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03/05/2024 12:00:00

Repeal of CBM Directive No. 18 on Moratorium on Credit Facilities

Following the end of the moratorium period established in Directive No. 18 and the stabilisation of the economic activities post COVID-19, the Central Bank of Malta announces the repealing of Directive No. 18 regarding the moratorium on credit facilities in exceptional circumstances, with immediate effect.

The Directive came into force on the 13 April 2020 in response to the COVID-19 outbreak, providing guidelines for credit and financial institutions regarding the granting of moratoria on capital and interest payments. This temporary measure aimed to alleviate financial burdens on borrowers impacted by the pandemic, allowing flexibility in loan repayments.

The repeal of Directive 18 signifies a transition towards regular banking operations, with borrowers resuming to their normal repayment schedules in accordance with their loan agreements.

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