Central Bank of the Republic of Kosovo meets the Federal Reserve Bank of New York to reaffirm cooperation on reserve management and account services

The Central Bank of the Republic of Kosovo hosted a senior delegation from the Federal Reserve Bank of New York to discuss cooperation focused on the Central Bank’s account relationship with the New York Fed and related investment and reserve management services. The two institutions reaffirmed their intention to continue cooperation, including support for reserve management and capacity building. Governor Ahmet Ismaili briefed the delegation on key macroeconomic and financial developments in Kosovo, progress on strategic sector reforms, and internal institutional reforms aimed at strengthening organisational capacity and internal governance in line with international partner recommendations. Discussions also covered the Central Bank’s work on financial integration with the European Union market, particularly participation in the Single Euro Payments Area (SEPA), developments on a fast payments infrastructure referred to as the TIPS Clone, and progress on central securities depository (CSD) infrastructure, alongside technical standard upgrades and implementation of QR code and International Bank Account Number (IBAN) usage for non-bank financial institutions. The New York Fed delegation, led by its Senior Vice President responsible for central bank account management, confirmed continued cooperation on account services, reserve and risk management, and further training and experience exchange for Central Bank staff.