The structures assessing the stability of the financial system in Albania are:
The Financial Stability Department
In order to accomplish the Bank of Albania’s role in preserving the stability of the financial system, The Supervisory Council of the Bank of Albania with the decision No.52, date 26.09.2007, has approved the creation of the Financial Stability Department. The aim of this department is the assessment of the stability of the financial system, through the implementation of different methods and analyses, in which the type and the size of the systemic risks endangering the financial system and its infrastructure is assessed, as a result of the developments in the financial markets and their participants.
In the achievement of its aim, The Financial Stability Department gathers and analyses data, and prepares information related to the assessment of the main risks of the financial sector, proposes to the administrators of the Bank of Albania, The Advisory Committee of the Financial Stability and the supervisory Council the necessary actions, and prepares for publication documents which contain the stance of the Bank of Albania to the issues of the financial stability.
The main periodical products published by the Financial Stability Department are:
More on FSD (only in Albanian)
The Advisory Comittee of the Financial Stability
With the decision No.79, date 12.12.2007, The Supervisory Council has approved the creation of the Advisory Committee of the Financial Stability (ACFS). The Advosory Committee, through its activities, aims at improving continuously the quality of the analysis and decision-making of the Bank through the counseling of its governing structures for issues that relate to the financial stability.
The Committee, in compliance with its aim, exercises the functions mentioned below:
investigates and assesses continuously the policies of the Bank related to the financial stability and banking system supervision, the situation of the stability of the financial system and the actions of the Bank and other responsible authorities for its preservation, the levels of risk in the financial system and the necessary measures for its management;
formulates recommendations for the Supervisory Council and for the administrators of the Bank, for issues related to the financial stability and on necessary actions, through the presentation of the conclusions of its meetings;
in this framework harmonises the role and actions of the Bank with other institutions.
More on ACFS (only in Albanian)
The Financial Stability Advisory Group
The Financial Stability Advisory Group (FSAG) is established compliant to stipulations of Article 30 of Law No 9572, dated 03.07.2006 “On Financial Supervisory Authority”. The members of the FSAG are the Minister of Finance (who chairs the FSAG meeting), the Governor of the Bank of Albania and the Chairperson of the Financial Supervisory Authority Board. Upon the invitation of the FSAG, other persons may attend its meetings.
The FSAG is an advisory body, which according to article 30, paragraph 3 of the above-mentioned law, “
assists in the protection, stability and development of financial markets in the Republic of Albania”.
On March 2014, members of FSAG along with the Director General of the Deposit Insurance Agency, approved the changes of the
Memorandum of Understanding
(of February 2012), in order to better focus and support the work of FSAG on financial stability matters. In this regard, the work of the FSAG will be focusing on prevention and management of systemic risks to the financial system.
FSAG Press releases