Banking Supervision Annual Report 2001

The new technological developments, financial innovations and national and international market liberalization have changed work conditions of the banks. They have also effected monetary policies and financial sector stability. Banks have also faced the increased competition from non-bank financial institutions. In many cases the banks have reacted to these changes by consolidating and expanding the range of products and services they offer. At the same time, with the consolidation and few differences between banks and non-bank financial institutions and the functioning of the Bank of Albania as the lender of last resort has come stability within the banking system