OREANDA-NEWS. On January 30, 2007 this has been said by the Director of the Department for regulation and Bank Control of the NBM Radu Musteata in the course of “round table” in the NBM.

He has noted that introduction of standards and recommendations of Bazel Committee is intended to ensure stability in banking sector of the country. He says, such international financial organizations as IMF, WB, EBRD find important introduction of main principles of Bazel Committee. By latest assessments, IMF and WB experts state that Moldova has created good structure for efficient banking control and it can be considered meeting basic principles of Bazel Committee.

Radu Musteata has noted that implementing into practice the main principles of Bazel committee on efficient banking control, the NBM performs control over banks activity, assesses the situation and identifies possible risks to pay attention to, and controls their managing. In particular, they assess credit risks, risks of the country because of possible change in its ratings, market risks, liquidity risks, operation risks, interest rate risks, etc. Radu Musteata notes, by now Moldova has got good results in introduction of main principles of Bazel committee on efficient banking control.

The specialist says, these principles are regularly completed with new recommendations and standards in banking control, thus, there is no talk about their complete implementation by some date. "Bazel Committee principle are in constant development, they are to be constantly followed“, - stresses Radu Musteata. He has noted that for consolidated control over banks activity the NBM needs technical tools for risks assessing both in insurance and leasing companies cooperating with banks to assess possible risks for banks involved.