Normative acts of the National Bank of Moldova

(No.4-08 from 10.18.1995)

These regulations have been adopted in order to introduce mechanism of liquidity management. Lombard facility, extended as credit to banks against collateral, is indented to serve as a short-term buffer against unexpected changes in liquidity, for example, related to settlement of payment transactions or to meet the reserve requirements. The NBM buys only government securities with 91-days maturity.