IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Outflow (subsidised)

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 29 Feb 2012 | Removal date: open ended
Still in force

Trade finance

On 29 February 2012, the government of Albania with the intention of protecting local/national depositors from a potential default of Greek banks, decided that branches of Greek banks operating in Albania have to be transformed into independent subsidiaries. The measure ensures that the Greek financial instituions are under the supervision of the Albanian National Bank. Albanian deposits are thus protected from any haircuts imposed on depositors of the Greek bank owning the subsidiary.
The Greek banks operating in Albania that were affected by this law are Alpha and NBG.
 

AFFECTED COUNTRIES

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