Lecture 11 Sistemul Bankar 1. Componentele, structura i caracteristicile sistemului bancar 2 Funciile Bancilor Centrale 3.

Bncile comerciale rol, funcii, operaiuni

Lecture 11Banking system 1 Components and structure and characteristics of the banking system 2 Functions of the central bank 3. Comercial banks role, functions and operations

The combination of the instability of banks as well as their important facilitating role in the economy led to banking being thoroughly regulated. The amount of capital a bank is required to hold is a function of the amount and quality of its assets. Major banks are subject to the Basel Capital Accord promulgated by the Bank for International Settlements. In addition, banks are usually required to purchase deposit insurance to make sure smaller investors are not wiped out in the event of a bank failure. Commercial bank, is the term used for a normal bank to distinguish it from an investment bank. Investment banks "underwrite" (guarantee the sale of) stock and bond issues, trade for their own accounts, make markets, and advise corporations on capital markets activities such as mergers and acquisitions. 10.1.Components, structure and characteristics of the banking system. The banking system has emerged as a necessity of society, through which is achieved the accumulation of funds and their distribution under various forms, executing the intermediary function between economic agents. A stable banking system, effective and sustainable, which would ensure mobilization of available money of the national economy, directing them to conduct effective financial activities, is an important prerequisite for an economic development. The banking system is one of the most important pillars of the economy in a country, being the connecting link between sectors of the economy, whose activity affects the economic, social and political situation of a state. The importance of banking systems stability is more visible in terms of financial instability and imperfections in the financial system, the vulnerability of banks to changes of the economic environment and banking crises are the main factors that arouse significant interest towards the study and implementation in practice of banking stability. The banking system of a country includes: the institutional framework - consisting of the central bank (having the coordinating and supervisor role), commercial banks and other financial institutions; 1

10.1. Componentele, structura i caracteristicile sistemului bancar. Sistemul bancar a aparut ca o necesitate a societii, prin intermediul lui este realizat acumularea mijloacelor bneti i distribuirea acestora sub diferite forme, sistemul bancar executnd funcia de intermediar ntre agenii economici. Un sistem bancar stabil, eficient i viabil care ar asigura mobilizarea disponibilitilor monetare ale economiei naionale, orientndule spre desfurarea activitilor financiare eficiente, constituie o premis important pentru dezvoltarea economic. Sistemul bancar este unul dintre cei mai importani piloni ai economiei unei ri, reprezintnd veriga de legtur dintre ramurile economiei, a cror activitate influeneaz situaia economic, social i politic a unui stat. Importana stabilitii sistemului bancar este mult mai vizibil n condiiile instabilitii financiare, iar imperfeciunile sistemului financiar, vulnerabilitatea bncilor la schimbrile mediului economic i crizele bancare constituie factorii principali ce trezesc un interes major fa de studierea i realizarea n practic a stabilitii bancare. Sistemul bancar al unei ri cuprinde: cadrul instituional format din Banca Central (cu rol de coordonare i supravegere), banci comerciale i alte instituii financiare;

cadrul juridic - format din ansamblul reglementrilor care guvernez activitatea; Sstemul bancar este organizat avnd axe de referine Banca Central, care realizeaz politica monetar, valutar i de credit a statului, i un numr de banci comerciale, bnci de afaceri, instituii de credit specializate: uniuni de credit, case de economii, organizaii de mprumut, bnci ipotecare etc. Sistemul bancar este un ansamblu coerent de institutii bancare, ce funcioneaz ntr-o ar, rspunznd necesitilor unei etape de dezvoltare social-economic. n anul 1991, conform legislaiei, n Republica Moldova a fost format un sistem bancar pe dou niveluri, n care BNM ndeplineti funcia de Banca Central, dar nu este angajat n activitatea bancar comercial. Aceste legi includ elemente orientate spre ntrirea rolului Bncii Naionale n elaborarea i implementarea politicii monetare i valutare i spre o activitate sigur i durabil a sistemului financiar. Sistemele bancare din rile dezvoltate se caracterizeaz printr-o serie de trsturi, dintre care rein atenia urmtoarele: diversitate, concentrare, bancarizarea activitii, accelerarea operaiunilor de restructurare, deschiderea ctre relaiile cu strintatea. Diversitatea unui sistem bancar rezid n existena unui numr sporit de instituii bancare i de credit definite de legea bancar i ale cror caracteristici pot fi diferite. ntr-un sistem bancar se regsesc att instituii specializate ntr-un anume tip de clientel sau activiti, ct i bnci cu activitate universal. n funcie de dimensiunea bncilor, un sistem bancar poate cuprinde bnci de mic dimensiune precum i bnci de dimensiune internaional. O varietate de situaii se poate ntlni i n funcie de natura furnizorilor de capital, n sensul c acesta poate fi de natur public sau privat iar acionarii pot fi rezideni sau nerezideni. Un alt factor de difereniere a instituiilor bancare l reprezint coexistena unor organisme cu personalitate juridic foarte diverse: societi anonime, societi de persoane, societi cooperative. Concentrarea activitii bancare

Legal framework - consisting of all regulations which lead the activity; The banking system is organized having as referential axes the Central Bank, which realize the monetary, currency and credit policy of the state, and a number of commercial banks, business banks, specialized credit institutions: credit unions, savings, loan organizations , mortgage banks, etc.. The banking system is a coherent set of banking institutions, operating in a country, corresponding to the needs of socio-economic development stages. In 1991, according the law, in the Republic of Moldova was formed a two-tier banking system, where the National Bank of Moldova shall act as the Central Bank, but it is not engaged in commercial banking. These laws include elements aimed to strengthen the role of the National Bank in developing and implementing the monetary and exchange rate policy, and for creating a safe and sustainable business financial system. Banking systems of developed countries are characterized by a number of features, from which we have to mention: diversity, concentration, banking activity expansion, accelerating the restructuring operations, opened to external relations with other countries. The diversity of the banking system lies in the existence of an increasing number of banks and credit institutions defined by the banking law and whose characteristics can be different. A banking system could include as specialized agency specialized in a particular type of clientele or business, as banks with universal activity. Depending on the size of banks, a banking system may include both small-scale banks and banks of international dimension. A variety of situations may occur depending on the nature of capital providers, meaning that it can be of public or private nature and the shareholders are residents or nonresidents. Another differentiating factor is the coexistence of banking organizations with very different legal personality: limited liability company, incorporated partnerships, cooperative societies. The concentration of banking activity is a 2

reprezint o caracteristic ce poate fi cuantificat prin ponderea deinut de principalele bnci n totalul sistemului bancar i prin diminuarea numrului de bnci n totalul acestora. Gradul de concentrare este apreciat prin nivelul activitii (distribuire de credite, colectare de depozite) realizate de instituii bancare i de credit. Studiile evideniaz c un numr redus de bnci controleaz, n mare parte, piaa bancar. ntre gradul de concentrare a activitii bancare i numrul instituiilor bancare se manifest o puternic legtur, astfel: pe msur ce numrul bncilor se diminueaz gradul de concentrare bancar sporete. Un fenomen de dimensiuni mondiale l constituie, n contextul globalizrii financiare, criza sistemelor bancare. La originea crizelor bancare s-a aflat un factor ce poate fi definit astfel: adaptarea cu dificultate la globalizarea financiar, respectiv manifestarea a o serie de fenomene n toate rile, care au vizat urmtoarele aspecte: amploarea i rapiditatea modificrilor n materie de reglementri i mediu de activitate; criza pieelor mobiliare; carenele n exercitarea controlului i supravegherii prudeniale. Crizele succesive care s-au manifestat n ultimele dou decenii au evideniat insuficiena procedurilor de supraveghere i control asupra expunerii la risc a bncilor. 10.2 Funciile Bancilor Centrale Obiectivul bncilor centrale a evoluat de-a lungul timpului. Astfel, n perioada etalonului aur, obiectivul a fost formulat n termenii convertibilitaii metalice; ulterior, prin erodarea rolului aurului ca etalon al valorii, obiectivul bncii centrale a fost reformulate n termeni de stabilitate a preurilor. Alturi de acestea, obiectivele intermediare au przentat o mare variabilitate, ns, indiferent de modificrile n formularea obictivelor, bncile centrale au acceptat idea c stabilitatea monetar constituie o contribuie important la stabilitatea financiar. Si, de asemenea, rolul lor a evoluat o dat cu dezvoltarea sistemului financiar. De remarcat c banca de emisiune, prin importana activitaii sale privind determinarea

feature that can be measured by the share held by major banks in total banking system and by reducing the number of banks in total. The degree of concentration is assessed by the activity (distribution of loans, collection of deposits) made by banks and credit institutions. Studies show that a few banks mostly control banking market. Between the degree of concentration of banking activity and the number of banking institutions there is a strong connection, as follows: as the number of banks is decreasing the level of bank concentration increases. A global phenomenon, in the context of financial globalization, is the crisis of banking systems. The origin of banking crisis represented a factor that can be defined as: difficult adaptation to financial globalization, which respectively sets a series of phenomena that take place in all countries, which endorsed the following aspects: - The magnitude and rapidity of changes in regulatory and business environment; - Crisis of securities markets; - Deficiencies in controlling and prudential supervision. Successive crises that occurred in the last two decades have highlighted the inadequacy of procedures for monitoring and control of risk exposure of the banks. 10.2 Functions of Central Banks The Central Banks objectives evolved over time. Thus, during the gold standard, the goal was formulated in terms of metal convertibility, and thereafter by the erosion of the role of gold as a standard of value, central banks objectives were reformulated in terms of price stability. Near to these, intermediate objectives presented a wide variety, but, regardless to the changes in formulating the objectives, central banks accepted the idea that monetary stability significantly contributes to the financial stability. And also, their role has evolved with the development of the financial system. Note that the issue bank, through the importance of its work on determining monetary situation at micro and macro level, by the influence they may have on other 3

strii monetare la nivel micro i macroeconomic, prin influienele pe care le poate exercita asupra celorlalte instituii financiar-bancare i asupra economiei, n general, deine o poziie prioritar n cadrul oricrui sistem bancar.

financial and banking institutions and over the economy in general, has a prior position in every banking system. Functions of the central banks In a market economy, issue banks have the following functions: Issue function; Funciile bncilor centrale State bank, of the administration and public ntr-o economie de pia, bncile de emisiune services; ndeplinesc urmtoarele funcii: Bank of the bank function; Funcia de emisiune; Center office and foreign reserve Funcia de banc a statului, a administraiei i a management function; serviciilor publice; Prudence and surveillance function; Funcia de banc a bncilor; Occasional economic functions; Funcia de centru valutar i de gestionare a rezervei valutare; Issuing function Funcia prudenial i de supraveghere; Funcii economice ocazionale; Decisional stage in the issuing banks development was regulating by the state the Funcia de emisiune issue system and especially the establishment Etapa hotrtoare n dezvoltarea of monopoly on the issue by assigning the bncilor de emisiune a fost reglementarea de privilege to some banks and finally to one bank ctre stat a sistemului de emisiune i mai ales or banks under a federal system. instituirea monopolului asupra emisiunii prin Currently central bank has the sole right to atribuirea acestui privilegiu unor bnci i, n issue currency as legal way of payment, is the final,unei singure bnci sau unor bnci only having the right to establish the nominal ncadrate ntr-un sistem federal. value, size, weight, design and other features n present banca central deine dreptul of banknotes and coins. Under the same right, exclusive de a emite nsemne monetare ca the central bank assures the printing of mijloace legale de plat, este singuara n drept banknotes, minting of metal coins and their s stabileasc valoarea nominal, dimensiunile, withdrawal, and the destruction of withdrawn greutatea, desenul, precum i alte caracteristici coins. The central bank may cancel or ale bancnotelor i monezilor. n virtutea withdraw from circulation any banknotes and aceluiai drept, banca central asigur tiprirea coins that were issued and, instead, putting into bancnotelor, baterea monezilor metalice i service of other types of coins. punerea lor n circulaie, precum i retragerea To prevent the issuance of money without i distrugerea nsemnelor monetare retrase. De coverage, by statute shall be required to settle asemenea,banca central poate dispune cash in circulation, issued by Central Bank, anularea sau retragerea din circulaie a oricror over the level of international reserves, to be bancnote sau monede metalice care au fost entirely covered by government securities held emise i, n locul acestora, punerea n circulaie in investment portfolio, through assets a altor tipuri de nsemne monetare. resulting from credits offered to banks and Pentru a preveni emiterea de moned other legal bodies granted under the law, or by fr acoperire,prin statut se stabilete obligaia checks, drafts and other debt securities ca trana de numerar aflat n circulaie, emisa expected or held in portfolio. de BC, peste nivelul rezervelor internaionale, s fie acoperit integral prin titluri de stat deinute n portofoliul de investiii, prin active rezultate din credite acordate bncilor i altor personane juridice, n condiiile legii, sau prin State bank, Bank of the administration and cecuri, cambia i alte titluri de credit scontate public services Function sau deinute n portofoliu. 4

Funcia de banca a statului, a administratiei publice i a serviciilor publice Aceast funcie reflect sarcina bncii de a deine i a administra conturile statului, ale cror solduri figureaz n pasivul bilanului. Bncile de emisiune, prin unitaile de trezorrie, sunt n general casierul statului, n conturile lor, la nivel central, reflectndu-se execuia bugetului de stat. Totodat, statul este pentru banca de emisiune unul dintre principalii beneficiari de credite.Titlurile de credit emise de ctre stat n postura sa de debitor (bonuri de tezaur, titluri de rent, obligaiuni) ocup un loc important printre activele bncilor de emisiuni. n afara acestor diferenieri n gestionarea depozitelor i plilor publice, banca central joac un rol direct sau indirect n finanarea statului sau administraiei publice. De asemenea, BC finaneaz statul, direct sau indirect, prin achiziia de titluri publice pe piaa de open- market. Datorit interveniilor de finanare direct sau indirect, bncile centrale ndeplinesc rolul esenial de consilier i realizator al emisiunilor de titluri pentru contul statului. Astfel, BC organizeaz sindicate pentru achiziii de mprumuturi, administreaz datoria public i plata anual a dobnzilor la titluri de stat, toate aceste atribuiuni atestnd, ntr-o msur considerabila, funcia de banca a statului.

This function reflects the task of the bank to hold and manage state accounts, whose balance is reflected in the liability side of the balance sheet. Issue banks by treasury units are generally "the cashier" of the state, in their accounts at the central level, reflecting the implementation of the state budget. At the same time, the state is for the bank one of the main beneficiary of credits . State credit titles issued in its debtor position (treasury bills, bonds of rent, bonds) represent an important part of the issuing banks assets. In addition to these differences in management and payment of public deposits,the central bank plays a direct or indirect role in funding the state or government. Also, the central bank finances the state, directly or indirectly, through purchase of government securities on markets of "open market". Thanks to assistance to direct or indirect funding, central banks meet the essential role of adviser and issuer for state securities. Thus, central bank organizes unions for purchase loans, administers public debt and annual payment of interest for government securities, all these attributions attesting to a considerable matter, the bank of the state function.

Bank of the banks function This function combines three activities, linked between them, executed by the central Funcia de banc a bncilor bank Aceasta funcie reunete trei activiti, srtns Each bank of the 2nd rank has an account at legate ntre ele, pe care le desfaoar banca the central bank, which cannot be charged, and central. on which can be realized interbanking transfers 1. fiecare banc de rang secundar are un cont la and compensations. banca central, care nu poate fi debitor, i pe If in the process of compensation some banks baza caruia pot fi realizate viramente i need refinancing, then central bank may, under compensri interbancare. certain conditions, provide the necessary 2. dac n procesul compensrilor, anumite resources, fueling monetary market. Can occur bnci au nevoie de refinanare, atunci banca situations where central bank can absorb cenral poate , n anumite condiii, s furnizeze liquidities from the market, if it is considered resursele necesare, alimentnd piaa monetar. they are in surplus. Se poate manifesta i situaia n care BC poate Central bank should use monetary market absorbi lichiditi de pe pia, dac se interventions to maintain weight and monetary consider ca acestea sunt n surplus. rate within the limitations fixed by monetary 3. BC trebuie s utilizeze interveniile pe piaa authorities. monetar pentru a menine masa monetar i rata dobnzii n limitele fixate de ctre Monetary policy represents all means used by autoritatea monetar monetary authorities of each country to reach 5

Politica monetar reprezint ansamblul mijloacelor utilizate de ctre autoritile monetare din fiecare ar pentru atingerea obiectivelor monetare fixate. n unele ri, politica monatar este considerat, n exclusivitate, un mijloc de meninere a stabilitii preurilor i de lupt contra inflaiei, iar n altele se apreciaz c trebuie s acompanieze politica bugetar n reglementarea creterii economice. Funcia de centru valutar i gestionar al rezervelor valutare Sub aceast denumire este desemnat o tripl funcie a bncii centrale: Asigurarea ,singur sau la concuren cu bncile de rang secundar, a schimbului de moned naional n devize; Pstrarea i gestionarea rezervelor valutare; Supravegherea ratei de schimb a monedei naionale. Banca de emisiune, ca centru valutar al rii, dobndete atribuii pe linia aplicrii politicii valutare a statului sub forma unor restricii valutare (a contingentrii importurilor i controlul plilor n devize, a prelurii unei pri din ncasri valutare din exporti) sau aplicrii unor stimulente la export de genul primelor la export, al subvenionrii axportului. Funcia prudenial i disciplinar Prin funcia disciplinar este neleas exercitarea controlului asupra bncilor i instituiilor de credit, n scopul asigurrii securitii depozitelor si al prevenirii falimentelor bancare. Cmpul de aplicare al acestei funcii este urmtorul: autorizarea exercitrii activitii bancare, crearea i transformarea bncilor; concentrarea i divizarea riscurilor bancare lichiditatea i solvabilitatea bancar Funcia economic Toate funciile precedente ale bncii centrale presupun i o implicare economic a acesteia. Astfel, atunci cnd se realizeaz emisiunea monetar, sau se supravegheaz cursul valutar sau rata de schimb, sau atunci cnd se intervine pe piaa monetar, pentru a influena rata dobnzii, bncile centrale ndeplinesc i o funcie economic.

set monetary goals. In some countries, monetary policy is considered exclusively a mean of keeping prices stable and fight against inflation, while in others it is considered that there should accompany budgetary policy in regulating economic growth. Center office and foreign reserve management function Under this name is represented a triple function of central bank: Ensure, alone or competing with secondary banks ranking, in exchange of national currency ; Storage conditions and management of foreign reserves; Monitoring the currency exchange rate. Bank of issue, as an exchange center of the country, acquires powers in line applying foreign policy of the state in the form of currency restrictions (the quota of imports and control of currency payment, taking currency parties from collections of export) or applying export incentives like the export bonuses, or export subsidies .

Prudence and surveillance function Through surveillance function is understood exercising control over banks and credit institutions in order of assuring security of bank deposits and prevent bankruptcies. Scope of this feature are: - Authorization banking activity, creating and transformation of banks; - Concentration and bank risk division - Bank liquidity and solvency The economic function All previous functions of the central bank require the economic implication of it. Thus, when realizing monetary issuance, or supervising exchange rate or exchange rate, or when intervening on the monetary market comes in order to influence interest rates, central banks meet also the economic function. 10.3 Commercial banks - role, functions, 6

operations 10.3. Bncile comerciale rol, funcii, operaiuni Rolul bncilor n cadrul unei economii poate fi analizat, n primul rnd, prin utilizarea conceptului de intermediere ntre agenii debitori i creditori din economie, iar n al doilea rnd prin funciile tradiionale de finanare, de colectare a depozitelor i de gestionare a mijloacelor de plat. Pentru a evidenia rolul bncilor, este necesar situarea acestora n cadrul sistemului financiar, al cror element principal l constituie. Pe plan financiar, exist la nivelul unei economii, dou categorii de participani, ale cror preocupri sunt complementare, respectiv cei care au necesiti de finanare i care doresc procurarea de resurse, pe de o parte, i cei cu capaciti de finanare i care doresc plasarea eficient a resurselor lor. Funcia sistemului financiar este de a asigura interfaa dintre agenii excedentari i cei deficitari. Pornid de la acest dublu rol, i de la calitatea lor de intermediar, bncile ndeplinesc 3 funcii importante: Constituirea de resurse prin atragerea disponibilitilor temporale ale clienilor Utilizarea, respectiv plasarea acestor resurse prin acordri de credite. Asigurarea mecanismului de funcionare a plilor prin efectuarea de viramente i pli n numerar. Procedura de creare a bncii Banca Naional este investit cu dreptul exclusiv de a elibera autorizaii bncilor. Suma minima subscris i depus n capitalul bancii se stabileste n cuantum de 100 de milioane de lei. Pentru eliberarea autorizaiei de a desfura activiti financiare se depune la Banca Naional, n modul stabilit de ea, o cerere scris, la care se anexeaza: a) date despre calificarea i experiena administratorilor viitoarei instituii financiare, activitatea lor profesional din ultimii 10 ani; b) date despre capitalul viitoarei bnci care se prevede sa fie pltit; c) business-planul viitoarei bnci cuprinzind structura organizatoric, tipurile de activiti The role of banks in the economy can be analyzed, first by using the concept of intermediation between borrowers and lenders in the economy, and secondly through the traditional functions of funding, collection of deposits and management of means of payment. To highlight the role of banks, they should be placed within the financial system, whose main element is. Financially, there are in the economy, two categories of participants, whose interests are complementary, that those who need funding and willing availability of resources , on one hand, and those seeking financing and capacity placement of their resources efficiently. Financial systems function is to provide "interface" between excess agencies and the deficit ones. Taking into consideration this double function, banks, as intermediaries, have 3 important functions: 1. To build up resources by attracting temporary reserves of clients 2. To use and place these resources through granting credits 3. To assure the mechanism of functioning of payments through transfer or cash payment. The procedure of bank creation The National Bank has the exclusive right to issue licenses to commercial banks. The minimum amount subscribed and paid in the banks capital equals to 100 mln lei. Licenses for financial activities shall be applied for in written form at the National Bank with the attachment of the following information: Information about the qualification and experience of the administrators of the future financial institution including the professional activity for the past 10 years. Information on the expected paid in capital of the proposed financial institute The business plan of the future bank including: organizational structure, types of planned financial activities, forecast of the financial 7

financiare preconizate, pronosticul rezultatelor financiare pentru urmtorii 3 ani etc.; d) informaii privitoare la numele (denumirea), domiciliul (sediul), activitatea comerciala sau profesional din ultimii 10 ani i cota de participare a fiecrei persoane care intenioneaz s dein 10% sau mai mult din aciunile cu drept de vot ale bncii. n scopul aplicrii acestei prevederi asupra persoanelor afiliate, cota de participare a acestora se stabileste prin agregarea cotelor lor; e) orice alte informatii prevazute de regulamentele Bancii Nationale. Cererea de eliberare a autorizaiei pentru filialele i sucursalele unei bnci strine se depune de ctre aceasta n modul stabilit prin regulamentele Bncii Naionale. Dup aprobarea preliminar a cererii, Banca Naional stabilete urmtoarele cerine pentru primirea autorizaiei: a) depunerea capitalului iniial, care nu trebuie s fie mai mic dect capitalul minim necesar; b) angajarea de specialiti; c) ncheierea de contract cu o firm de audit; d) nchirierea sau cumpararea de utilaj pentru efectuarea operaiunilor bancare i de edificii bancare. Dac n decursul unui an banca nu ndeplinete cerinele enumerate, aprobarea preliminar a cererii se anuleaz. Dac cerinele enumerate sunt satisfcute, Banca Naional elibereaz autorizaia n termen de o luna. Bncile pot desfura, n limita autorizaiei acordate, urmtoarele activiti: a) acceptarea de depozite (pltibile la vedere sau la termen etc.) cu sau fr dobnd; b) acordarea de credite (de consum i ipotecare, factoring cu sau fara drept de regres, finanarea tranzaciilor comerciale, eliberarea garaniilor i cauiunilor etc.); c) mprumutarea de fonduri, cumprarea ori vnzarea, n cont propriu sau n contul clienilor (cu excepia subscrierii hrtiilor de valoare), de: - instrumente ale pieei financiare (cecuri, cambii i certificate de depozit etc.); - futures i optioane financiare privind titlurile de valoare i ratele dobnzii; - instrumente privind rata dobnzii; - titluri de valoare; d) acordarea de servicii de decontri i ncasri;

results for the following 3 years, ect. Information regarding the name, residence (headquarter), business and professional history for the past 10 years and the share of each person that intends to own an equivalent of 10 % or more of the shares which provides the right to vote (common shares). For applying this measure upon affiliated persons, the participation share of these is established through aggregation of their shares. Other information stipulated by the regulations of the National Bank. The request for license issuance for branches and subdivisions of a foreign bank is applied according to the regulations of the National Bank. After the preliminary approval of the request, the National Bank establishes the following conditions for receiving the authorization: depositing of the initial capital which can not be less than the minimum required capital hiring of specialists signing an agreement with an auditing firm purchasing or leasing the equipment and fixed assets for performing banking operations and bank building. If within one year, the bank doesnt satisfy the above mentioned requirements, the preliminary approval of the request is canceled. If the described requirements are satisfied, the National Bank of Moldova will issue the license within one month. Banks can carry on, within the authorization received, the following activities: Accept deposits ( current and time deposits) with or without interests Grant credits (consumption credits and mortgage, factoring with or without regression, financing of commercial transactions, to issue guaranties and cautions ect) Lend funds , buy or sell, on their own behalf or on the behalf of the clients (except the subscriptions of securities), of : -financial market instruments (checks, bills and certificates of deposit ect) -financial features and options regarding securities and interest rates -instruments regarding the interests rates -securities 4. Provide services of payment and receipts of 8

e) emiterea i administrarea instrumentelor de plat (cri de credit sau de plat, cecuri de voiaj, cambii bancare etc.); f) cumprarea i vnzarea banilor (inclusiv a valutei strine); g) leasing financiar; h) acordarea de servicii aferente la credit; i) acordarea de servicii ca agent sau consultant financiar, cu exceptia celor de la lit. a) si b); j) operaiuni n valut strin, inclusiv contracte futures de vnzare a valutei strine; k) acordarea de servicii fiduciare (investirea i gestionarea fondurilor fiduciare), pstrarea i administrarea hrtiilor de valoare i altor valori etc.; l) acordarea de servicii de gestionare a portofoliului de investiii i acordarea de consultaii privind investiiile; m) subscrierea i plasarea titlurilor de valoare i aciunilor, operaiunile cu aciuni; n) orice alt activitate financiar permis de Banca Naional.

money. 5. Issue and administrate instruments of payment (payment and credit card, travel checks and bank bills) 6. Buy and sell money, including foreign currency. 7. Financial leasing 8. Provide credit reference services 9. Provide services as an agent or financial consultant except those mentioned above in the point 1) and 2) 10. Executing foreign currency operations including future contracts of selling foreign currency 11. Provide trust services (investment and administration of funds received in trust), safe keeping and administration of securities and other valuables. 12. Provide services as an investment portfolio manager and investment advisor 13. Underwriting and distribution of shares and securities, operations with shares 14. Any other financial activity permitted by the National Bank. Operations of commercial banks There is a strong interdependence between active and passive operations (asset operations and liability operations) of commercial banks. The structure and nature of liability operations characterize mostly the possibility of the banks to perform asset operations and, at the same time, the change of the policy of the banks in the sphere of crediting can influence Operaiunile bncilor comerciale: essentially the nature of resources. Still, from ntre operaiunile pasive i cele active ale historical point of view, liability operations had bncilor comerciale exist o interdependen priority over asset operations, because for puternic. Structura i caracterul pasivelor performing asset operations a mandatory determin n mare msur posibilitile bncii condition is the sufficiency of financial de a efectua operaiuni active i, n acelai resources. timp, schimbarea politicii bncii n domeniul Liability operations are operations that bring creditrii poate influena esenial caracterul out modifications in the liability side of the resurselor. i totui, din punct de vedere banks balance sheet and are characterized by istoric, operaiunile pasive aveau un rol bank resource formation both own resources prioritar fa de cele active, deoarece pentru and attracted one. The essence of these types of efectuarea operaiunilor active o condiie operations is attracting different types of obligatorie este suficiena resurselor financiare. deposits , receiving credits and loans from the National Bank and other commercial banks, Operaiunile pasive reprezint operaiuni care receiving loans from international financial provoac modificri prin pasivul bilanului institutions, issuance of own securities and bancar i se caracterizeaz prin formarea performing other operations which increase the resurselor bancare att a celor proprii, ct i a volume of bank resources. resurselor atrase. Esena acestui tip de According to their origin, financial resources 9

operaiuni const n atragerea diferitor tipuri de depozite, primirea creditelor i mprumuturilor de la alte bnci comerciale i de la Banca Naional, primirea mprumuturilor de la instituiile financiare internaionale, emisiunea valorilor mobiliare proprii, precum i realizarea altor operaiuni n rezultatul crora se majoreaz volumul resurselor bncii. Dup sursa de provenien a lor, resursele financiare ale bncilor comerciale se clasific n dou categorii mari: 1. capital propriu (resursele proprii); 2. capital mprumutat (resursele atrase). Dei ambele componente sunt diferite ca structur i ca rol, ambele servesc la finanarea proiectelor bancare i se afl ntr-o interconexiune: existena capitalului propriu garanteaz rambursabilitatea capitalului mprumutat. Mrimea capitalului propriu condiioneaz existena i volumul capitalului atras. Capitalul normativ total include suma capitalului de gradul nti i a capitalului de gradul doi, minus cotele de participare n capitalul altor bnci care dein autorizaia Bncii Naionale a Moldovei. Capitalul de gradul nti este componenta de baz a capitalului normativ total, care include suma dintre aciunile ordinare aflate n circulaie, aciunile prefereniale cu dividende nefixate i aciunile prefereniale cu dividende fixate necumulative emise cu termen nelimitat, surplusul de capital i profitul nedistribuit minus mrimea necompletat a reducerilor pentru pierderi de la credite (fondul de risc) i leasing financiar. Capitalul de gradul doi este componenta suplimentar a capitalului normativ total i include suma aciunilor prefereniale cumulative i parial cumulative cu scaden nefixat, surplusul de capital atribuit aciunilor prefereniale cumulative i parial cumulative, datoriile subordonate minus mrimea sumei termenilor enumerai mai sus ce depesc mrimea capitalului de gradul nti. Suma minima subscrisa si depusa n capitalul bancii se stabileste de BNM n cuantum de 100 de milioane de lei. Premisele majorrii capitalului iniiate de Banca Naional a Moldovei au fost alinierea la standardele internaionale i lichidarea unor bnci slabe cu un capital

of commercial banks can be classified in 2 big categories: owners equity liabilities Although both components are different as structure and role, they are both used for financing banking projects and both are interconnected: the existence of owners equity grants the reimbursement of borrowed capital. The amount of owners equity conditions the existence and the volume of attracted capital. Total regulatory capital includes the sum of tier one capital and tier two capital minus the participation quotas in the capital of other banks that have the authorization of the National Bank of Moldova. Tier one ca capital is the basic component of total regulatory capital, which includes sum of: Common shares Preferred shares with unfixed interest Preferred non-cumulative shares with fixed interest issued for an unlimited term Surplus of capital and non-distributed profit minus the incomplete amount of decrease for losses from credits (risk fund) and financial leasing Tier two capital is the supplementary, auxiliary component part of total regulatory capital and it includes the sum of: Cumulative and partial cumulative preferred shares with unfixed due date Surplus of capital regarding cumulative and partial cumulative preferred shares Subordinated debts minus the sum of above mentioned terms which overcome the amount of tier one capital. The minimum sum subscribed and deposited into the capital of the bank is established by the National Bank of Moldova in the amount of 100 mln lei. The premises of capital increase initiated by National Bank of Moldova have been the alignment to international standards and the liquidation of weak banks with an insufficient capital which could danger the viability of the entire banking system. These strict regulations also derive from the major importance of equity capital and of the functions it performs: Equity protects depositors in case of bank 10

insuficient, care ar putea pune n pericol viabilitatea de ansamblu a sistemului bancar. Aceste reglementri stricte deriv i din importana major a capitalui propriu i a funciilor pe care le ndeplinete: capitalul propriu protejeaz deponenii n cazul insolvabilitii bncii; absoarbe pierderile neanticipate i asigur stabilitatea n cazul situaiilor problematice, astfel se creaz o perioad de timp pentru ca banca s-i reorganizeze activitatea; capitalul propriu servete o prghie prin intermediul creia autoritatea monetar reglementeaz activitatea bancar. Operaiunile active reprezint pentru bncile comerciale operaiunile de utilizare a resurselor mobilizate de ctre instituiile bancare sub forma atragerii de depozite, a contractrii de mprumuturi sau din alte surse n vederea ndeplinirii funciilor specifice. Aa cum se cunoate, o banc are un volum de capital redus n raport cu totalul pasivelor sale, aa nct plasamentele efectuate vor fi corelate cu resursele pe termen scurt, mediu i lung atrase. Pentru a nregistra profit bncile trebuie s utilizeze ct mai eficient resursele atrase, astfel nct plasarea lor s se efectueze la rate active de dobnd mai nalte dect cele pltite. La nivel agregat, eficiena este dat de o diferen pozitiv ntre plasamente i resurse, respectiv ntre dobnzile ncasate (active) i cele plasate (pasive). Putem concluziona c unul dintre obiectivele managementului bancar este meninerea pe ansamblu a unui raport supraunitar ntre dobnzile la utilizri i cele la resursele constituite.

insolvability; It absorbs the unpredictable losses and assures the stability in case of problematic situations , in such a way creating a period of time in which the bank could reorganize its activity Equity serves as means through which the monetary authority regulates the activity of the bank. Asset operations represent for commercial banks- the operation of use of mobilized resources by the banking institutions under the form of deposit attracting, raising loans or other sources with the purpose of performing specific functions. As known, a bank has the volume of capital less than its total liabilities, so that investments (placements) made will be correlated with the short, medium and long term attracted resources. For registering a profit, banks have to use in the most efficient way their attracted resources, so that their investment (placement) could be executed at active interest rates higher than those paid. At the aggregate level, the efficiency is provided by the positive difference between the investments and resources, and respectively between the collected interests rates (active) and placed interest rates (passive). We can conclude that one of the objectives of the banking management is to maintain an overall supra-unitary rapport between the interest in use and those in continuing resources.

The main asset operations of the banks are: Cash on hand Current accounts and deposits in other commercial banks Principalele operaiuni active ale bncilor sunt: Current accounts opened at the central disponibilul aflat n casierie; bank conturile curente i depozitele plasate la Treasury securities and other securities alte bnci comerciale; owned by the bank conturile curente deschise la banca loans of different categories central; lease receivables; titlurile de trezorerie i alte titluri equity; deinute de banc; tangible; creditele de diverse categorii; goodwill; creanele din leasing; intangible assets; titlurile de participaie; Other categories of assets. imobilizrile corporale; fondul de comer; 11

imobilizrile necorporale; alte categorii de active.

Acte legislative 1. Legea cu privire la instituiile financiare, 550-XIII de la 21 iulie 1995 2. Legea cu privire la Banca Naional a Moldovei, 548-XIII de la 21 iulie 1995 3. Regulamentul cu privire la autorizarea bncilor nr.23/09-01 din 15 august 1996. 4. Regulament cu privire la deschiderea filialelor de ctre bnci nr 37/09-01 din 15/11/1996 Manuale, monografii 1. Alexandru Olteanu Management bancar, Editura Dareco Bucureti, 2003 2. Alexandru Olteanu, Florin Manuel Olteanu, Leonardo Badea Management bancar. Caracteristici. Strategii. Studii de caz.,Editura Dareco, Bucureti,2003. 3. Alexandru Olteanu, Mdlina Antoaneta (Olteanu) Rdoi Politici i strategii naionale i comunitare n domeniul financiar-bancar, Editura Dareco Bucureti, 2005 4. 5. Alina Bratu, Moned, credit, bnci, editura Ex Ponto, Bucureti,2005; Aurelian Alexandru, Paul Berea, Bncile. Modernizarea sistemului bancar, editura Expert, Bucureti 2003;

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