BANK OF ALBANIA

PRESS RELEASE
Supervisory Council decisions, 6 August 2015

Publication date: 06.08.2015

 

In the meeting held on 6 August 2015, the Supervisory Council of the Bank of Albania, in addition to the decision to keep the key interest rate unchanged, analysed and decided as follows:

  • Approved the Quarterly Monetary Policy Report* 

The Monetary Policy Report, which is the main tool for communicating the monetary policy to the public, analyses the latest economic, monetary and financial developments and identifies the factors expected to have an impact on inflation. The Report communicates the judgement of the Bank of Albania on inflation's outlook.

The full monetary policy report will be published in the coming days on Bank of Albania's website. www.bankofalbania.org

  • Approval of the Regulation "On the functioning of the Audit Committee"

The Regulation sets out the scope, objectives, responsibilities and principles guiding the activity and functioning of the Audit Committee, an important instrument in the existing lines of internal and external control, to enhance the quality of governance at the Bank of Albania. 

The Regulation is drafted in line with the relevant international standards and most advanced practices.

  • Approved the Regulation "On transactions with funds in monetary values at the Bank of Albania"

This regulation lays down in a single document all the improved procedures to be followed by commercial banks in the process of transactions with monetary values at the Bank of Albania. 

  • Approved an amendment to the Regulation "On reporting to the Bank of Albania according to the Unified Reporting System"

The Unified Reporting System is the set of templates used by commercial banks to report data and information to the Bank of Albania. The latest amendment to the regulation consists in an additional template, to report data on direct and indirect participants holding no less than 5% in the capital of the reporting bank.

  • Granted the preliminary approval for an additional financial activity by Alpha Bank Albania.

In accordance with the approval, Alpha Bank Albania may conduct the additional financial activity of intermediation in insurance, hence acting as an insurance broker. 

* The report refers to the Monetary policy statement of the Bank of Albania for the first half of 2015.