On 13th April 2020,
the Government of Malta had promulgated the Moratorium on Credit
Facilities in Exceptional Circumstances Regulations (the
"Regulations"), with the main scope of
the Regulations being to regulate the granting of a moratorium by
credit and financial institutions on credit facilities with the aim
of supporting economically vulnerable persons materially affected
by the COVID-19 pandemic.
Regulation 5 of the Regulations, in fact, provides that credit
and financial institutions shall grant a moratorium on capital and
interest, unless the borrower decides to continue to pay the
relevant interest, applicable to all credit facilities satisfying
the eligibility criteria established under a directive issued by
the Central Bank, with the exception of credit facilities available
to other credit and financial institutions. The duration of the
moratorium shall be for a period of six (6) months; applications to
benefit of same were to be made by the 30th June
