Circular addressed to Credit Institutions authorised in terms of the Banking Act

On the 3rd of January 2019, the Malta Financial Services Authority (MFSA)  has issued Circular addressed to Credit Institutions authorised in terms of the Banking Act, 1994.  

This circular is aimed at bringing to the attention of Credit Institutions the update of the Circular on the Imposition of Negative Interest Rates on Euro denominated Deposits.

Following the feedback received on the above Circular, the MFSA reconsidered the criteria established on the charge of maintenance fees on deposits held by credit institutions and decided that the deposit threshold (originally set at EURO 2.0 million) is being reduced to EURO 1.5 million. Any other criteria established in the previous Circular still apply.

The document, which may be downloaded by clicking here, is also available on the MFSA’s website.

Contact E&S team on +356 20103020 or by mail at info@ellulschranz.com to find out more. 

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