News - News Releases 2023
10/10/2023 12:15:00
The Central Bank of Malta issues the CBM Directive No. 20 on Cross-Border Payments
In September 2009, the European Parliament issued Regulation (EC) No. 924/2009 of the European Parliament and of the Council of 16 September 2009 on cross-border payments in the Community and repealing Regulation (EC) No. 2560/2001, with the aim of facilitating cross-border transactions within the European Union. For the purposes of Article 9 of such Regulation, the Central Bank of Malta was appointed as the competent authority. Regulation (EC) No. 924/2009 was substantially amended several times and, in the interests of clarity and rationality, such Regulation was codified into Regulation (EU) 2021/1230 of the European Parliament and of the Council of 14 July 2021 on cross-border payments in the Union.
The Central Bank of Malta issued CBM Directive No. 20 on Cross-Border Payments which stipulates that the Bank remains the competent authority for the purpose of Regulation (EU) 2021/1230.
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