the commission to the european parliament, the council, the european economic and social committee and the committee of the regions, stepping up europe ’ s 2030 climate ambition, investing in a climate - neutral future for the benefit of our people, september 2020. ii cour des comptes, " report on the position and outlook of public finances " ( rapport sur la situation et les perspectives des finances publiques, 22 june 2021 ), or the public annual report, 16 february 2022. iii f. villeroy de galhau, the eurosystem and its monetary policy : from an “ impossible dilemma ” to a possible roadmap for normalisation, speech, 6 may 2022. iv according to eurostat, spending on pensions and “ economic affairs ” reached 15. 7 % and 6. 8 % of gdp respectively in france in 2020, compared with 13. 4 % and 5. 9 % of gdp for the euro area as a whole ( 12. 3 % and 4. 6 % in germany ). v f. villeroy de galhau, making the post - covid era a success for the french and european economy pour l ’ economie francaise et europeenne, reussir l ’ apres - covid, speech, 18 january 2022.

regulatory framework through the approval of new regulatory acts, as well review of applicable regulations, by further aligning this framework with the eu acquis, the basel committee principles and the best practices of banking supervision. the review of the applicable regulatory framework has also taken into account the situation created in albania by the pandemic. also, a part of the approved by laws have aimed at complementing the regulatory framework in the field of resolution, whose responsible authority is the bank of albania. the rigorous monitoring of financial system through on - site examinations. the pandemic situation and the restrictions in place imposed the differentiated condition of on - site examinations. on the other hand, we have intensified the correspondence with banks and nonbanks financial institutions, for the sharing of information and increasing the reports. in 2020, 27 examinations were performed, covering banks and non - bank financial institutions, and 74 examinations in foreign exchange bureaus. credit risk was the main objective of these examinations. 4 / 6 bis central bankers'speeches strengthening the ability for resolution in banks. in capacity of resolution authority, the bank of albania has drafted the resolution plans for systemic banks, has identified the potential obstacles to the implementation of resolution and has drafted the measures for overcoming these obstacles. in addition, in 2020, the bank of albania completed the first cycle of drafting resolution plans for non - systemic banks. development and implementation of macro - prudential policy for the purposes of financial stability. the bank of albania has a primary role in drafting and implementing the macroprudential policy. this policy prevents the accumulation of risks and strengthens the financial system ’ s resilience. throughout 2020, new regulatory acts were implemented – liquidity coverage ratio and the regulation on the implementation of additional macro - prudential capital buffers – which aim at mitigating risks and strengthening the resilience of the banking sector. the realisation of institutional duties implies also a constant attention on other areas of the bank of albania ’ s activity. following, i will try to provide an overview of them. 3. other activities the functioning of the economy and banking system is underpinned by a safe and efficient payment system. both systems operated by the bank of albania, the albanian interbank payment aips ) and the albanian electronic clearing house ( aech ) have operated efficiently and safely. in 2020, the regulatory framework on the functioning of both payment systems was reviewed. both systems have been assesses by international experts related to the principles of bank for