TIRANA, May 26 /ATA/ – The Bank of Albania has expanded its emergency intervention fund to 6.78 billion lek after the local banks made their annual contributions in April.
Central bank said on Monday that after a total of 1.04 billion lek in annual contributions from the banks entered the fund, it is now estimated at 6.78 billion lek.
The fund was launched in 2018 and, administered by the Deposit Insurance Agency, it supports central bank in implementing measures aimed at ensuring financial stability.
The central bank’s target is to increase the emergency intervention fund 8.9 billion lek, which is expected to be achieved by 2027.
The fund was established in 2018, in line with a 2016 law which anticipates banking crisis, involving the provision of financial assistance to banks in near-bankruptcy cases as a last resort.
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