Annual Report 2010 03 August 2011 - Banka Qendrore e ...

Annual Report 2010
CBK
transfers account continued to contribute to the softening of the current account deficit.
Within the capital and financial account, ‘other investments’ recorded a more significant
growth, while also foreign direct investments recorded a positive growth rate.
The CBK continued applying the best international practices in the area of licensing,
regulation and supervision of the financial institutions. Significant investments have been
carried out in this context towards advancing the risk profile-based supervision in financial
sector and enhancing the cooperation with central banks and relevant supervision
authorities of other countries, such as Turkey, Germany, Austria, Slovenia, Montenegro,
etc.
In the area of traditional central bank operation, the CBK has successfully played its role
as a government fiscal agent and banker, advancing the processes which relate to account
transactions, financial assets management, interbank payment systems and supplying the
economy on timely basis with adequate denominations of euro banknotes and coins. Within
the Interbank Electronic Clearing System (IECS), a considerable growth both in volume
and in value of payment transactions was recorded during 2010. Around 3.9 million
transactions with total value of euro 4.66 billion were canalized through IECS during 2010.
Also, during 2010, in cooperation with USAID, preparations have been carried out to
further advance the Credit Registry with the purpose of reducing the asymmetry
information in the lending area.
Assets’ security remains the main pillar of the CBK Investment Policy. Owing to a careful
risk profile analysis of institutions and places where the CBK balance assets have been
invested, it was ensured not only the necessary liquidity, but also the reasonable return
from invested assets. In addition to the Treasury, in 2010, agreements on certain maturity
investments have also been reached with other large CBK depositors. CBK Investment
Committee as well as Liquidation Committee together with Treasury have assessed on
regular basis corresponding banks with purpose of ensuring the fulfillment of criteria
required by the CBK investment policy.
Parallel to standard audit envisaged under the Annual Plan of the Head of Internal Audit
(HIA), particular reports on development of investments, both in money market and in the
securities market have been prepared in 2010. Moreover, based on the Stand-By”
arrangement, the government accounts kept within CBK have been audited on regular
basis, and the auditing spectrum has been extended towards financial supervision and the
information technology area.
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