between the two countries. it enables the local banking system to access the renminbi. this is translated into a possibility to lend in this currency for albanian importers or exporters that trade with their chinese partners, providing, therefore, an impetus to exports. second, the agreement promotes chinese foreign investments in albania. the swap mechanism establishes the necessary basis and stimuli for chinese investors to expand their activity, which would eventually bring about direct positive effects on the albanian economy. third, the foreign currency swap agreement can substantially improve risk assessment of a country, because, through this mechanism, a central bank can easily access external foreign currency funds even in case of market shock. most essentially, the existence of a swap agreement implies a strong commitment on behalf of the central bank to ensure the system ’ s financial stability, because it can be supported by other central banks in the event of shocks. even this information in itself can send calming signals to financial markets. along the same lines, it is clearly understood that the efforts made by all of us for a successful implementation of this agreement bring about benefits to all the parties : the overall economy, the banking system, and the bank of albania. dear bank executives and representatives, the bank of albania regards the successful implementation of this agreement as a process that requires our constant commitment, which would yield tangible benefits to all of us. deepening and expanding the financial market through this agreement will facilitate, also, the government ’ s access to a new debt and funding market, providing for a new base of buyers and for diversifying the government ’ s funding sources. i would like to invite you, following the presentation, to share your views and opinions in an open and fruitful discussion about the appropriate ways to implement the agreement. thank you! bis central bankers ’ speeches

regards this role in view of your positioning as important mediators between cash operations and operations carried out through the banking system. in this aspect, i could not help mentioning also the obligation you have in terms of more rigorous implementation of money laundering prevention law. as you may already know, presently albania applies the flexible exchange rate regime, which means that market forces are the ones that determine its level. your behaviour has constantly helped reflecting in this price the demand and supply for this commodity, preventing the risk of price mismatch to overall market conditions and to the macroeconomic climate of the country. in this framework, i would also like to highlight your positive behaviour, related to positioning future flows of the supply and demand for foreign currency, particularly during critical periods of the market, which relate to the seasonal exchange rate behaviour, as a rational behaviour that helps reducing exchange rate volatility. given the above, the bank of albania is highly interested in getting informed with your opinions about market operation, positive or negative changes having occurred recently, relationships between foreign exchange bureaus and commercial banks within the framework of competition and mutual benefit. the bank of albania expresses its willingness to provide trainings on various products that may be traded by the domestic foreign exchange market. as the first step in this regard, we plan to deal with forward operations, which will better serve the smoothing of seasonal effects of exchange rate behaviour and the hedging against undesirable foreign exchange movements. highlighting the general but very important nature of the above issues, we would also like to share opinions on current economic situation with you. psychological effects on foreign exchange rate performance are another extremely important factor. taking into consideration the current world crisis, the bank of albania, appreciating your position in generating information from both, businesses and the broad public, would be interested in your opinions ; moreover, it would welcome your suggestions about any possible forms of generating these opinions periodically. in conclusion, intending to leave more room for discussing and exchanging ideas, we welcome your opinions even about other issues, related to reporting to the bank of albania or implementation of money laundering prevention law.