23/10/2025 10:52:00

The Central Bank of Malta updates Directive No. 14 and Directive No. 15

The Central Bank of Malta published updates to  Directive No. 14 on the Establishment and Operation of the Central Credit Register and  Directive No. 15 on the Supervision of the Credit Reference Agencies.

As part of the CCRv2 project, the amended Directive No. 14 expands the list of Central Credit Register reporting institutions to include:

• financial institutions; and
• financial vehicle corporations;

that hold exposures meeting at least one of the criteria outlined in the Directive.

The first reporting obligation for these newly designated reporting institutions will commence following a preparatory period not exceeding six months from today. During this preparatory period, such reporting institutions are expected to establish the necessary operational, technical, and compliance frameworks to meet the reporting requirements. Once the preparatory period concludes, the reporting obligations as set out in Directive No. 14 shall apply to all reporting institutions.

The amended Directive No. 15 introduces a change allowing credit reference agencies to use anonymised granular data provided by the Bank in the development or provision of products related to creditworthiness assessment, including for benchmarking and monitoring purposes. This is permitted on the condition that the agencies publicly disclose the methodologies used in the issuance of such products.

Additionally, both Directives have been revised to address technological advancements and the growing demand for data. These enhancements aim to improve data collection and dissemination, ultimately strengthening the assessment of creditworthiness for both prospective and existing counterparties. 

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