PRESS RELEASE
Decisions by the Supervisory Council, 6 October 2021

On 6 October 2021, in addition to the decision to keep the key interest rate unchanged, at 0.5%, as well as the overnight deposit and overnight loan rates at 0.1% and 0.9%, respectively, the Supervisory Council reviewed and decided to:

• Approve the Regulation “On direct debiting”

 Direct debiting is recognized by banks as a limited instrument used only within the accounts of the same bank. Meanwhile, the purpose of the new regulation is to use this instrument at the interbank level and beyond, without being constrained by financial entities, where the debtor and creditor keep their relevant accounts. This service will function in accordance with the “SEPA Direct Debit” scheme used in the euro area.

The approval of this Regulation fulfils also one of the strategic objectives within the framework of implementing the “Medium-term development strategy of the Bank of Albania 2019-2021” and the “National Strategy for retail payment systems in Albania 2018-2023.”

• Approve some amendments in the Regulation “On the function of Albanian Electronic Clearing House – AECH”

In order to implement the new regulation on direct debiting, the necessary amendments were adopted to the exiting regulation on the function of Albanian Electronic Clearing House – AECH.

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