CADRUL JURIDICO-PROCEDURAL DE REZOLUŢIE BANCARĂ
LEGAL AND PROCEDURAL FRAMEWORK FOR BANK RESOLUTION

Summary/Abstract: financial insolvencies have highlighted the fragility of the banking system, which has led to the implementation of a legal rule to protect the stability of the banking system at EU Member State level, by Directive 2014/59/EU establishing a framework for the recovery and resolution of credit institutions and investment firms. Taking into account the economic and financial situation, as well as the pressure to which the authorities of the Republic of Moldova are subject, the Law No 232/2016 on the recovery and resolution of banks was promoted and adopted. Thus, bank resolution is a procedure designed to save all or part of the business of certain banking entities. Bank resolution avoids and bypasses insolvency court proceedings. There is a certain difference between bank resolution and normal insolvency proceedings, namely: the overall objective of the resolution regime is to ensure the rapid resolution of a bank with minimal risk to financial stability. The objectives of resolution are much broader than the objectives of normal insolvency proceedings, which usually focus on the interests of creditors. The resolution regime aims to ensure global financial stability. In such context, the resolution authority would also seek to ensure that no creditor would be disadvantaged in the resolution process, which is not the case in insolvency proceedings.

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