OREANDA-NEWS. March 05, 2010. They are to provide depositors with the early access to the funds of their deposits in case of a bank’s bankruptcy within two weeks instead of the previous period of 5 months.

The National Bank of Moldova’s President Dorin Dragutanu said the alterations, agreed upon earlier with the International Monetary Fund, allow the preliminary payment from the Deposit Assurance Fund to insured depositors on the basis of the bank’s accounting documents instead of on the basis of the long procedure of the check up of the authenticity by a liquidator. It is also permitted to use funds of the Deposit Assurance Fund to carry out operations of taking of the problem bank’s debts.

The amendments will provide coordination and exchange of information between the Deposit Assurance Fund and the NBM and confidentiality of information by means of revision of the order of appointment and qualification of members of the Deposit Assurance Fund’s Council.