Regulatory Alerts2020-12-24
Added · Updated
Circular to Credit Institutions on the materiality threshold for assessing credit obligations past due
The MFSA mandates that credit institutions licensed under the Banking Act apply the ECB Guideline's materiality thresholds for assessing past due credit obligations starting from 31 December 2020. A default is deemed to have occurred when both the absolute limit and the relative limit are exceeded for more than 90 consecutive days. The absolute limit is set at EUR 100 for retail exposures and EUR 500 for other exposures, while the relative limit is 1% of the total on-balance sheet exposures to the obligor, excluding equity exposures.
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