ECB asks banks not to pay dividends or buy back shares during COVID-19 pandemic Recommendation concerns dividends for 2019 and 2020, at least until 1 October 2020 ECB expects banks to keep funding households, small businesses and corporations The European Central Bank (ECB) today updated...
As trillions upon trillions of euro-dollars and bailout money are willed into existence to cushion the coronavirus blow, the risk of another financial meltdown and hyperinflation has never been greater. Right now, everyone is preoccupied with the health aspect of the crisis and dealing with the...
Government covering first 2.5% for first two years The government has reached an agreement with all commercial banks to limit the interest rate on capital working loans to 3.5%. The government has already announced a scheme whereby it will be covering the first 2.5% of the interest...
All Maltese banks are maintaining as a minimum 50% of their branch capacity on weekdays and 25% of Saturdays, MFSA says. Despite the challenges brought about by the COVID-19 crisis, banks around Malta are still maintaining at least 50% of their normal weekday branch capacity, and...
Fitch Ratings has revised Malta's Outlook to Stable from Positive, while Moody's has affirmed the country's A2 rating. Fitch said its outlook revision reflects the significant impact of the global coronavirus pandemic on Malta's economy and public finances. Fitch said it forecasts real GDP to contract 5.9%...
During a Press Conference, Minister for Finance and Financial Services Prof. Edward Scicluna and Parliamentary Secretary for Financial Services and Digital Economy Clayton Bartolo announced more financial assistance to ease businesses’ liquidity constraints due to COVID-19 pandemic. Following the launch of the Tax Deferral Scheme and...
The Minister responsible for public health, with the concurrence of and in consultation with the Minister for Finance and Financial Services, issued the Moratorium on Credit Facilities Regulations in Exceptional Circumstances through Legal Notice 142 of 2020. Credit and financial institutions licensed by the Malta...
The International Monetary Fund (IMF) has advised Malta to continue addressing deficiencies identified in the framework linked to fighting anti-money laundering and combating the financing of terrorism (AML/CFT) in order to mitigate financial integrity risks in the country. In the conclusion of its Article IV consultation...
In normal times, the role of development banks is to address investment gaps, sometimes called market failures, by offering financing facilities and guarantees to support new investment in productive and viable operations where the commercial banks are unable or unwilling to accommodate on their own...
On the 20th March, the Maltese Government announced a tax deferral scheme to assist local businesses to improve their business liquidity and ease pressures on their cash flow arising from the economic impact of the coronavirus pandemic. Furthermore, the measures aim to encourage the retention...