however, we will not blindly adhere to all recommendations. for example, the imf recommends that we establish a buffer pool to ensure the settlement of securities transactions and retail payments even if the largest participant is not able to settle its payment obligations. danmarks nationalbank finds that the best safeguard is to ensure that participants have easy and flexible access to liquidity, combined with participants'large portfolios of securities that can be pledged as collateral for loans from danmarks nationalbank. the figure shows the largest danish banking institutions ’ maximum net outgoing payments as a ratio of their liquidity reserves in 2005 where on each day the banking institution with the largest payment obligation is excluded from the settlement. the figure shows that danish banks have plenty of liquidity reserves even when the largest bank fails to settle. consequently, we do not currently see any need for special measures to ensure settlement in the danish systems. a third area that we are looking at is situations where the financial system is affected by dramatic external events. these could be acts of terrorism, widespread epidemics, natural disasters or other situations where the financial system threatens to collapse. danmarks nationalbank chairs a task force with participation of the financial supervisory authority and sector representatives that later this spring will present suggestions on how to ensure coordination of the financial institutions'business continuity plans in such situations. finally, danmarks nationalbank acts as lender of last resort to the danish banks. danmarks nationalbank can extend loans to a bank that urgently needs liquidity and cannot procure it in the market, even though the bank is solvent. fortunately, we are rarely called on to do that. should a situation occur where it is necessary to rescue an ailing bank, danmarks nationalbank's position is that a market - based solution should be found. nothing definite can be said beforehand about danmarks nationalbank's role. it would depend on a concrete assessment of the situation and the – direct or indirect – consequences for the danish banking system and danish society. stress testing as i mentioned before, imf visited denmark in connection with its financial sector assessment program. the overall conclusion of the fsap was that denmark's financial systems are resilient and well supervised and that the financial sector shows a high degree of compliance with the international standards. part of the fsap was stress testing based on " bottom - up " and " top - down " approaches. for the bottom - up " approach, the largest banking institutions in denmark were asked by the danish f

of your money ”. this theme highlights the crucial importance of knowledge in an evolving digitalised and innovative market, which enable people to avoid physical contact while using the financial and banking products, hence providing for a better protection of public health. in this view, the bank of albania, as the supervisory and promoter institution of the albanian banking system, in addition to the immediate response to the difficulties created by covid - 19, through a complete package of monetary, supervisory, macro - prudential and operational measures, finds also important the drafting and organisation of educational initiatives, like global money week. through these educational and awareness - raising activities, we aim at approaching the young generation to the complicated world of finance and banking ; to introduce and pass through knowledge on possibilities ; the risks that both financial and banking products have ; as well as introduce the young public to the necessary information on borrowing and savings. this communication and awareness of young people, in turn help both financial and banking markets become more resilient, comprehensive and efficient. 1 / 2 bis central bankers'speeches the bank of albania, has not limited its educational activities only with the global money week. financial literacy of public is an important part of our daily work. thus, through virtual educational tools available at our webpage, students and teachers may learn throughout the year on financial issues, by watching videos and reading the literature dedicated to both the pre - university education and students. our webpage contains simplified information on themes of everyday life, as : the opening of a bank account ; personal budget management, drafting a saving plan ; applying for a bank credit, etc. in addition, for those who opt for deeper information and knowledge, our website provides didactic tools to better understand aspects of economy and finance which affect the life of all citizens, like : what is economic growth ; labour market, circulating flow, how do financial crises spread ; what is competition, etc. also, the elective module “ personal finance in your hands ", from some years now integrated in the high school teaching curricula, introduces to students the world of personal finance, informs and shape their needed skill to manage money in a more profitable way. this textbook is supplied and allocated for free to all high schools which elect to study it. it is accompanied with a guideline to teachers of economy subject. a similar approach has been adopted for younger children. hence, the teaching package tailored for the financial education of pupils in class i, ii and iii of secondary schools, addresses