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Relations with international institutions

The Central Bank of Malta is a member of the European System of Central Banks (ESCB). The Governor and other officials of the Bank participate in the activities of the ESCB.

The ESCB is composed of the European Central Bank (ECB) and the national central banks (NCBs) of all European Union Member States. 

The ECB and the NCBs of those EU member states that have adopted the euro comprise the Eurosystem. Besides the Central Bank of Malta, the other NCBs that form part of the Eurosystem are: Banque Nationale de BelgiqueCentral Bank of CyprusDeutsche BundesbankEesti PankBanco de España, Banque de France, Bank of GreeceCentral Bank of Ireland,   Banca d'ItaliaLatvijas BankaLietuvos BankasBanque centrale du LuxembourgDe Nederlandsche BankOesterreichische NationalbankBanco de PortugalBanka SlovenijeNárodná banka Slovenska, and Suomen Pankki. The other members of the ESCB include: Bulgarian National BankCeská Národní BankaDanmarks NationalbankHrvatska Narodna BankaMagyar Nemzeti BankNarodowy Bank PolskiBanca Nationala a României, and Sveriges Riksbank.

The Bank also maintains relations with international economic and financial institutions of which Malta is a member. These institutions include the International Monetary Fund (IMF), the World Bank Group (WBG), the European Bank for Reconstruction and Development (EBRD) and the Asian Infrastructure Investment Bank (AIIB).

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The Bank regularly monitors developments within all these institutions and co-operates with such institutions in furthering the implementation of new initiatives falling within their mandate, particularly those related to international monetary and financial stability and economic development.

The Bank also advises the Ministry for Finance and Employment on selected issues related to the IMF, the WBG, the EBRD and the AIIB.  The Governor of the Central Bank of Malta and the Minister for Finance and Employment participate in the meetings of these international entities.

The IMF maintains close links with the monetary authorities in member states in order to ensure a stable international monetary and exchange rate system. The close relationship between the Bank and the IMF stems from statutory obligations assumed when Malta joined the Fund in 1968.

The Bank also maintains the status of observer at the Bank for International Settlements (BIS) and is a non-voting member at the European Banking Authority (EBA).

The Bank is involved in numerous projects aimed at fostering and deepening the Bank’s ties of co-operation with other central banks in the Mediterranean region and beyond. The Bank carries out research in relevant sectors and on policy issues, including matters pertinent to social and political stability and geopolitical risk relating to non-EU countries.

Governors' ex ufficio role

The Governor of the Central Bank of Malta has been a member of the General Council of the ECB since 1 May 2004, when Malta joined the European Union, and a member of the ECB's Governing Council since 1 January 2008, when Malta adopted the euro as its currency.

The Governor accompanies the Minister for Finance and Employment at the informal meetings of the Economic and Financial Affairs (ECOFIN) Council of the EU. The Deputy Governor responsible for Monetery Policy represents the Bank at the Economic and Financial Committee (EFC), which advises the Council on economic and financial matters. Other staff members participate in the Committee for Monetary, Financial and Balance of Payments Statistics (CMFB), which assists the European Commission in drawing up and implementing work programmes concerning statistical issues.

The Governor has been a member of the General Board of the European Systemic Risk Board (ESRB) since its establishment on 1 January 2011.

Officials from the Central Bank of Malta participate in various committees of the EU, the ESCB and the ESRB.

The Governor represents Malta on the Board of Governors of the IMF, the EBRD and of the AIIB, while also fulfilling the role of Alternate Governor in the WBG.

The Deputy Governor responsible for financial stability is a member of the ECB Supervisory Board.  The Deputy Governor attends meetings of the EBA as a Central Bank of Malta representative, along with officials from the Malta Financial Services Authority. The Deputy Governor is also a non-voting member of the Board of Supervisors of the EBA.