Regulatory Alerts2022-12-20
Added · Updated
Thematic Review on Climate-Related and Environmental Risks – Less Significant Institutions
The MFSA requires banks in Malta to strengthen governance arrangements by improving their understanding of climate-related and environmental risks, integrating these risks into risk management frameworks, and engaging with customers to collect data for disclosure obligations. The review found that banks are in the early stages of preparation and lack comprehensive systems to evaluate risk drivers or map physical risk impacts to financial risks. Banks are instructed to accelerate their preparations and present progress to the MFSA to align with supervisory expectations set out in the ECB's guide.
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