Beginning of 2012 heralds Initiatives to Strengthen Systemic St

Jonathan Pisani | Published on 12 Jan 2012

Ccmalta Default


The Malta Financial Services Authority and the National Bank of Slovakia have announced steps to further strengthen systemic stability of financial institutions in Malta and the Slovak Republic.  These single financial services regulators have announced a deepening of co-operation in supervision and regulation of the financial services sector.  The NBS was established on the 1st January 1993 as the central bank of the Slovak Republic.  It ceded its responsibility for the monetary policy of the Slovak Republic to the ECB when Slovakia joined the Euro in January 2009.  The role of financial services regulator was adopted instead.  
Cooperation between the MFSA and NBS traces its roots back to 2004.  The MSFA and NBS had agreed to co-operate in the financial regulation and surveillance of their banks.  The recent Memorandum of Understanding between these Regulators extends this framework of co-operation.  Information regarding the fields of insurance and securities markets regulation shall also be shared with a view to increase stability of these sectors too. 

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