BANK OF ALBANIA
Press release of the Supervisory Council of the Bank of Albania

The Supervisory Council of the Bank of Albania met today, on 10.09.2014, to analyse in detail and in continuation the developments in financial markets and institutions, as well in the activity of the Bank of Albania.

According to the analysed information, the Supervisory Council considers that the developments in the money, foreign exchange and interbank markets are stable regarding the volume and volatility, in accordance with their seasonal behaviour and historical trends. Operational data from the banking sector reveal a normal performance of the level of deposits and a stable business activity.

The Supervisory Council was informed on the progress of measures that have been taken, and welcomes the efforts made insofar by the management of the Bank of Albania for normalising the situation. In this framework, the Supervisory Council commends and supports the work of the personnel of the central monetary institution.

The Supervisory Council, while deeming that the legal provisions are adequate for conducting the activity of the Bank of Albania even under the current situation, stated the need for the timely organisation of the management of the institution. Moreover, the Supervisory Council draws the attention of the Parliament on the fact that the law does not ensure continuity of the function of the Inspector General, in her absence.

Concluding, the Supervisory Council reiterates its full commitment to responsibly exercise the functions set forth in the law.