Republic of Moldova: Financial System Stability Assessment

International Monetary Fund

No 2026/061, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper presents Republic of Moldova’s Financial System Stability Assessment report. Although they remain contained for now, risks to financial stability are rising, as the credit‑to‑gross domestic product ratio has reached its highest level since 2015 and house prices are at historical peaks. The banking system remains broadly resilient under a severe adverse scenario, supported by strong liquidity buffers across all banks and high initial capital in some institutions. Further strengthening of supervision will require additional resources. Ensure that the National Bank of Moldova prioritizes financial stability objectives above developmental objectives and enhances its governance; further strengthens risk-based supervision (RBS); and improves the major acquisitions framework. The report suggests conducting sectoral and institutional risk assessments for all supervised sectors and entities based on the RBS methodology; increase targeted on-site inspections using institutional risk profiles; and develop a sanctioning policy.

Keywords: rbs methodology; stress test result; Fsap update; risk profile; World Bank; bank oversight; Anti-money laundering and combating the financing of terrorism (AML/CFT); Financial sector stability; Financial Sector Assessment Program; Credit; Global; Europe (search for similar items in EconPapers)
Pages: 84
Date: 2026-03-05
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