bcbs will be supportive in avoiding delays or departures from the agreed implementation plan in other jurisdictions. b. compensation practices a second priority area addresses the widely acknowledged fact that inadequate compensation practices prior to the crisis led to excessive risk - taking and short - termism in financial institutions. to safeguard financial stability, remuneration systems in the financial sector must be better aligned with the long - term performance of firms. with the principles for sound compensation practices and their implementation standards, the fsb developed corresponding guidelines. the 2011 fsb peer review on compensation practices concluded that overall good progress had been made in implementing the principles and standards. at the same time, the review highlighted that level playing field issues exist among supervisors and institutions. in response, the fsb is developing an ongoing monitoring mechanism to identify gaps and impediments to full implementation. as part of that, a bilateral complaint handling process between supervisors is being established to address level playing field concerns raised by institutions. bis central bankers ’ speeches c. shadow banking system a third priority area deals with the so called shadow banking system. this is becoming more important because stricter regulation of the banking sector is setting incentives to move business into lightly or not ( or not yet ) regulated parts of the financial system. to ensure a level playing field with the banking sector, intensified monitoring and regulation of shadow banking activities is warranted. the fsb set out recommendations for effective monitoring which are now to be implemented by national authorities. additionally, monitoring exercises to assess global trends and risks in the shadow banking system are conducted annually. meanwhile, work at the international level is ongoing to examine potential gaps and inconsistencies of the current framework and to develop proposals on further regulatory measures on different parts of the shadow banking system, including money market funds, securitisations and repos. d. otc derivatives markets the last priority area i am addressing is reforms in over - the - counter ( otc ) derivatives markets. the global spillovers in the aftermath of the lehman brothers ’ failure have impressively illustrated that otc derivatives markets can be a source of systemic risk due to their size and low degree of transparency. the complexity of the markets and the lack of a single standard - setting body make regulation highly challenging. accordingly, policy development is still ongoing. even so, g20 member jurisdictions have already committed to new rules for otc derivatives markets to be in place by late 2012. these include standardised contracts, central clearing on exchanges or organised platform trading,

payment system throughout kosovo, including the affected areas that have been isolated for a certain time period. 2. the economy of the country has been constantly and sufficiently supplied with cash and i want to reassure citizens that all banks have sufficient liquidity and there will be no problems in relation to the supply of cash. on this occasion, allow me to inform you that the cbk commenced the regular disinfection of all cash supplied in the market, as a protective measure for users of cash. however, given that cash have a multiple circulation from the moment they leave the bank, we urge citizens to strictly adhere to the hygiene instructions issued by healthcare institutions after each cash or card transactions. we urge our citizens to avoid cash as much as possible and to use bank cards and other electronic payment methods as much as possible. 3. liquidity levels in the banking sector as of 31 march 2020 remain at a satisfactory level of 35. 3 %, marking a slight increase of 0. 3 % compared to 16 march 2020. deposits are also very stable, reaching eur 3. 88 billion as of 31 march 2020, marking an increase of eur 9. 3 million compared to 16 march 2020. 4. recognizing the difficulties that some businesses and employees are facing, cbk, together with the lending institutions, has decided to allow a grace period for loan instalment payments starting from 16 march 2020 until 30 april 2020, and depending on the developments of the situation this period may be extended. this is aimed at alleviating the financial burden on all borrowers who are facing difficulties in generating income as a result of the pandemic crisis. 5. the temporary suspension of loan instalment payments will be reviewed on a case - by - case basis by the banks so that these benefits only go to those affected by the current crisis. 6. in the event of such a request being approved by the bank, the penalty interest related to the loans shall not apply during this period. during this period, no deterioration measure of the credit rating will be applied to the borrower. 7. cbk, through its credit registry measures, has undertaken all appropriate legal measures to prevent credit ratings, to not require additional provisions and to not classify them as non - performing loans in the credit registry. 8. banks should, in no case, raise fees for the delivery of services. * * * we believe that measures taken by domestic institutions will be able to mitigate the effects of the pandemic crisis on the