TIRANA, May 10 /ATA/ – Bank of Albania’s extraordinary intervention fund was increased by 982.1 lek to over 5.6 billion lek after collection of the annual contribution from the commercial banks in April.
Central bank said in a press release that the extraordinary intervention fund was created in 2018 as part of implementation of the Bank of Albania’s intervention instruments. Banks operating in the country pay regular annual contributions to reach the target level of 0.5% of the total liabilities of the banking system.
According to the deadline stipulated by the law, the extraordinary intervention fund should total to a value of 8.5 billion lek within 2027.
After collecting the contribution, the fund reached the value of 5.563 billion lek at the end of April, as a result of the annual contributions of the banks collected in the last seven years.
The Extraordinary Intervention Fund is administered by the Deposit Insurance Agency, in accordance with the fund’s financial assets management policy, which is approved by the Bank of Albania
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