDITING BALANCE SHEET BALANCE SHEETS BANK CREDIT BANK CREDITS BANK LENDING BANK POLICY BANK REGULATION BANK SUPERVISION BANK SUPERVISORS BANKING LAW BANKING SECTOR BANKING SUPERVISION BANKING SYSTEM BANKS BORROWER BUSINESS PLAN CAPITAL ADEQUACY CAPITAL ADEQUACY RATIOS CAPITAL MARKETS CAPITAL REQUIREMENTS CAPITALIZATION CASH FLOWS CENTRAL BANK CENTRAL BANKING CLASSIFIED LOANS COLLATERAL COLLATERAL LAWS COMMERCIAL BANK COMMERCIAL BANKS COMPLIANCE COSTS CONNECTED LENDING CONSOLIDATED SUPERVISION CONSOLIDATION CONTINGENCY PLANS CORPORATE GOVERNANCE COUNTRY RISK COUNTRY RISKS CREDIT APPROVAL CREDIT ASSOCIATIONS CREDIT COOPERATIVES CREDIT GROWTH CREDIT LINES CREDIT RATINGS CREDIT RISK CURRENCY CURRENCY BASKET DEBT DEBT MANAGEMENT DEBT PAYMENTS DEPOSIT DEPOSIT INSURANCE DEPOSIT-TAKING INSTITUTIONS DEPOSITOR DEPOSITORS DEPOSITS DIRECT FINANCING DISCLOSURE REQUIREMENTS DOMESTIC CURRENCY DUE DILIGENCE EARNINGS ECONOMIC ACTIVITY ENTERPRISE PERFORMANCE EQUITY FUNDS EQUITY INVESTORS EQUITY RATIOS EXCHANGE RATE EXCHANGE RATES EXPORTERS EXTERNAL DEBT EXTERNAL FINANCING EXTERNAL SHOCKS FINANCE CORPORATION FINANCES FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIATION FINANCIAL SECTOR FINANCIAL SECTOR ASSESSMENT FINANCIAL STABILITY FINANCIAL SYSTEM FINANCING NEEDS FISCAL POLICIES FOREIGN BANKS FOREIGN CURRENCY FOREIGN CURRENCY DEPOSITS FOREIGN CURRENCY LOANS FOREIGN EXCHANGE FOREIGN EXCHANGE RISK GOVERNMENT OWNERSHIP GOVERNMENT SECURITIES GOVERNMENT SECURITIES MARKET GROSS SETTLEMENT SYSTEM HOLDING HOLDINGS HOUSEHOLD DEBT ILLIQUIDITY INCOME INFLATION INFORMATION SHARING INSIDER LENDING INSURANCE INSURANCE COMPANIES INSURANCE COMPANY INSURANCE INDUSTRY INSURANCE PENETRATION INSURANCE PRODUCTS INSURANCE PROTECTION INTEREST RATE INTEREST RATE CHANGES INTEREST RATES INTERNAL CONTROLS INTERNATIONAL STANDARDS INVESTMENT FUND INVESTOR BASE JOINT-STOCK COMPANIES LARGE BORROWERS LAWS LEGAL AUTHORITY LEGAL FRAMEWORK LEGAL INFRASTRUCTURE LEGAL PROTECTION LEGISLATION LEGISLATIVE FRAMEWORK LENDING CYCLE LIFE INSURANCE LIQUID SECONDARY MARKET LIQUIDATION LIQUIDITY CRISIS LIQUIDITY MANAGEMENT LOAN LOAN CLASSIFICATION LOAN CONCENTRATIONS LOAN LOSS PROVISIONS LOAN PORTFOLIO LONG-TERM CAPITAL LONG-TERM RESOURCES MACROECONOMIC ENVIRONMENT MACROECONOMIC RISK MARKET COMPETITION MARKET ECONOMY MARKET FOR GOVERNMENT SECURITIES MARKET INTEREST RATES MARKET PRACTICES MARKET RISK MARKET RISKS MATURITIES MATURITY MICROFINANCE MICROFINANCE INSTITUTIONS MICROFINANCE SECTORS MONETARY POLICY MULTINATIONAL MULTINATIONAL BANKS NATIONAL BANK NATIONAL SECURITIES NONPERFORMING LOANS NPL OPEN ECONOMY OPERATIONAL INDEPENDENCE OWNERSHIP STRUCTURE PAYMENT OBLIGATIONS PAYMENT SYSTEM PRIMARY MARKET PRIVATE BANKS PRIVATIZATION PRUDENTIAL REGULATION PRUDENTIAL REGULATIONS PRUDENTIAL REQUIREMENTS PRUDENTIAL SUPERVISION RAPID GROWTH REGULATORY FRAMEWORK REMITTANCES REPAYMENT RESERVE RESERVE REQUIREMENT RESERVE REQUIREMENTS RESERVES RETURN RETURN ON ASSETS RETURN ON EQUITY RISK EXPOSURES RISK MANAGEMENT RURAL FINANCE SAVINGS SECONDARY MARKET SECURITIES SETTLEMENT SETTLEMENT SYSTEMS SHAREHOLDER SHAREHOLDERS SMALL LOANS SOCIAL FUND STATE INTERVENTION STOCK MARKET STRATEGIC INVESTOR STRATEGIC INVESTORS SUBSIDIARIES SUBSIDIARY SUPERVISORY AUTHORITY SUPERVISORY BOARD SVERIGES RIKSBANK SYSTEMIC RISK TAX TECHNICAL ASSISTANCE TERRORISM TRANSITION ECONOMIES TRANSPARENCY UNION UNSECURED CREDITORS VOLATILITY WAGES WITHDRAWAL
Online Access:	http://documents.worldbank.org/curated/en/2005/03/17893703/moldova-financial-sector-assessment http://hdl.handle.net/10986/15938

id	okr-10986-15938
recordtype	oai_dc
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	ACCESS TO CREDIT ACCESS TO FINANCE ACCOUNTABILITY ACCOUNTING ADMINISTRATIVE BURDENS AFFILIATES ANTI-MONEY LAUNDERING ARREARS ASSET CLASSIFICATION AUDITING BALANCE SHEET BALANCE SHEETS BANK CREDIT BANK CREDITS BANK LENDING BANK POLICY BANK REGULATION BANK SUPERVISION BANK SUPERVISORS BANKING LAW BANKING SECTOR BANKING SUPERVISION BANKING SYSTEM BANKS BORROWER BUSINESS PLAN CAPITAL ADEQUACY CAPITAL ADEQUACY RATIOS CAPITAL MARKETS CAPITAL REQUIREMENTS CAPITALIZATION CASH FLOWS CENTRAL BANK CENTRAL BANKING CLASSIFIED LOANS COLLATERAL COLLATERAL LAWS COMMERCIAL BANK COMMERCIAL BANKS COMPLIANCE COSTS CONNECTED LENDING CONSOLIDATED SUPERVISION CONSOLIDATION CONTINGENCY PLANS CORPORATE GOVERNANCE COUNTRY RISK COUNTRY RISKS CREDIT APPROVAL CREDIT ASSOCIATIONS CREDIT COOPERATIVES CREDIT GROWTH CREDIT LINES CREDIT RATINGS CREDIT RISK CURRENCY CURRENCY BASKET DEBT DEBT MANAGEMENT DEBT PAYMENTS DEPOSIT DEPOSIT INSURANCE DEPOSIT-TAKING INSTITUTIONS DEPOSITOR DEPOSITORS DEPOSITS DIRECT FINANCING DISCLOSURE REQUIREMENTS DOMESTIC CURRENCY DUE DILIGENCE EARNINGS ECONOMIC ACTIVITY ENTERPRISE PERFORMANCE EQUITY FUNDS EQUITY INVESTORS EQUITY RATIOS EXCHANGE RATE EXCHANGE RATES EXPORTERS EXTERNAL DEBT EXTERNAL FINANCING EXTERNAL SHOCKS FINANCE CORPORATION FINANCES FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIATION FINANCIAL SECTOR FINANCIAL SECTOR ASSESSMENT FINANCIAL STABILITY FINANCIAL SYSTEM FINANCING NEEDS FISCAL POLICIES FOREIGN BANKS FOREIGN CURRENCY FOREIGN CURRENCY DEPOSITS FOREIGN CURRENCY LOANS FOREIGN EXCHANGE FOREIGN EXCHANGE RISK GOVERNMENT OWNERSHIP GOVERNMENT SECURITIES GOVERNMENT SECURITIES MARKET GROSS SETTLEMENT SYSTEM HOLDING HOLDINGS HOUSEHOLD DEBT ILLIQUIDITY INCOME INFLATION INFORMATION SHARING INSIDER LENDING INSURANCE INSURANCE COMPANIES INSURANCE COMPANY INSURANCE INDUSTRY INSURANCE PENETRATION INSURANCE PRODUCTS INSURANCE PROTECTION INTEREST RATE INTEREST RATE CHANGES INTEREST RATES INTERNAL CONTROLS INTERNATIONAL STANDARDS INVESTMENT FUND INVESTOR BASE JOINT-STOCK COMPANIES LARGE BORROWERS LAWS LEGAL AUTHORITY LEGAL FRAMEWORK LEGAL INFRASTRUCTURE LEGAL PROTECTION LEGISLATION LEGISLATIVE FRAMEWORK LENDING CYCLE LIFE INSURANCE LIQUID SECONDARY MARKET LIQUIDATION LIQUIDITY CRISIS LIQUIDITY MANAGEMENT LOAN LOAN CLASSIFICATION LOAN CONCENTRATIONS LOAN LOSS PROVISIONS LOAN PORTFOLIO LONG-TERM CAPITAL LONG-TERM RESOURCES MACROECONOMIC ENVIRONMENT MACROECONOMIC RISK MARKET COMPETITION MARKET ECONOMY MARKET FOR GOVERNMENT SECURITIES MARKET INTEREST RATES MARKET PRACTICES MARKET RISK MARKET RISKS MATURITIES MATURITY MICROFINANCE MICROFINANCE INSTITUTIONS MICROFINANCE SECTORS MONETARY POLICY MULTINATIONAL MULTINATIONAL BANKS NATIONAL BANK NATIONAL SECURITIES NONPERFORMING LOANS NPL OPEN ECONOMY OPERATIONAL INDEPENDENCE OWNERSHIP STRUCTURE PAYMENT OBLIGATIONS PAYMENT SYSTEM PRIMARY MARKET PRIVATE BANKS PRIVATIZATION PRUDENTIAL REGULATION PRUDENTIAL REGULATIONS PRUDENTIAL REQUIREMENTS PRUDENTIAL SUPERVISION RAPID GROWTH REGULATORY FRAMEWORK REMITTANCES REPAYMENT RESERVE RESERVE REQUIREMENT RESERVE REQUIREMENTS RESERVES RETURN RETURN ON ASSETS RETURN ON EQUITY RISK EXPOSURES RISK MANAGEMENT RURAL FINANCE SAVINGS SECONDARY MARKET SECURITIES SETTLEMENT SETTLEMENT SYSTEMS SHAREHOLDER SHAREHOLDERS SMALL LOANS SOCIAL FUND STATE INTERVENTION STOCK MARKET STRATEGIC INVESTOR STRATEGIC INVESTORS SUBSIDIARIES SUBSIDIARY SUPERVISORY AUTHORITY SUPERVISORY BOARD SVERIGES RIKSBANK SYSTEMIC RISK TAX TECHNICAL ASSISTANCE TERRORISM TRANSITION ECONOMIES TRANSPARENCY UNION UNSECURED CREDITORS VOLATILITY WAGES WITHDRAWAL
spellingShingle	ACCESS TO CREDIT ACCESS TO FINANCE ACCOUNTABILITY ACCOUNTING ADMINISTRATIVE BURDENS AFFILIATES ANTI-MONEY LAUNDERING ARREARS ASSET CLASSIFICATION AUDITING BALANCE SHEET BALANCE SHEETS BANK CREDIT BANK CREDITS BANK LENDING BANK POLICY BANK REGULATION BANK SUPERVISION BANK SUPERVISORS BANKING LAW BANKING SECTOR BANKING SUPERVISION BANKING SYSTEM BANKS BORROWER BUSINESS PLAN CAPITAL ADEQUACY CAPITAL ADEQUACY RATIOS CAPITAL MARKETS CAPITAL REQUIREMENTS CAPITALIZATION CASH FLOWS CENTRAL BANK CENTRAL BANKING CLASSIFIED LOANS COLLATERAL COLLATERAL LAWS COMMERCIAL BANK COMMERCIAL BANKS COMPLIANCE COSTS CONNECTED LENDING CONSOLIDATED SUPERVISION CONSOLIDATION CONTINGENCY PLANS CORPORATE GOVERNANCE COUNTRY RISK COUNTRY RISKS CREDIT APPROVAL CREDIT ASSOCIATIONS CREDIT COOPERATIVES CREDIT GROWTH CREDIT LINES CREDIT RATINGS CREDIT RISK CURRENCY CURRENCY BASKET DEBT DEBT MANAGEMENT DEBT PAYMENTS DEPOSIT DEPOSIT INSURANCE DEPOSIT-TAKING INSTITUTIONS DEPOSITOR DEPOSITORS DEPOSITS DIRECT FINANCING DISCLOSURE REQUIREMENTS DOMESTIC CURRENCY DUE DILIGENCE EARNINGS ECONOMIC ACTIVITY ENTERPRISE PERFORMANCE EQUITY FUNDS EQUITY INVESTORS EQUITY RATIOS EXCHANGE RATE EXCHANGE RATES EXPORTERS EXTERNAL DEBT EXTERNAL FINANCING EXTERNAL SHOCKS FINANCE CORPORATION FINANCES FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIATION FINANCIAL SECTOR FINANCIAL SECTOR ASSESSMENT FINANCIAL STABILITY FINANCIAL SYSTEM FINANCING NEEDS FISCAL POLICIES FOREIGN BANKS FOREIGN CURRENCY FOREIGN CURRENCY DEPOSITS FOREIGN CURRENCY LOANS FOREIGN EXCHANGE FOREIGN EXCHANGE RISK GOVERNMENT OWNERSHIP GOVERNMENT SECURITIES GOVERNMENT SECURITIES MARKET GROSS SETTLEMENT SYSTEM HOLDING HOLDINGS HOUSEHOLD DEBT ILLIQUIDITY INCOME INFLATION INFORMATION SHARING INSIDER LENDING INSURANCE INSURANCE COMPANIES INSURANCE COMPANY INSURANCE INDUSTRY INSURANCE PENETRATION INSURANCE PRODUCTS INSURANCE PROTECTION INTEREST RATE INTEREST RATE CHANGES INTEREST RATES INTERNAL CONTROLS INTERNATIONAL STANDARDS INVESTMENT FUND INVESTOR BASE JOINT-STOCK COMPANIES LARGE BORROWERS LAWS LEGAL AUTHORITY LEGAL FRAMEWORK LEGAL INFRASTRUCTURE LEGAL PROTECTION LEGISLATION LEGISLATIVE FRAMEWORK LENDING CYCLE LIFE INSURANCE LIQUID SECONDARY MARKET LIQUIDATION LIQUIDITY CRISIS LIQUIDITY MANAGEMENT LOAN LOAN CLASSIFICATION LOAN CONCENTRATIONS LOAN LOSS PROVISIONS LOAN PORTFOLIO LONG-TERM CAPITAL LONG-TERM RESOURCES MACROECONOMIC ENVIRONMENT MACROECONOMIC RISK MARKET COMPETITION MARKET ECONOMY MARKET FOR GOVERNMENT SECURITIES MARKET INTEREST RATES MARKET PRACTICES MARKET RISK MARKET RISKS MATURITIES MATURITY MICROFINANCE MICROFINANCE INSTITUTIONS MICROFINANCE SECTORS MONETARY POLICY MULTINATIONAL MULTINATIONAL BANKS NATIONAL BANK NATIONAL SECURITIES NONPERFORMING LOANS NPL OPEN ECONOMY OPERATIONAL INDEPENDENCE OWNERSHIP STRUCTURE PAYMENT OBLIGATIONS PAYMENT SYSTEM PRIMARY MARKET PRIVATE BANKS PRIVATIZATION PRUDENTIAL REGULATION PRUDENTIAL REGULATIONS PRUDENTIAL REQUIREMENTS PRUDENTIAL SUPERVISION RAPID GROWTH REGULATORY FRAMEWORK REMITTANCES REPAYMENT RESERVE RESERVE REQUIREMENT RESERVE REQUIREMENTS RESERVES RETURN RETURN ON ASSETS RETURN ON EQUITY RISK EXPOSURES RISK MANAGEMENT RURAL FINANCE SAVINGS SECONDARY MARKET SECURITIES SETTLEMENT SETTLEMENT SYSTEMS SHAREHOLDER SHAREHOLDERS SMALL LOANS SOCIAL FUND STATE INTERVENTION STOCK MARKET STRATEGIC INVESTOR STRATEGIC INVESTORS SUBSIDIARIES SUBSIDIARY SUPERVISORY AUTHORITY SUPERVISORY BOARD SVERIGES RIKSBANK SYSTEMIC RISK TAX TECHNICAL ASSISTANCE TERRORISM TRANSITION ECONOMIES TRANSPARENCY UNION UNSECURED CREDITORS VOLATILITY WAGES WITHDRAWAL World Bank Financial Sector Assessment : Moldova
geographic_facet	Europe and Central Asia Moldova
description	The Financial Sector Assessment Program (FSAP) team produced an Aide Memoire and the following three detailed reports that were reviewed by and delivered to the authorities: 1) technical notes; 2) assessment of compliance with standards and codes; and 3) detailed bank-by-bank stress tests. The Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) section of the report was based on the report of an International Monetary Fund (IMF) technical assistance mission undertaken in April 2004. Although Moldova is the poorest country in Europe, measured by per capita Gross Domestic Product (GDP), the country has achieved some success in building up the framework of a functioning market economy, especially in the banking sector. In addition to the underlying structural weaknesses, there are several potential macroeconomic problems that increase the vulnerability of the financial system. These include: a) the direct financing of the state budget by the central bank against the background of the weak fiscal and external situation; b) dependency on remittances; and c) dollarization, in combination with significant exchange rate volatility.
format	Economic & Sector Work :: Financial Sector Assessment Program (FSAP)
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	Financial Sector Assessment : Moldova
title_short	Financial Sector Assessment : Moldova
title_full	Financial Sector Assessment : Moldova
title_fullStr	Financial Sector Assessment : Moldova
title_full_unstemmed	Financial Sector Assessment : Moldova
title_sort	financial sector assessment : moldova
publisher	Washington, DC
publishDate	2013
url	http://documents.worldbank.org/curated/en/2005/03/17893703/moldova-financial-sector-assessment http://hdl.handle.net/10986/15938
_version_	1764431339597070336
spelling	okr-10986-159382021-04-23T14:03:22Z Financial Sector Assessment : Moldova World Bank ACCESS TO CREDIT ACCESS TO FINANCE ACCOUNTABILITY ACCOUNTING ADMINISTRATIVE BURDENS AFFILIATES ANTI-MONEY LAUNDERING ARREARS ASSET CLASSIFICATION AUDITING BALANCE SHEET BALANCE SHEETS BANK CREDIT BANK CREDITS BANK LENDING BANK POLICY BANK REGULATION BANK SUPERVISION BANK SUPERVISORS BANKING LAW BANKING SECTOR BANKING SUPERVISION BANKING SYSTEM BANKS BORROWER BUSINESS PLAN CAPITAL ADEQUACY CAPITAL ADEQUACY RATIOS CAPITAL MARKETS CAPITAL REQUIREMENTS CAPITALIZATION CASH FLOWS CENTRAL BANK CENTRAL BANKING CLASSIFIED LOANS COLLATERAL COLLATERAL LAWS COMMERCIAL BANK COMMERCIAL BANKS COMPLIANCE COSTS CONNECTED LENDING CONSOLIDATED SUPERVISION CONSOLIDATION CONTINGENCY PLANS CORPORATE GOVERNANCE COUNTRY RISK COUNTRY RISKS CREDIT APPROVAL CREDIT ASSOCIATIONS CREDIT COOPERATIVES CREDIT GROWTH CREDIT LINES CREDIT RATINGS CREDIT RISK CURRENCY CURRENCY BASKET DEBT DEBT MANAGEMENT DEBT PAYMENTS DEPOSIT DEPOSIT INSURANCE DEPOSIT-TAKING INSTITUTIONS DEPOSITOR DEPOSITORS DEPOSITS DIRECT FINANCING DISCLOSURE REQUIREMENTS DOMESTIC CURRENCY DUE DILIGENCE EARNINGS ECONOMIC ACTIVITY ENTERPRISE PERFORMANCE EQUITY FUNDS EQUITY INVESTORS EQUITY RATIOS EXCHANGE RATE EXCHANGE RATES EXPORTERS EXTERNAL DEBT EXTERNAL FINANCING EXTERNAL SHOCKS FINANCE CORPORATION FINANCES FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIATION FINANCIAL SECTOR FINANCIAL SECTOR ASSESSMENT FINANCIAL STABILITY FINANCIAL SYSTEM FINANCING NEEDS FISCAL POLICIES FOREIGN BANKS FOREIGN CURRENCY FOREIGN CURRENCY DEPOSITS FOREIGN CURRENCY LOANS FOREIGN EXCHANGE FOREIGN EXCHANGE RISK GOVERNMENT OWNERSHIP GOVERNMENT SECURITIES GOVERNMENT SECURITIES MARKET GROSS SETTLEMENT SYSTEM HOLDING HOLDINGS HOUSEHOLD DEBT ILLIQUIDITY INCOME INFLATION INFORMATION SHARING INSIDER LENDING INSURANCE INSURANCE COMPANIES INSURANCE COMPANY INSURANCE INDUSTRY INSURANCE PENETRATION INSURANCE PRODUCTS INSURANCE PROTECTION INTEREST RATE INTEREST RATE CHANGES INTEREST RATES INTERNAL CONTROLS INTERNATIONAL STANDARDS INVESTMENT FUND INVESTOR BASE JOINT-STOCK COMPANIES LARGE BORROWERS LAWS LEGAL AUTHORITY LEGAL FRAMEWORK LEGAL INFRASTRUCTURE LEGAL PROTECTION LEGISLATION LEGISLATIVE FRAMEWORK LENDING CYCLE LIFE INSURANCE LIQUID SECONDARY MARKET LIQUIDATION LIQUIDITY CRISIS LIQUIDITY MANAGEMENT LOAN LOAN CLASSIFICATION LOAN CONCENTRATIONS LOAN LOSS PROVISIONS LOAN PORTFOLIO LONG-TERM CAPITAL LONG-TERM RESOURCES MACROECONOMIC ENVIRONMENT MACROECONOMIC RISK MARKET COMPETITION MARKET ECONOMY MARKET FOR GOVERNMENT SECURITIES MARKET INTEREST RATES MARKET PRACTICES MARKET RISK MARKET RISKS MATURITIES MATURITY MICROFINANCE MICROFINANCE INSTITUTIONS MICROFINANCE SECTORS MONETARY POLICY MULTINATIONAL MULTINATIONAL BANKS NATIONAL BANK NATIONAL SECURITIES NONPERFORMING LOANS NPL OPEN ECONOMY OPERATIONAL INDEPENDENCE OWNERSHIP STRUCTURE PAYMENT OBLIGATIONS PAYMENT SYSTEM PRIMARY MARKET PRIVATE BANKS PRIVATIZATION PRUDENTIAL REGULATION PRUDENTIAL REGULATIONS PRUDENTIAL REQUIREMENTS PRUDENTIAL SUPERVISION RAPID GROWTH REGULATORY FRAMEWORK REMITTANCES REPAYMENT RESERVE RESERVE REQUIREMENT RESERVE REQUIREMENTS RESERVES RETURN RETURN ON ASSETS RETURN ON EQUITY RISK EXPOSURES RISK MANAGEMENT RURAL FINANCE SAVINGS SECONDARY MARKET SECURITIES SETTLEMENT SETTLEMENT SYSTEMS SHAREHOLDER SHAREHOLDERS SMALL LOANS SOCIAL FUND STATE INTERVENTION STOCK MARKET STRATEGIC INVESTOR STRATEGIC INVESTORS SUBSIDIARIES SUBSIDIARY SUPERVISORY AUTHORITY SUPERVISORY BOARD SVERIGES RIKSBANK SYSTEMIC RISK TAX TECHNICAL ASSISTANCE TERRORISM TRANSITION ECONOMIES TRANSPARENCY UNION UNSECURED CREDITORS VOLATILITY WAGES WITHDRAWAL The Financial Sector Assessment Program (FSAP) team produced an Aide Memoire and the following three detailed reports that were reviewed by and delivered to the authorities: 1) technical notes; 2) assessment of compliance with standards and codes; and 3) detailed bank-by-bank stress tests. The Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) section of the report was based on the report of an International Monetary Fund (IMF) technical assistance mission undertaken in April 2004. Although Moldova is the poorest country in Europe, measured by per capita Gross Domestic Product (GDP), the country has achieved some success in building up the framework of a functioning market economy, especially in the banking sector. In addition to the underlying structural weaknesses, there are several potential macroeconomic problems that increase the vulnerability of the financial system. These include: a) the direct financing of the state budget by the central bank against the background of the weak fiscal and external situation; b) dependency on remittances; and c) dollarization, in combination with significant exchange rate volatility. 2013-09-30T21:20:01Z 2013-09-30T21:20:01Z 2005-03 http://documents.worldbank.org/curated/en/2005/03/17893703/moldova-financial-sector-assessment http://hdl.handle.net/10986/15938 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Economic & Sector Work :: Financial Sector Assessment Program (FSAP) Economic & Sector Work Europe and Central Asia Moldova

Financial Sector Assessment : Moldova

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