The National Bank of Moldova has published a draft instruction establishing uniform formats and templates for credit institutions and other entities to notify it, as resolution authority, when they cannot include a contractual term recognizing that a liability may be subject to write-down and conversion powers. The proposal transposes European Union implementing standards and would take effect on Jan. 1, 2029, subject to proposed amendments to Moldova’s recovery and resolution legislation. Notifications would cover individual contracts or instruments quarterly and, where required by the resolution authority, categories of liabilities semiannually. Firms would report the basis for impracticability, liability values, governing law, insolvency ranking and counterparty information, supported where appropriate by legal opinions or contracts. Category-level notifications would require an update if the liability amount rises by more than 10% within six months. Affected institutions would need appropriate internal procedures in place when the instruction takes effect. The first reports would be due within 10 working days after the end of the first quarter and first half of 2029, respectively.
2026-09-25National Bank of Moldova
National Bank of Moldova proposes standardized notifications for impracticability of contractual recognition of write-down and conversion powers
The National Bank of Moldova has proposed uniform notification templates for cases where firms cannot include contractual recognition of write-down and conversion powers in liabilities. The requirements would apply from Jan. 1, 2029, with quarterly reporting for contracts and instruments and semiannual reporting for specified liability categories. First reports would follow the first quarter and first half of 2029.