PRESS RELEASE
Decisions taken by the Supervisory Council of the Bank of Albania, 7 October 2020

In the meeting of 7 October 2020, in addition to the decision to keep the key interest rate unchanged at 0.5%, as well as overnight deposit and overnight loan rates at the Bank of Albania at 0.1% and 0.9%, respectively, the Supervisory Council of the Bank of Albania reviewed and decided:

• Approve the regulation "On the operationalisation of the bail-in instrument and exceptional cases"

This regulation lays down the terms and conditions that the Bank of Albania considers in the implementation of the bail-in instrument through the exercise of the power of impairment and conversion and of exceptional cases from the exercise of this power. At the same time, its drafting completes the regulatory framework of the Bank of Albania pursuant to Law 133/2016 "On the recovery and resolution of banks in the Republic of Albania".

• Approve the regulation "On the organisation and functioning of the Committee for the Resolution Fund", attached to this decision.

This Decision sets forth the rules for the organisation and functioning of the Committee for the Resolution Fund (SRF), which aim at a specialized monitoring of the administration of Resolution Fund financial instruments, as well as the addressing and review of various issues related to it, for the updating of the Fund's administration procedures.

• Exemption from all commissions applied to all accounts with the AFISaR payment system of the Bank of Albania, for the administration of the Resolution Fund.

This exception reduces the financial burden on the Resolution Fund.

The Supervisory Council was also informed on the daily functional and operational activities of the Bank of Albania.