Bank of Albania Governor Gent Sejko and the Head of the Single Resolution Board Elke König held a meeting at Bank of Albania premises in Tirana and discussed about the revision of Bank’s legal framework. The Bank is planning to revise its legal framework in order to improve it in accordance to EU standards in relation to the decision making process for private banks when they are facing financial difficulties.
Governor Sejko declared that Bank of Albania is seeking to improve its legal framework after the recommendations from international partners in this regard, stressing that it is necessary to have the proper legal instruments for the management of difficult situations in the banking system in Albania. Sejko declared that the banking system of the country remains well capitalized and liquid.
In turn, the head of the Single Resolution Board spoke about the institution she represents which is the second pillar of the European Bank Union for providing assistance and support to banks in extraordinary situations. The Single Resolution Board will take power on January 1st, 2016.
During her stay in Tirana capital, König held meetings with the Minister of Finances Shkelqim Cani, the head of the Deposit Insurance Agency and the EU Delegation to Albania ambassador Romana Vlahutin.
News source/photo credits: ATA
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