REPUBLIC OF ALBANIA BANK OF ALBANIA SUPERVISORY COUNCIL DECISION. No 126, dated

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1 REPUBLIC OF ALBANIA BANK OF ALBANIA SUPERVISORY COUNCIL DECISION No 26, dated ON AMENDMENTS TO THE REGULATION ON THE FUNCTIONING OF THE CENTRAL ALBANIAN FINANCIAL INSTRUMENT SETTLEMENT AND REGISTRATION (AFISAR) SYSTEM In accordance with Article 43 c of Law No. 8269, dated 23/2/997 On the Bank of Albania, as amended, having taken into regard the proposal of the Monetary Operations Department, the Supervisory Council of the Bank of Albania, DECIDED:. To amend the Regulation "On the functioning of the central Albanian Financial Instrument Settlement and Registration (AFISaR) system, approved with the Decision No. 76, dated , of the Supervisory Council of the Bank of Albania, as follows: a) Paragraph 2 is added after paragraph 3 in Article 26, to be read as follows: Related to the securities' accounts of indirect participants through the Bank of Albania, which are blocked upon the relevant orders/decisions of the respective authorities, Bank of Albania may open cash special accounts to transfer the redemption amount of the securities in the blocked accounts. b) Article 50, paragraph 3 is amended to be read: "3. Ministry of Finance and natural persons that have security accounts at the Bank of Albania will be excluded from fees. Legal persons holding securities account at the Bank of Albania will be exuded only from the fees laid down in paragraph 5 of this Article. Other exclusions will be subject of the Supervisory Council's decision. c) Article 50, paragraph 5/ is added after paragraph 5, to be read as follows:

2 5/ Fees applied on special transactions, shall be settled on daily basis, on the next business day. The administrator may submit to participants, in the first business day of the calendar month, a summarised bill on the fees paid in the previous month. d) Article 50, paragraph 6 is amended to read: Fees will be applied on both parties in the transaction, except if one of the counterparties is excluded from fees in line with paragraph 3, or this counterparty is Bank of Albania. e) Article 76, paragraph 2 shall be repealed. f) Content in Appendix 8 is amended to the content in Appendix 8 attached to this Decision. g) Appendixes 3, 4, 7 and 8 shall be repealed. h) Appendix 9 attached to this Decision is added. Any reference in the Regulation for the Appendixes 3, 4, 7 and 8 will be replaced with Appendix Monetary Operations Department, Department of Payment System and Accounting and Finance and Information Technology Department at the Bank of Albania, and participants in the AFISaR system shall be responsible for the implementation of this Decision. 3. The Governor's Office and the Research Department shall be responsible for the publication of this Regulation in the Official Journal of the Republic of Albania and in the Official Bulletin of the Bank of Albania. This Decision shall enter into force 30 (thirdy) days after its publication in the Official Journal of the Republic of Albania. SECRETARY CHAIRMAN Elvis ÇIBUKU Gent SEJKO 2

3 Appendix 8 - Fees applied in AFISaR system Type of fee Unit value fee (lek) in % A. Fee for participation and maintenance Entry fee for direct participants Entry fee commission for direct participants Annual maintenance fee for indirect participants (legal persons) having a securities account at the Bank of Albania Annual maintenance commission for direct participants Annual maintenance fee for indirect participants with securities account in the direct participant, except of the Bank of Albania* Exit fee B. Fees applied on special operations include: Processing fee () for DvP operations (sale-purchase, intraday loan with the Bank of Albania and the reverse operation, repurchasing agreements and reverse repurchasing agreements with the Bank of Albania and the reverse operation) 350 Processing fee (2) for DvP operations (repurchasing agreements and reverse repurchasing agreements and the reverse operation, different from those with the Bank of Albania) 200 Processing fee for free-of-payment delivery operations (portfolio transfer, transactions between own account of the direct participant and an indirect participant's account, transactions between two participants having the same settlement agent in AIPS, collateral execution, security substitution in a repurchasing agreement, margin call operations for securities traded in repurchasing agreements) 350 Primary market results processing fee (initial placement, redemption, reopening auction, redemption auction) 200 Procesing fee for DVP2 primary market netted transactions 50 Processing fee for interests payment received from investments in securities 200 Pledge processing fee (pledge registration, pledge release) 350 Procesing fee for coupon return processing repo/reverse repo agreement 350 Fee for recycling transactions in the primary market Processing fee for transactions arising from the call of securities, from repurchase/revere repurchase agreements of the Ministry of Finance, from securities 3

4 taxing C. Other commissions Preparation of reports according to specific request Commission for certifying system operators Commission for certifying system operators Commission for the access token to the AFISaR system To be assessed according to specific request 3 (three) participants for free, others with payment according to the token's cost. Albania Discounts to encourage the processing For the processed volume For the processing time *This commission is billed and collected by the direct participants and then is transferred to the Bank of Albania. 4

5 Appendix 9: REQUEST TO CRETE USER BANK OF ALBANIA AFISaR SYSTEM Application form for users in VPN, Security appliances, Digital certificate and users related to AFISaR This form shall be filled to manage the credentials of an user in VPN network in the security appliance and Digital certificate in FTP, and in AFISaR system To: Bank of Albania Monetary Operations Department From the Issuing Institution Date of request: / / (dd/mm/yyyy). Request for changes to the VPN network No. First name/last name of user Operation creation of a new user reset the user's password delete the existing user 2. Request for security token No. First name/last name of user Type of equipment Quantity 3. Request for digital certificate No. First name/last name of user Operation generation of a new certificate re-generation of a certificate unblocking and reset the security device ' password certificate revocation 4. Request for changes to the FTP No. First name/last name of user Operation creation of a new user 5

6 reset the user's password delete the existing user 5. Operations in the user's account in AFISaR system (to be filled only in case of impossibility of carrying out the operation by the Security Officers of the Participant) No. First name/last name of user Operation creation of a user approval of the user's creation reset password approval of the resetting password account activation approval of account activation deactivation of an account approval of account deactivation modification of user's profile approval for the modification of user's profile closure of an account approval of account closure Name of user's profile Reason for teh conducted operation (obligatory to be completed): Comments For the issuing institution: Authoriser of request ( ) To the Bank of Albania: Authoriser of request ( ) 6