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ARTICLE · 04 JUNE 2025

MFSA Survey Highlights Varying Preparedness For CRR3 Implementation

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The Malta Financial Services Authority (MFSA) has shared feedback on its industry-wide survey examining the preparedness of local credit institutions for the upcoming changes...

MaltaFinance and Banking
Ruban Thangaraja
Ruban Thangaraja
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On 28 May 2025, the Malta Financial Services Authority (MFSA) issued a circular announcing amendments to Chapters 2 and 3 of the Financial Institutions Rulebook (FIR/02 and FIR/03).

These updates align national rules with the latest EU legislative developments, namely Regulation (EU) 2024/886 on instant credit transfers and the European Banking Authority's (EBA) revised Guidelines on ICT and security risk management, in the context of the Digital Operational Resilience Act (DORA).

New Conditions for Access to Designated Payment Systems

To support the implementation of Regulation (EU) 2024/886, the MFSA has amended FIR/03 to set out a formal procedure for Payment Institutions and Electronic Money Institutions (EMIs) applying to participate in designated payment systems under Directive 98/26/EC.

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