The implementation of European directives: impact on macroprudential supervision of the banking sector and financial stability

One of the major achievements of the Financial Stability Forum was the development, in partnership with the International Monetary Fund and the World Bank, of a key instrument for global financial supervision, namely the Financial Sector Assessment Program.This document, which substantially influences the policies that shape the development of the financial system, focuses on the European regulatory framework, including directives and capital requirements, as well as bank recovery and resolution.As a result, the implementation of European Union directives in the Republic of Moldova is the central pillar of the modernisation and securitisation of the financial sector, directly and profoundly impacting the country's economic stability.The adoption of these directives acts as a protection mechanism against crises and systemic fragility.In this context, the article aims to analyse macroprudential supervision, its impact on financial stability, and the extent to which the Republic of Moldova is prepared to participate in the conceptual framework for the systematisation and implementation of European directives.