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09/01/2018

Central Bank of Malta publishes final text of the revised CBM Directive No 1

The Central Bank of Malta (the Bank) published today the final text of the revised CBM Directive No 1 on the Provision and Use of Payment Services which implements the provisions of Titles III and IV of the revised Payment Services Directive: Directive (EU) 2015/2366 of the European Parliament and of the Council of 25 November 2015 on payment services in the internal market, amending Directives 2002/65/EC, 2009/110/EC and 2013/36/EU and Regulation (EU) No 1093/2010, and repealing Directive 2007/64/EC. The revised Payment Services Directive (PSD2) aims to strengthen consumer protection, fosters greater competition and regulates new market players.

The Bank has also published a Post Consultation Report which includes the position adopted by the Bank in response to comments received by market participants during the public consultation on the implementation of the revised CBM Directive No 1 which closed on 7 July 2017. 

The revised CBM Directive No 1 on the Provision and Use of Payment Services will apply from 13 January 2018 and will repeal CBM Directive No 1 (Ref: CBM 01/2009). 

Leaflet issued by the Malta Bankers' Association

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