Particularităţile supravegherii prudenţiale actuale a sistemului bancar al RM în contextul asigurării securităţii financiare a statului

Abstract

The ability to monitor financial security presupposes the existence of indicators that can be used as a basis for analyzing the current health and stability of the financial system. These indicators comprise both aggregated microprudential indicators of the health of individual financial institutions, and macroeconomic variables associated with financial system soundness. Aggregated microprudential indicators are primarily contemporaneous or lagging indicators of soundness; macroeconomic variables can signal imbalances that affect financial systems and are, therefore, leading indicators. Financial crises usually occur when both types of indicators point to vulnerabilities, that is, when financial institutions are weak and face macroeconomic shocks. It is very important for the Republic of Moldova’s financial system to be monitored and surveyed adequately by the authorities taking into consideration recent global financial crisis. The operation of a financial system is dependent on overall economic activity, and financial institutions are significantly affected by certain macroeconomic developments. Recent empirical analysis has shown that certain macroeconomic developments have often predated banking crises, which suggests that financial system stability assessments need to take into consideration the broad macroeconomic picture, particularly factors that affect the economy’s vulnerability to capital flow reversals and currency crises.