About 6.78 billion lek to save banks from bankruptcy - BoA: Contribution to the Extraordinary Intervention Fund was increased in April
The Emergency Intervention Fund, which is used to rescue banks in case of bankruptcy or financial crises, has reached 6.78 billion lek. According to data from the Bank of Albania, in April 2025, the Emergency Intervention Fund was increased by 1.04 billion lek from the collection of the annual contribution of banks.
Banks have paid into this Fund about 982.1 million lek in 2024, bringing the total paid at the end of 2024 to 5.2 billion lek.
The Bank of Albania calculates each year the annual contribution that the banking sector will pay to achieve the target level of the Emergency Intervention Fund. In order to meet the target level of the fund, contributions are paid in proportion to the years remaining until 2027. Since 2018, the contribution paid by banks has been increasing year by year, while it is aimed that by 2027, the Emergency Intervention Fund will reach 8.5 billion lek.
The Emergency Intervention Fund was created in 2018 and is administered by the Deposit Insurance Agency. The money that banks pay into the Fund each year is invested by this Agency in Albanian Government securities and one-week deposits and current accounts with the Bank of Albania. The nominal value invested is 5.67 billion lek, while the Fund's income from interest earned from the investment of the Fund's amount was 219.6 million lek in 2024.
During the past year, investments were mostly in lek, while those in foreign currency constitute a small percentage.
This fund can be used by the Bank of Albania for several purposes, such as: guaranteeing the assets or liabilities of the bank in extraordinary intervention, the bridge bank or the asset management company, compensating for uncovered losses arising due to the exclusion of the accepted liabilities of the bank's creditors in extraordinary intervention, etc.
Bitcoin reaches historic highs - Growth fueled by weakening US dollar
Bitcoin has reached an all-time high, surpassing its previous high in January. The rise has been fueled by easing trade tensions and a weakening US......
G7 leaders discuss trade tariffs - Talks covered support for Ukraine, China policies
G7 finance ministers sought to find a compromise on US tariffs and maintain unity at their latest meeting. Among the issues discussed were support for......
Albania-EU, V Intergovernmental Conference held in Brussels - Progress of negotiations, 'Competitiveness' group chapter opens
The fifth Albania-European Union Intergovernmental Conference will be held in Brussels this Thursday. The Albanian delegation will be led by the Minister for......
'Auto-moto Park', the government grants 3 million euros in expropriations - The project being built in Elbasan has begun to be implemented
The government has approved a fund of almost 3 million euros for expropriations of properties affected by the implementation of the "Auto-moto Park" project......
General growth in the foreign exchange market! - How much are the Euro, Dollar, Franc and Pound exchanged for today?
The US dollar seems to have started the day positively, recovering somewhat from yesterday as it was bought today at 86.3 lek and sold at 87.6 lek according......
Crypto giant hit by cyberattack - Digital breach expected to cost Coinbase $400 million
Cryptocurrency company Coinbase has been hit by a cyberattack that could cause up to $400 million in economic damage. The firm is offering a $20 million......
Europe prepares for an "extreme" summer - According to forecasts, frequent heat waves and lack of precipitation are expected
Long-term forecasts for summer 2025 show drier and hotter than normal conditions across much of Europe. Frequent heat waves, lack of precipitation and......
IMF predicts 4% growth for Kosovo - Inflation expected to be 2.25% in 2025
The Executive Board of the International Monetary Fund (IMF) completed the fourth and final review of the Stand-By Arrangements and the Sustainability Award......
