The article seeks to define the Moldovan banking system reforms assumed upon signing the Association Agreement, particularly reforms relevant to bank deposit guarantee system. The importance of such a research is proven by concerns in the Republic of Moldova on financial sustainability, after the National Bank has established special administration in three commercial banks, he panic swept the foreign exchange market, while the Moldovan government gives guarantees for “bad loans” of the three commercial banks, on the grounds of protecting depositors assets. The study reviews the bank deposit guarantee systems in the European Union and the Republic of Moldova, as well as Moldova's commitments provided for in the Association Agreement relating to the harmonization of this guarantee system to the European standards. In the end, the article formulates a range of  recommendations whose implementation would accelerate the establishment of a fund to guarantee bank deposits in an effective and sufficient way within a stable banking system, integrated into the European financial system