here i take into account either the facilitating of procedures or the increased safety for using these securities as collateral and for encouraging the interbank and lending market. 4. the last but not the least is to increase the possibility of commercial banks to be more present into the market, making it more liquid and solvent. how we think this process will be realized : 1. the ministry of finance and the bank of albania must review the regulatory basis that covers the part of treasury bills issuance and more concretely the agreement concluded by them “ on issuance of treasury bills in the form of registration ”. 2. the bank of albania must review the regulation “ on the secondary and retail treasury bill market in albania ”. 3. the commission of securities must review that part of the regulatory basis which is related to the licensing process of the securities register. 4. the commercial banks should proceed with the commission of securities, with the purpose to ensure the licence for maintaining the register of individual ’ s securities. 5. the bank of albania will prepare, after the completion of this process, the strategic plan of the movement of individuals from its windows to the windows of commercial banks. the time available to the bank of albania will also be used for testing the stance of “ individual ” investors in advance. in this framework, we would also like to inform you that the bank of albania is working for considering, at the shortest time possible, the possibility of increasing the participation amount of individuals, through the bank of albania, in the primary treasury bill market, as well as the application of a commission on new operations they will carry out with it. the new level and commission will affect only the individuals that would like to use the bank of albania to participate in the primary market. thanking you again for your attention, i would like to pass on to the discussions about the steps we deem to make. at the end of this meeting, i propose we come out with a concrete plan of actions for a successful implementation of this process.

non - performing loans, assess them correctly according to possibilities of their repayment and pursue proper policies, in order to recover the loan value within an appropriate time. second, during this phase, it is necessary to strengthen the banks ’ internal audit systems, not only related to credit risk but also to provide a higher standard of management. third, banks should assess their expectations about the performance of their activity and take measures to strengthen their capital position in advance, in case of need. the bank of albania deems that in the periods ahead the albanian banking sector and the economy need to determine and pursue more suitable development policies, which should include : setting realistic development objectives ; setting more competitive prices for banking products and services ; and increasing lending in the national currency. about overall economy, a more sustainable development should be ensured, relating mainly to better control on trade deficit, supporting the sectors that actually contribute or may contribute to increasing exports in the country. public authorities should strengthen their commitment to developing the non - bank financial market, which gradually leads to reduction of economic dependence on the banking sector condition and improves access to financing of a higher number of private entities. in this way, a greater opportunity would be provided to the financial system to finance projects in the agricultural sector, which has a high potential for ensuring competitive advantages in the albanian economy. allow me to conclude by emphasizing the bank of albania ’ s willingness to contribute, through its policies on monetary and financial stability, to maintaining a better climate of sound development of the financial and banking activity, as a condition for a greater financial support to business development in the country. i think that this forum will make a valuable contribution to setting some concrete development policies and projects, about which, i believe that the black sea trade and development bank will offer its own support and expertise. wishing success to the proceedings of this forum, i thank you for your attention! bis central bankers ’ speeches