COVID-19 Update: Regulatory Updates Concerning The Banking Sector

The European Central Bank ("ECB"), European Banking Authority ("EBA") and the Malta Financial Services Authority ("MFSA") have addressed certain matters of interest to banks, financial institutions and consumers concerning the economic impact of COVID-19 on the EU banking sector. Key regulatory updates have been highlighted below.

This piece forms part of a series of COVID-19 updates published by our firm in response to developments around the pandemic. For more on this series, please see here. 

Moratorium on Credit Facilities in Exceptional Circumstances Regulations, 2020 (L.N. 142 of 2020) and Directive No. 18 (Central Bank of Malta)

On 13 April 2020, the Maltese Government published the Moratorium on Credit Facilities in Exceptional Circumstances Regulations, 2020 ("Regulations") and the Central Bank of Malta issued Directive No 18 ("Directive"). These rules follow the publication of guidelines by the EBA earlier this month on legislative and