The Central Bank of Malta (the Bank) was established by the Central Bank of Malta Act (the Act) on 17th April 1968. On 1st May 2004 the Bank joined the European System of Central Banks (ESCB) and on 1st January 2008 it became part of the Eurosystem. The Bank is primarily responsible for maintaining price stability through the formulation and implementation of monetary policy. It is also responsible for ensuring the stability of the financial system and to promote a sound and efficient payment system through overseeing and regulation of the operation of, and participation in, payment systems. In its financial system stability role, the Bank has been appointed as the designate authority for the purposes of implementing macro-prudential policy, as stipulated in the relevant legislation, through macro-prudential tools and instruments such as Directives issued in terms of the Act. Moreover, the Bank is the authority responsible for the administration of the Central Credit Register in Malta – which is a database which contains non-anonymous exposure-by-exposure information of debtors, both legal and natural persons, provided by resident credit institutions (banks). The Bank also maintains other direct relations with credit (and financial) institutions in as much as it:
- may act as banker to credit (and financial) institutions.
- may accept deposits from credit (and financial) institutions.
- may appoint credit institutions as agents in exceptional circumstances.
- shall seek co-operation and shall co-operate with credit (and financial) institutions.
