Regulatory Alerts2017-11-07
Added · Updated
Circular on Ongoing Own Funds Requirements for Payment and Electronic Money Institutions
The Malta Financial Services Authority mandates that Payment Institutions calculate their ongoing own funds requirements using Method B as specified in Financial Institutions Rule FIR/02. Electronic Money Institutions must apply Method D for electronic money issuance and Method B for any related payment services, holding total funds equal to the sum of both calculations. Institutions are required to submit a calculation template by 15 February 2018 and subsequently file it quarterly starting in the first quarter of 2018, ensuring the amount meets or exceeds the initial capital requirement stated in their licence letter.