Cooperation with other authorities
Taking into account the specifics of the overseen entities and their interrelation with financial markets, the banking and financial activity, and the economic activity in general, cooperation and coordination between functions and authorities, is considered as a very important aspect for guaranteeing an efficient oversight.
A close cooperation between the relevant authorities is essential in contributing to an overall risk mitigation strategy and promoting financial system stability.
To meet its legal responsibilities, Bank of Albania:
- at the institutional level - ensures coordination of the activities of its internal units that operate in the fields of payment systems, banking supervision and information technology, thus contributing to the overall risk reduction strategy in the Albanian financial system;
- at the inter-institutional level – enters into agreements with other national or international institutions on Financial Markets Infrastructure oversight, in cases of cross-border activities.