PRESS RELEASE
Decisions by the Supervisory Council, 3 June 2020

In the meeting on 3 June 2020, the Supervisory Council of the Bank of Albania reviewed and decided to:

• Approve the regulation ''On the functioning of Automated Clearing House System-AECH" and ''On the functioning of Albanian Interbank Payment System-AIPS"

These regulations are an improved version of the existing regulations for the functioning of the interbank payment system for large-value payments and of the automated clearing system for small value payments, as a result of issues encountered in the experience of the Bank of Albania during the operation of these systems, the latest additions to the legal and regulatory framework related to payment activities, compliance with supervisory principles, the national strategy for small value payments, as well as the needs for adaptation and new developments expected in the payment market.

At the same time, the regulations approve the removal of commissions applied on banks for customers' transfer orders in lek, initiated electronically and that are transferred to AIPS and AECH systems, amounting to 20.000 lekë. For these types of payment orders, bank commissions shall not be applied, and for values ​​over 20,000 lekë, bank commissions shall not be more than of 50% of the commissions applied for payments initiated non-electronically.

This amendment comes as a result of a series of analyses and studies, legal acts and strategies developed by the Bank of Albania and discussed and approved together with the banking system through the National Payment System Committee. It aims to support banks' customers and minimize their costs, in line with the Bank of Albania's objectives for reducing physical money (Cash) in the economy.

• Approve the Supervision Annual Report 2019

This report addresses the banking supervision functions, main activities of the Bank of Albania in this field and details the developments in the legal and regulatory framework throughout 2019. The Supervision Annual Report analyses the activity of the banking system and its indicators, and qualitative and quantitative developments of this system in Albania.

The Report will be presented to journalists and subsequently published on Bank of Albania's website.

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