OREANDA-NEWS. April 16, 2010. According to the decision of the Administrative Board of NBM, it is provided that the term of credits granted to the banks in 2009 (the balance as of April 7, 2010) totaling USD541.8 million leis (USD 43,5 million) is extended for one year.

At the same time, it was decided to provide loans for on-lending the economic agents of the real sector of economy for one year in the amount of 73,5 million leis (USD 5.9 million) to the licensed banks, which had not previously received such resources from the National Bank of Moldova.

The base interest rate of the National Bank of Moldova, variable for the period of lending, plus a margin of 0.5% will be applied to both on loans with the extended use and on the credits to be provided. NBM reminds that from May to August 2009, in situation when banking system had faced the absence of liquidity, the National Bank of Moldova has opened credit lines for 9 certified banks of Moldova for one year with the base rate totaling 960 million leis (USD 77,2 million) for the purpose of lending real sector enterprises.

Subsequently, as a result of measures on the monetary policy liberalization, undertaken by the National Bank of Moldova in 2009, the excess liquidity in the banking system which to date amounts to about 4 billion leis (USD 321.8 million ) and is placed in the short-term monetary instruments of NBM, has formed. At the same time, on February 28, 2010, (the latest date of the banks’ reporting to NBM) total funds of the banking system, with the return period of 2 years and more, amounted to 12 billion 891 million leis (USD 1,037 billion), exceeding the assets of the same term by 5 billion 038 million leis (USD 405 million).