, the bank of albania is currently in the process of reviewing the regulatory framework which will ensure the appropriate implementation of the said law. in this framework, the preparation of the respective impact assessments for each proposed regulatory amendment in close consultations with the market participants remains one of the objectives of the bank of albania in the near future. these new analytical tools will certainly improve policy - making by placing a greater emphasis on the clarification of costs related to the enforcement and implementation of the adopted regulatory acts through the conduct of the respective cost - benefit analyses. at the same time, the use of these assessment techniques will enhance the transparency of policy - making by ensuring a better communication of the regulatory and supervisory authorities with market participants. let me conclude by thanking mr. bossone and mr. brogi from the convergence program as well as ms. wesseling from the committee of european insurance and occupational pensions supervisors for being among us today. it is my deep conviction that their presentations will prove to be highly beneficial and insightful to all participants. i wish you a fruitful and interesting workshop. thank you.

which, in turn, also has the potential to lower cash usage, which can be quite costly for banks and for society as a whole. who drives sepa? having discussed what “ to sepa ” means, let me turn to the question of who is in the driving seat of the sepa process. the creation of sepa is a major european policy objective for the european commission and the eurosystem. thus, we are closely monitoring the developments, assessing the state of preparation and providing guidance to the market where necessary. here, i refer back to the guidance we recently gave in the sdd dossier. also, in the upcoming weeks, we will have a further exchange of views on the possibility and necessity of a migration end - date for the sct and the sdd. notwithstanding the aforementioned political objective, i wish to emphasise that the establishment of sepa is a market - driven project. it is up to the banks to win over their customers and convince them through marketable and user - friendly sepa products and services. likewise, service providers to banks, such as clearing and settlement infrastructures, and information and communication technology suppliers are expected to drive sepa. one of the organisers of this summit, sia - ssb, has underlined its commitment to the sepa project. it is one of the first csms to have published its self - assessment against the eurosystem ’ s terms of reference for the sepa - compliance of retail payment infrastructures. i expect others to soon follow suit. who will “ go sepa ”? the expectation is for sepa to be more than a policy vision. it should address the needs of all users of payment services, irrespective of whether they are corporates, smes, merchants, public administrations or retail customers. however, in order to reap the benefits of sepa, users need to “ go sepa ”. by “ going sepa ”, i mean be ready to change : change habits, change national practices, even change focus, if necessary. for corporates, sepa is expected to enable bank relationships and account structures to be rationalised. a centralised treasury, better liquidity management and optimised payment processing will be made possible. even for smaller, mainly nationally - oriented corporates, sepa is expected to provide benefits as competition in the banking sector will increase, leading to a broader range of banks and banking services to choose from. however, in order