Regulatory Alerts2021-01-15
Added · Updated
Circular to Credit Institutions on the treatment and reporting of moratoria on loan repayments applied in the light of the COVID-19 crisis
Credit institutions licensed under the Banking Act must apply preferential forbearance classification to legislative and non-legislative moratoria granted in line with Central Bank of Malta Directive No. 18, EBA Guidelines, or granted prior to 13 April 2020. Moratoria granted voluntarily and individually after 13 April 2020 that do not fully align with Directive No. 18 or EBA Guidelines are ineligible for this preferential treatment. For supervisory reporting under Banking Rule 23, institutions must classify eligible moratoria as COVID-19-related forbearance and non-eligible ones as other moratoria, while adhering to EBA reporting instructions and FAQs.
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