resources for other sectors with greater potential for economic development. during the 1980s, spain faced a most severe banking crisis that affected a significant proportion of the banks operating in that decade. that crisis, in conjunction with subsequent action, was a sufficiently valuable lesson on how to manage bank crises at the institution i preside over. such experience should be harnessed for the restructuring still to be done. moreover, economic agents are aware that the decisions the banco de espana takes are, as our tradition demands, based solely on expert criteria geared to safeguarding banks'creditors, preserving the stability of the financial system and upholding free - market principles. using the deposit guarantee funds, without prejudice to any additional instruments set in place, will secure the participation of the financial sector in this process. finally, i should not conclude without stressing that the degree of consensus social agents and political forces may reach will be the linchpin to ensuring the success of the restructuring process. it will be a difficult and complex process, and we should all ideally pull together for the benefit of the whole of the spanish economy. thank you.

of its unique function as the issuer of the national currency, the bank of albania continued to fulfil the needs of the economy for banknotes and coins, in accordance with contemporary standards for their quality and security features. compared to 2014, the structure of the currency in circulation has changed. thus, the number of higher denominations, all 2000 and all 5000 increased. also the use of coins increased, as their value rose by 8. 2 %. iii. foreign - exchange reserve management the reserve management continued to be conducted in accordance with the regulatory framework in force. the primary objective of the reserve management is the principle of liquidity and security. in line with our policy and international standards on adequacy, we continued in this year to ensure that the reserves are at adequate levels and in conformity with our goal. year 2015 was characterised by a further decline in negative territory of interest rates for treasury issues in the euro area. thus, for the euro portfolio, the possibilities of investment with a positive rate of return, compared to the previous year, are reduced significantly. regardless of this fact, the result created by the management of the reserve portfolio for 2015 was positive. iv. legal service the improvement of the legal and regulatory framework has been a constant priority for the bank of albania. during the year, the law “ on savings and loans associations ” was drafted, consulted and submitted to the assembly of the republic of albania for review. the law regulates the slas licencing, supervision and activity in accordance with the best standards. in close cooperation with the albanian deposit insurance agency, amendments have been drafted to the law “ on deposit insurance ”, which improve the implementation of the law on slas and include certain categories of legal persons in the deposit insurance scheme. the law on the treatment of banks facing financial difficulties, also known as the resolution law is another important project we have been working on during 2015 and are still working in cooperation with the world bank. significant work has been carried out also with regard to the regulatory framework. v. monetary and financial statistics last year was a successful one for the bank of albania in its role as one of the three national agencies producing statistics. expanding statistical information, and perfecting some of the methodologies underlying the statistical product of the bank of albania have been evaluated positively by international institutions, making thus significant progress towards the approximation with eurostat and imf standards. in 2015, the bank of albania published, for the first time, the annual information on