Circular to Financial Institutions outlining COVID-19 measures on Timing of Statutory Reporting

Circular
Triq l-Imdina, Zone 1 Central Business District, Birkirkara CBD 1010 +356 2144 1155 communications@mfsa.mt www.mfsa.mt Circular to Financial Institutions outlining COVID-19 measures on Timing of Statutory Reporting Further to MFSA Circular on Timing of Regulatory Reporting due to outbreak of COVID-19 dated 20 March 2020, the MFSA is monitoring developments on an ongoing basis and understands that institutions may face increasingly difficult and unprecedented circumstances. In view of this, MFSA is hereby granting Financial Institutions authorised under the Financial Institutions Act one additional month for the submission of the below listed statutory reporting:

• Financial and statistical information data requirements pursuant to BD/06, with reference date
  end-March 2020;
• Other Banking Rules data requirements (Other BRs), with reference date end-March 2020;
• Prudential data requirements specific to the type of activity, with reference date end-March 2020.
  This means that the remittance date for the above statutory obligations is now set to 15 May 2020. For the time being, the postponement of remittance dates is only being considered for the specific reporting obligations as listed in this circular (i.e. for reference date end-March 2020). The MFSA will continue monitoring this extraordinary situation and may decide to grant further extensions as deemed necessary, informing institutions accordingly. In case resubmissions are required to amend data quality issues, the timeframe for updating, correcting and resubmitting the data will be analysed on a case-by-case basis and communicated bilaterally. 6 April 2020