Malta: Financial Sector Assessment Program-Technical Note-Banking Supervision

November 21, 2019

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Malta: Financial Sector Assessment Program-Technical Note-Banking Supervision, (USA: International Monetary Fund, 2019) accessed December 3, 2024

Summary

This technical note on banking supervision for Malta focusses on selected topics in relation to the supervision of less significant institutions, which are not directly supervised by the European Central Bank, and on non-European Union branches. The Malta Financial Services Authority’s (MFSA) internal organization reflects its role of an integrated supervisor, and several units are involved in supervision and/or enforcement. Review of supervisory measures reveals that the MFSA has taken decisive action in several instances, but such actions have not been timely. A new organizational structure of the MFSA has been proposed recently. Developing resources devoted to enforcement will enable the unit to spend less time on the preparation of the sanctions and more time on ongoing supervisory monitoring. Involving the head of enforcement and the General Counsel in the decision-making process is positive. The report recommends developing a five-year plan to increase the MFSA’s budgetary resources and capacity to reflect the size and importance of the financial sector in Malta.

Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Bank supervision, Banking, Credit, Credit risk, Crime, Financial institutions, Financial regulation and supervision, Financial Sector Assessment Program, Money, Nonperforming loans

Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), Bank supervision, CR, Credit, Credit institution, Credit risk, Credit risk, Human resources, ISCR, License holder, MFSA staff handbook, Nonperforming loans, Recruitment process, Risk management, Supervisory council

Publication Details

Pages:

51
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2019/347
Stock No:

1MLTEA2019006
ISBN:

9781513520841
ISSN:

1934-7685

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