State Securities Market

• The Law on public debt, guarantees and public on-landing no. 419-XVI of 22.12.2006;
• NBM Regulation on the placement, circulation and redemption of state securities in the form of book entries no. 96 of 17.05.2013
• NBM Regulation on book entry system of securities no. 250 of 25.10.2012

The issuance of the SS is carried out by the Ministry of Finance of the Republic of Moldova.

• Treasury bills (T-bills) - SS issued with discount and redeemed at their face value at maturity, with a circulation term of up to one year;
• State bonds (SB) - SS issued for a term of one to five years, which entitle their holders to obtain the face value at maturity and to obtain interest on a semi-annual basis. State bonds may be issued at discount, face value or premium.

• When trading SS, the Bank charges a commission, the value of which depends on the transaction value;
• The maximum volume of SS that may be held by an investor is 50% of the volume of SS with the same ISIN identification number, offered for sale on the primary market or in circulation;
• The Bank is entitled to change the tariffs with any prior notice to the customers;
• The Bank is entitled to charge special and/or additional commissions, the amount of which is determined by the additional work carried out and/or unforeseen circumstances;
• According to Article 20 letter u1) of the Fiscal Code of Moldova, interest on state securities represents a source of non-taxable income;
• Guide of SS Investor.