Featured Product

    IMF Publishes Technical Notes Under FSAP Assessment on Malta

    November 21, 2019

    IMF published several technical notes under the Financial Sector Assessment Program (FSAP) on Malta. The technical notes cover various topics in the banking and insurance sectors such as banking, insurance, and securities sector supervision; macro-prudential policy framework and tools; risk analysis; and bank resolution and crisis management. The notes also cover analysis of the anti-money laundering and combating the financing of terrorism (AML/CFT) regime in Malta.

    The following are the key highlights of the various technical notes:

    • Technical Note on Banking Supervision. This note presents assessment of the FSAP mission of banking supervision based on discussions that took place during the 2018 FSAP mission in Malta. The analysis took into consideration the legal and regulatory framework in place, the supervisory practices employed, and other conditions as they existed in September 2018. The mission focused on selected topics in relation to the supervision of less significant institutions, which are not directly supervised by ECB, and on non-EU branches.
    • Technical Note on Insurance and Securities Sector Supervision. This note reviews the institutional arrangements and effectiveness of supervisory practices for the insurance and securities sectors in Malta. The review covers the governance, powers, operational independence, and supervisory resources of MFSA. The evaluation is benchmarked against the relevant Insurance Core Principles established by IAIS and the Objectives and Principles of Securities Regulation promulgated by IOSCO. The scope of review for the securities sector is limited to investment funds and securities firms.
    • Technical Note on Macro-Prudential Policy Framework and Tools. This technical note evaluates the domestic macro-prudential policy framework in Malta and provides recommendations to strengthen the framework. It assesses the domestic institutional arrangements, systemic risk monitoring framework;, and macro-prudential policy toolkit. It also assesses the current financial vulnerabilities in Malta, with the aim to develop specific policy recommendations. 
    • Technical Note on Risk Analysis. The note presents results of the solvency stress test, including sensitivity analysis, discusses liquidity stress test using three complementary approaches, and analyzes the contagion risks from both cross-sectoral and cross-border perspectives. This note also discusses the household stress tests. To address vulnerabilities in the banking system, this technical note provides policy recommendations that are based on findings in the stress tests and risk analysis and are aimed to strengthen resilience of the banking system in Malta.
    • Technical Note on Bank Resolution and Crisis Management. This note analyzes the bank failure mitigation and resolution regime in Malta as well as arrangements for preparing for and managing a financial crisis. It assesses the supervision of bank recovery plans, early intervention when problems are identified, resolution planning, resolution funding, and deposit insurance. It summarizes the findings of FSAP mission undertaken during September 10 to 26, 2018. It also considers recovery and resolution planning for significant insurers with links to banks. The assessment presented in this note is based on an analysis of the legal framework and documentation related to policies and procedures and on discussions with, and representations made by, the authorities and the private sector. 
    • Technical Note on AML/CFT. This note sets out the findings and recommendations of FSAP for the Republic of Malta in the areas of AML/CFT. It summarizes the findings of a targeted review of several aspects of the progress of Malta in addressing AML/CFT vulnerabilities in the financial sector, specifically the banking sector.


    Related Links

    Keywords: Europe, EU, Malta, Banking, Insurance, Securities, Stress Testing, Macro-Prudential Policy, Less Significant Institutions, AML/CFT, FSAP, Resolution Planning, Crisis Management, MFSA, IMF

    Featured Experts
    Related Articles

    ESAs Issue Multiple Regulatory Updates for Financial Sector Entities

    The three European Supervisory Authorities (ESAs) issued a letter to inform about delay in the Sustainable Finance Disclosure Regulation (SFDR) mandate, along with a Call for Evidence on greenwashing practices.

    November 15, 2022 WebPage Regulatory News

    FSB and NGFS Publish Initial Findings from Climate Scenario Analyses

    The Financial Stability Board (FSB) and the Network for Greening the Financial System (NGFS) published a joint report that outlines the initial findings from climate scenario analyses undertaken by financial authorities to assess climate-related financial risks.

    November 15, 2022 WebPage Regulatory News

    FSB Issues Reports on NBFI and Liquidity in Government Bonds

    The Financial Stability Board (FSB) published a letter intended for the G20 leaders, highlighting the work that it will undertake under the Indian G20 Presidency in 2023 to strengthen resilience of the financial system.

    November 14, 2022 WebPage Regulatory News

    ISSB Makes Announcements at COP27; IASB to Propose IFRS 9 Amendments

    The International Sustainability Standards Board (ISSB) of the IFRS Foundations made several announcements at COP27 and with respect to its work on the sustainability standards.

    November 10, 2022 WebPage Regulatory News

    IOSCO Prioritizes Green Disclosures, Greenwashing, and Carbon Markets

    The International Organization for Securities Commissions (IOSCO), at COP27, outlined the regulatory priorities for sustainability disclosures, mitigation of greenwashing, and promotion of integrity in carbon markets.

    November 09, 2022 WebPage Regulatory News

    EBA Finalizes Methodology for Stress Tests, Issues Other Updates

    The European Banking Authority (EBA) issued a statement in the context of COP27, clarified the operationalization of intermediate EU parent undertakings (IPUs) of third-country groups

    November 09, 2022 WebPage Regulatory News

    EU Finalizes Rules Under Crowdfunding Service Providers Regulation

    The European Union has finalized and published, in the Official Journal of the European Union, a set of 13 Delegated and Implementing Regulations applicable to the European crowdfunding service providers.

    November 08, 2022 WebPage Regulatory News

    OSFI Sets Out Work Priorities and Reporting Updates for Banks

    The Office of the Superintendent of Financial Institutions (OSFI) published an annual report on its activities, a report on forward-looking work.

    November 07, 2022 WebPage Regulatory News

    APRA Finalizes Changes to Capital Framework, Issues Other Updates

    The Australian Prudential Regulation Authority (APRA) finalized amendments to the capital framework, announced a review of the prudential framework for groups.

    November 03, 2022 WebPage Regulatory News

    BIS Hub and Central Banks Conduct CBDC and DeFI Pilots

    The Bank for International Settlements (BIS) Innovation Hubs and several central banks are working together on various central bank digital currency (CBDC) pilots.

    November 03, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8596