I have set up moderation of forum. Even if I (dragos) and Victor appear as moderators, we have full admin rights.

Moderators can move, close, split, edit, rename topics, and post sticky and announcements, only in forums they are moderators.

Moderators can technically delete topics in their forums, but we (administrators) forbid this. If a moderator consider that a topic should be deleted, he is asked to inform us. However, I constantly make backups of forum.

I don't know if a moderator can delete specific posts inside a topic, because the info on phpBB comunity is quite confusing on this subject. But even if possible, currently we forbid this.

Moderators cannot ban members.

In future, even if some members eventually reach General rank, administrators decide if they are eligible for moderator.