gent sejko : the role of central banks and the banking sector on the path to eu welcome address by mr gent sejko, governor of the bank of albania, at the annual conference of the bank of albania, co - organised with the albanian association of banks, tirana, 13 november 2024. * * * honourable minister of finance honourable madam minister of state and chief negotiator, honourable chair of parliamentary committee on economy and finance, dear president of the albanian association of banks shella, dear fellow governors and guests it is a great honour and pleasure to welcome you all to the annual conference of the bank of albania. please allow me, in this occasion to congratulate the albanian association of banks for its 25th anniversary. the albanian association of banks, the co - organiser of this conference, has proven to be a serious collaborating and coordinating platform for the banking industry, in addition to being a visionary institution and our important partner on our journey towards development and modernisation. this conference, the 17th one, is a crucial moment in our annual business schedule as it always offers a solid ground for communicating with our institutional partners, field experts and the public at large. it enables us to look away from the challenges of the present, to consider issues of strategic importance for the sustainable and long - term development of albania, as well as to try - through open and constructive dialogue, to identify the policies and adequate instruments for addressing them. in this view, i would like to highlight that despite the rapid economic and political developments of the year we are leaving behind, the long - term headline from 2024 will be our receiving of a green light and the start - in october - of the official process of negotiations for membership in the union european. this new chapter poses a busy agenda ahead of regulatory, legislative and institutional reforms. their realisation is both a prerequisite for our membership, as well as a major and indispensable step on our way of progress. for this reason, we have decided to dedicate the proceedings of this conference to the role of central banks and the banking sector in the integration process. dear guests, before addressing my views on our conference's topic, i would like to focus briefly on the current status of the albanian economy and its financial system. 1 / 4 bis - central bankers'speeches albania of 2024 offers a completely different economic reality compared to a decade ago, when the country received the status of potential candidate for membership. despite

luis de guindos : global financial regulation - where next? pending tasks for regulators and macroprudential policy makers speech by mr luis de guindos, vice - president of the european central bank, at the london city week, london, 21 may 2019. * * * introduction more than ten years have passed since the global financial crisis triggered a comprehensive regulatory reform process. many important measures have been put in place since then. the title of the next panel discussion therefore raises a very pertinent question for global regulators : where next? should regulators take a long break, as some stakeholders might quietly hope? or is there still work to be done? as you might imagine, i tend towards the view that it is not the time for regulators to rest. in my remarks today, i will touch upon three areas that require further efforts. first, for the banking sector, we need to ensure the full and timely implementation of basel iii standards and a proper evaluation of the effects of the reforms. second, macroprudential policy based on robust quantitative assessments should play a crucial role in sustaining the resilience of the financial sector over the financial cycle. third, we need to see active monitoring of the non - bank financial sector, including from a system - wide perspective. this is because of the growing size and risktaking activity of non - banks which may call for macroprudential powers and tools in this area. evaluating the effects of reform and implementing the basel iii package let me start with reform implementation and assessment. as the post - crisis reform agenda for the banking sector is now coming to an end, focus is gradually shifting towards evaluating the effects of the reforms. such evaluation work is an essential part of the policy process. it helps us to understand whether the reforms are having the desired effect, and to identify potential unintended consequences that may have to be addressed. for these reasons, we fully support the evaluation work being carried out under the aegis of the financial stability board. we are also conducting a number of evaluation projects of our own. 1 one recent study by ecb staff, for example, finds that the reforms that are already in place have helped to make the euro area banking system safer. in particular, risks have been considerably reduced, and euro area banks are now better able to withstand shocks of the kind we have experienced in the past. 2 on the one hand, this is a reassuring result, illustrating the progress we have made over the last few years. on