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ARTICLE · 21 JUNE 2022

A Banking Regulator's Perspective

Finance Malta
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Costs for banks have increased significantly in the last two years. Regulators have required banks to invest in more capital to improve their financial resilience; to spend more on digital services and...

MaltaFinance and Banking
Finance Malta
Finance Malta
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Costs for banks have increased significantly in the last two years. Regulators have required banks to invest in more capital to improve their financial resilience; to spend more on digital services and cyber resilience to improve customer experiences; and to spend more on stronger compliance standards so they comply with an increasingly complex set of rules such as those for anti-money laundering.

At the same time, the Malta Financial Services Authority (MFSA) has upgraded its supervisory approach – which means they need to be more responsive to our demands –while they also faced operational challenges as a result of COVID-19.

The MFSA knows there is still a significant degree of dissatisfaction, justifiably or not, with the service banks are providing to local customers. I made a speech recently which pointed out that more change is on the way which will continue to make the challenge for banks even harder. These include changes to drive more environmentally

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