. cheap, 2. of the highest quality and 3. universally accessible to all without entry barriers in the banking sector – like in the area of health care – we can either abandon one principle in order to achieve the remaining two more or less perfectly, or we have to balance all the three principles somehow, but all of them will be achieved and maintained only partially, imperfectly ( and sometimes deeply imperfectly ). that is the limitation we face and will always face in the banking sector, and that ’ s why no perfect and once - and - for - all accepted way of achieving the “ ideal state of affairs of banks ” will probably ever be established. all the more so as the reality makes achieving any ideal less likely in the future than it is now. look, for instance, at the issue of resolvability of banks. yes, we in the eu have the brrd bis central bankers ’ speeches ( bank recovery and resolution directive ) as our european answer to the question of resolvability. let ’ s put aside the fact that its practical implementation and the enforcement of its key principles have not always been convincing so far. and we are not sure that these principles ( namely bail - in ) will be applied in a dynamically consistent way across countries and banks in the future. but still many believe we have made banks more resolvable ( and also resilient ) since 2008. and i think there are underlying real - time processes that are actually making banks less resolvable now compared to the past. why? what worries me is that over time many end - users ( and also policy - makers ) tend to look at standard commercial banks as utilities with all their typical features. one of those features is that the population is becoming more and more incrementally dependent on the services such utilities provide, quite often without the very same population even noticing it. a typical example is electricity. we have been getting more and more dependent on electricity incrementally, in small steps, for many, many years now. so an electricity blackout now – in 2016 – would cause more harm and damage than it would have done say forty or fifty years ago, as many more devices, processes and productions are partially, or even fully, dependent on a continuous supply of electricity. and this continuous supply in turn incentivises the use of electricity as a tool of production and a source of power for various devices etc. this phenomenon of incrementally increasing dependence is

will support this process by cooperating with the banking industry and improving the regulatory and supervisory framework. for the supervisory authorities of the financial system, the recommendations relate to strengthening the preventive and management framework of risks and, in this regard, improvement of the legal, operational and inter - institutional cooperation infrastructure is recommended. concluding, i would like to reiterate our message : the prospects for albania ’ s development remain positive. the economic and financial stability, geographical position and natural resources, and integration with the european union make us optimistic about albania ’ s future development. i invite you all to share in this vision and work together to make it a reality. i assure you that the bank of albania, as the supervisory authority, will undertake all the necessary actions, under its scope of activity, to support the industry to successfully overcome these challenges and ensure that the sector remains well capitalised and liquid. thank you! bis central bankers ’ speeches