The Malta Financial Services Authority has issued the amended Banking Rule BR/03 on Own Funds of Credit Institutions authorised under the Banking Act 1994 after consultation with credit institutions and other relevant stakeholders following a Note for consultation issued on the 30 October 2009.
BR/03 transposes the requirements of Chapter 2 – ‘Technical Instruments of Prudential Supervision of EU Directive 2006/48/EC and CEBS Guidelines on Prudential Filters for Regulatory Capital dated 21 December 2004. The Rule shall come into force with immediate effect. The first official schedule submitted in line with the new Appendix 1 is to be dated 31 March 2010.