PRESS RELEASE
Bank of Albania interventions in the money market and foreign exchange market over the second quarter of year 2011

1.1. Open market operations

The money market operations over the second quarter of year 2011 consist of open market operations to supply and withdraw liquidity. The one-week reverse repo agreement was employed, weekly average ALL 15.11 billionfx, as well as the three-month reverse repo agreement, which was used in two cases, at an average ALL 2.5 billion per auction. The overnight repurchase agreement at ALL 0.7 billion was employed on June 23, 2011 to withdraw excess liquidity.

1.2. Standing facilities

The overnight deposit instrument was employed in 19 cases during the second quarter of year 2011, at an average of ALL 0.20 billion, about ALL 0.05 billion higher than in the previous quarter, when this instrument was employed in 19 cases, at an average of ALL 0.15 billion. The use of overnight deposit occurred mainly in 20-23 May 2011 and in 20-23 June 2011 coinciding with the end of the required reserve period. Overnight credit was employed in 13 cases, at an average of ALL 0.23 billion relative to 6 cases in the previous quarter at an average of ALL 0.17 billion. The following chart provides a summary of the Bank of Albania interventions in the money market for the year 2011.