Skip to main content
Home
Subscribe
Media
Library
Contact Us
[0] Items in your Shopping Cart
Aa
Search Box
About Us
Mission Statement
Our Role & Functions
Governance
Our History
Balance Sheet
Career Opportunities & Training
Procurement
Financial Literacy
Legislation
Publication of Calendars
CBM Art, Culture & Heritage
Opening Times
Quick Questions and Answers
FAQs
Monetary Policy
Monetary Policy Instruments
Eligible Assets & Counterparties
Asset Purchase Programme
Pandemic Emergency Purchase Programme
Financial Stability
Macroprudential Analysis & Oversight
Macroprudential Policy
Crisis Management
Financial Stability Notifications & Consultations
Payment Systems
Interbank Payment Systems
Retail Payment Systems & Services
Securities Settlement Systems
Oversight
Regulation
Statistics
Market Operations
Malta Government Stocks
Market Data
Treasury Bills
Money Market Reports
Legal opinions on enforceability of master agreements
Currency
Euro Banknotes
Euro Coins
Numismatic Issues
Legal Framework
Exchange of Maltese Lira Fifth Series Banknotes
Currency Museum
Statistics
Monetary and Banking
Investment Funds
Insurance Undertakings
Financial Vehicle Corporations
Interest Rates & Other Key Financial Market Rates
Securities Issues
Financial Accounts
Government Finance
Financial Soundness Indicators
External
Payment Systems
Real Economy Indicators
Exchange Rates
Economics
Business Conditions Index
Household Finance and Consumption Survey
Wage Dynamics Network
Economic Time-Series for Research Purposes
Macro-econometric models
Regulatory Compliance
Legal Department
Code of Ethics
Anti-Money Laundering
Data Protection
Freedom of Information
Main Menu
About Us
Monetary Policy
Financial Stability
Payment Systems
Market Operations
Currency
Statistics
Economics
Regulatory Compliance
Home
Sitemap
Sitemap
Home
About us
Mission statement
Our role and functions
Relations with local institutions
International relations
Maintenance of price stability
Reserves management
Banker to the banks and the public sector
Ensuring financial stability
Relations with international institutions
Economic analysis and research
Collecting, compiling, disseminating and publishing statistics
Promoting & supporting the development of financial markets & efficient payment & settlement systems
Formulation and implementation of a macro-prudential policy
Governance
Board of Directors
Professor Edward Scicluna
Mr Oliver Bonello
Mr Alexander Demarco
Professor Frank Bezzina
Ms Philomena Meli
Professor Peter J. Baldacchino
Dr Romina Cuschieri
Organisational structure
Assurance
Management of Risk
Our history
History of premises
Coat of arms
Governors past and present
Balance sheet
Career Opportunities and Training
Career Opportunities
Current Vacancies
Staff Social Club
Training
Training opportunities
Learning Research and Development Study Programme
ESCB work experience
Procurement
Archive of past tenders
Financial Literacy
Legislation
Central Bank of Malta Act
Central Bank of Malta Directives
Publication of calendars of the Central Bank of Malta Members of the European Central Bank Governing Council and Supervisory Board
CBM Art, Culture & Heritage
Gabriel Caruana (1929-2018)
Harry Alden (1929-2019)
Ġanni Bonnici (1932-2019)
Philip Chircop (1943-2019)
Reflecting on Malta’s vocation as a hub for healthcare and medical education 100 years after the end of WWI
Victor Pasmore (1908-1998)
Opening Times
Quick Questions and Answers
Distributed Ledger Technology and Virtual currencies
Gender inequality in the workforce
Anti-Money Laundering/Combating the Financing of Terrorism
Network for Greening the Financial System
Financial Literacy
COVID-19 & Monetary Policy Operations
International Monetary Fund
The importance of IT during the COVID-19 Pandemic
FAQs
Monetary policy
Monetary policy instruments
Eligible assets and counterparties
Asset Purchase Programme (APP)
Pandemic Emergency Purchase Programme (PEPP)
Financial Stability
Macroprudential analysis and oversight
2021 EU-Wide Stress Test
2018 EU-Wide Stress Test
2016 EU-Wide Stress Test
2015 Comprehensive Assessment
2014 Comprehensive Assessment
EBA 2011 EU-wide stress testing exercise
CEBS 2010 EU-wide stress testing exercise
Macroprudential policy
Tools
Countercyclical Capital Buffer
2021
2020
2019
2018
2017
2016
Systemically Important Institutions
Borrower-Based Measures
Reciprocity
Crisis management
Financial Stability Notifications and Consultations
Payment Systems
Interbank payment systems
Retail payment systems and services
The Single Euro Payments Area (SEPA)
International Bank Account Number (IBAN)
Malta Clearing House
Interchange Fee Regulation (IFR)
The revised Payment Services Directive (PSD2)
Securities settlement systems
Oversight
Oversight standards
Domestic payments and securities settlement system
Eurosystem Oversight Report
Regulation
Statistics
Market Operations
Malta Government Stocks
Malta Government Stocks - Archive
Weekly Bulletin Report
MGS Time Series
Market Data
Weekly CBM MGS Turnover
Treasury Bills
Treasury Bills - Archive
Money Market Reports
Money Market Reports - Archive
Legal opinions on enforceability of master agreements
Currency
Euro Banknotes
Counterfeit notes
Damaged Notes
The Europa series €100 and €200 banknotes
The Europa series €50 banknote
The Europa series €10 banknote
The Europa series €20 banknote
The Europa series €5 banknote
Launch of the Europa Series €5 banknote - May 2013
ECB Press Conference - 10 January 2013
ECB Press Conference - 8 November 2012
Euro Coins
Numismatic Issues
All Products
Auberge de Provence
Europa Programme 2013 with the theme 'European Writers' - Dun Karm Psaila
The Picciolo
Grand Master Emmanuel Pinto
Europa Programme 2012 with the theme 'European Artists' - Antonio Sciortino (1879-1947)
Europa Programme 2011 with the theme 'Explorers' - Phoenician explorers
Europa Programme 2010 with the theme of 'Cultural Heritage' - Auberge d'Italie
Europa Programme 2009 with the theme of 'Cultural Heritage' - Castellania
Europa Programme 2008 with the theme of 'Cultural Heritage' - Auberge de Castille
Europa Programme 2007 with the theme 'European Realisation' - Grand Master Jean de La Valette
Distinguished Maltese personalities series -Temi Zammit (1864-1935)
Distinguished Maltese personalities series - Giuseppe Calì (1846-1930)
EU accession
Distinguished Maltese personalities series - Sir Adriano Dingli (1817-1900)
Distinguished Maltese personalities series - Nicolò Isouard (1775-1818)
Royal Mint Precious Fine Gold Collection - Xprunara
Distinguished Maltese personalities series - Enrico Mizzi (1885-1950)
Millennium Coin
300th Anniversary of the death of painter Mattia Preti
200th Anniversary of the Revolt against the French
30th Anniversary of the Central Bank of Malta
UNICEF For the Children of the World
50th Anniversary of the United Nations
25th Anniversary of the Central Bank of Malta
50th Anniversary of the award of the George Cross to Malta
Save the Children Fund
20th Anniversary of the EEC-Malta Association Agreement
Visit of HH Pope John Paul II to Malta
25th Anniversary of Malta's Independence
Malta Maritime History set - Dwejra II
Malta Maritime History set - Valetta City
Malta Maritime History set - L'Isle Adam
Malta Maritime History set - Wignacourt
Malta Maritime History set - Tigre
Malta Maritime History set - Strangier
Malta Maritime History set - Providenza
Sir Paul Boffa
Europa Programme 2014 with the theme 'European Composers' – Maestro Charles Camilleri
The Zecchino
1st series - Manwel Dimech
1st series - Fort St Angelo
1st series - Kenur, stone stove
1st series - Merill, Malta's national bird
1st series - Statue of Neptune
2nd series - Temi Zammit
2nd series - Mdina Gate
2nd series - Gardjola
2nd series - Dolphin fountain, Floriana
2nd series - Auberge de Castille
3rd series - Giovanni Francesco Abela
3rd series - Notre Dame Gate
3rd series - Centaurea, Malta's national flower
3rd series - Gozo boat
3rd series - First Maltese coin
4th series - Old Arms - Alfons Maria Galea
4th series - Old Arms - St Agatha's Tower
4th series - Old Arms - Maltese falcon
4th series - Old Arms - Fresh water crab
4th series - Old Arms - Stone balcony
5th series - Ġużè Ellul Mercer
5th series - Fort Manoel Gate
5th series - Butterfly
5th series - Storm Petrel
5th series - Maltese door knocker
6th series - Maltese dog
6th series - Sir Luigi Preziosi
6th series - Xarolla windmill
6th series - First Gozo coin
6th series - Mnara
6th series - Les Gavroches bronze sculpture
End of military facilities
FAO World Food Day
UNICEF Year of the Child
International Year of Disabled Persons
FAO First World Fisheries Conference
UN Decade for Women
Malta Maritime History set - Malta
Malta Maritime History set - Maria Dacoutros
Malta Maritime History set - Tagliaferro
Malta Maritime History set - Knight of Malta
Malta Maritime History set - Saver
20th Anniversary of the Central Bank of Malta
400th Anniversary of the University of Malta
World Cup
Schooner 'Valletta' ship and explorer
50th Anniversary of the United Nations
Olympic Games
430 years in defence of Christian Europe
First World War Centenary
Auberge d'Aragon
1st series - Hand holding flaming torch with map of Malta in the background
1st Anniversary of Republic
Malta Independence 50th Anniversary
40th Anniversary of the Republic of Malta
400th Anniversary of the Wignacourt Aqueduct
One-third farthing
450th Anniversary of the Great Siege of Malta
Auberge de Bavière
Pope John Paul II
Bush-Gorbachev Malta Summit
Modern 20th century 'Dangerous Sport' - Antonio Sciortino
450th anniversary of the foundation of Valletta
100th Anniversary of the birth of Dom Mintoff
Patakka
Malta’s Presidency of the European Council of the European Union
Argotti Botanical Gardens Conservatory
The Santa Marija Convoy and the George Cross Award
70th Anniversary of Women’s Voting Rights
Maritime Aviation Medal
The Baptism of Christ
50th Anniversary of the Central Bank of Malta
Ten years of the euro in Malta
Valletta European Capital of Culture 2018
Melita bullion coins 2018
Gran Carracca Sant’Anna of the Order of St John
The Sette Giugno Riots Centenary
L'Isle Adam Graduals
250th Anniversary of Beethoven's Birth
250th Anniversary of the University of Malta
550th Anniversary of Albrecht Dürer's Birth
25th Anniversary of Junior College
225th Anniversary of the Bibliotheca Building
Gold, Silver and Other metals
Gold
Silver
Other Metals
€2 Commemorative Coins
€2 Commemorative - 10th Anniversary EMU
€2 Commemorative - First Elected Representatives 1849
€2 Commemorative - 10 Years of the Euro
€2 Commemorative - Majority Representation 1887
€2 Commemorative - Self-government 1921
€2 Commemorative - Malta Police Force Bicentenary
€2 Commemorative - Independence 1964
€2 Commemorative - Republic 1974
€2 Commemorative - Centenary of the first flight from Malta
€2 Commemorative - 30th Anniversary of the EU Flag
€2 Commemorative - Ġgantija Temples
€2 Commemorative - Solidarity through Love
€2 Commemorative - Ħaġar Qim Temples
€2 Commemorative - Peace
€2 Commemorative - Mnajdra Temples
€2 Commemorative - Cultural Heritage
€2 Commemorative - Nature and Environment
€2 Commemorative - Ta' Skorba Temples
€2 Commemorative - Games
€2 Commemorative - Heroes of the Pandemic
Circulation Coins
Dated Sets
Dated Set 2020
Dated Set 2019
Dated Set 2018
Dated Set 2017
Dated Set 2016
Dated Set 2015
Dated Set 2014
Dated Set 2013
Dated Set 2012
Dated Set 2011
Dated Set 2008
Dated Set 2007
Dated Set 2006
Dated Set 2005
Annual Coin Programmes
Other Products
50th Anniversary Independence of Malta (Silver Coin & Stamp Set)
Jean de la Valette Medal
100th Anniversary End of World War I - Philatelic numismatic cover
Legal Framework
Exchange of Maltese Lira Fifth Series Banknotes
Currency Museum
Timeline Coins
Timeline Banknotes
Economic analysis and research
Business Conditions Index
Household Finance and Consumption Survey
Macro-econometric models
STREAM
MEDSEA
Economic Time-Series for Research Purposes
Wage Dynamics Network
Historical Annual Database
Sample surveys
Statistics
Monetary and Banking
Investment Funds
Insurance Undertakings
Interest Rates and Other Key Financial Market Rates
Securities Issues
Financial accounts
Government finance
Financial Soundness Indicators
External
Official Reserve Assets
Methodological Notes
Template on International Reserves and Foreign Currency Liquidity Data
Official Reserve Assets - Methodological Notes
Template on International Reserves and Foreign Currency Liquidity - Methodological Notes
Real economy indicators
Special Data Dissemination Standard (SDDS)
Euro area indicators
Statutory returns, report forms and instructions
Advance Release Calendar
Related links
FAQs - Statistics
Classifications
INFOSTAT Respondents' Portal
Automated Support
The implementation of the ECB’s AnaCredit Regulation in Malta
Financial Vehicle Corporations
Regulatory Compliance
Legal Department
Local and EU Legislation
Code of Ethics and other policies
Anti-Money Laundering
Data Protection
Freedom of Information
News
Subscribe
Manage subscription
Contact Us
Postal Addresses
Contacts
Exchange rates
Other indicative foreign exchange rates
Average exchange rates
Historic exchange rates
CBM middle exchange rates by date
CBM middle exchange rates by currency
Reports and Articles
Reports and Articles 2013
Reports and Articles 2014
Reports and Articles 2015
Financial Sector Assessment Programme Seminar
Reports and Articles 2016
Reports and Articles 2017
Reports and Articles 2018
Reports and Articles 2019
Reports and Articles 2020
Media
Social Media Policy
Disclaimer & Copyright
Accessibility
Data Protection Privacy Statement
External Links
Restricted Access
Central Credit Register
Central Credit Register (CCR) Extract Request Form
Central Credit Register (CCR) Thanks
Credit Reference Agencies
Register of Credit Reference Agencies
Publications
Economic Update
2021
2020
2019
2018
2017
2016
2015
2014
2013
2012
2011
2010
Quarterly Review
2020
2019
2018
2017
2016
2015
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
Annual Report
Financial Stability Report
Economic Research
2021
2021
2021
The Shifting Structure of the Maltese Economy: Evidence from Chain-Linked Data (2021)
A hedonic assessment of the relative importance of structural, locational and neighbourhood factors on advertised rents in Malta (2021)
An analysis of the distribution and price determinants of Airbnb rentals in Malta (2021)
2020
2020
2020
Measuring the effects of structural reforms in Malta (2020)
Are the European Commission’s Business and Consumer Survey Results Coincident Indicators for Maltese Economic Activity? (2020)
Optimal Factor Taxation in a Scale Free Model of Vertical Innovation (2020)
Real convergence in Malta and in the EU countries after the financial crisis (2020)
How do estimates of inflation persistence in Malta compare with other EU countries? (2020)
The use of the Eurosystem’s monetary policy instruments and its monetary policy implementation framework between the first quarter of 2018 and the fourth quarter of 2019 (2020)
The use of the Eurosystem’s monetary policy instruments and its monetary policy implementation framework between the first quarter of 2018 and the fourth quarter of 2019 (2020)
The Determinants of Well-Being During a Time of Economic Growth: The Case of Selected European Union Member States (2020)
2019
2019
2019
From a deficit to a surplus country – The case of Malta (2019)
Estimates of input-output multipliers for the Maltese economy based on the symmetric input-output table for 2010 (2019)
Time variation, asymmetry and threshold effects in Malta's Phillips curve (2019)
A reassessment of external demand’s contribution to Malta’s economic growth (2019)
SMEs as drivers of economic growth: The case of Malta (2019)
Wealth Effects on Consumption in Malta: Evidence from Household Level Data (2019)
Income and Wealth Inequality in Malta (2019)
Understanding low wage growth in the euro area and European countries (2019)
Comparing Fiscal Consolidation Multipliers across Models in Europe (2019)
Population Projection Revisions and Their Impact on Economic Growth – The Case of Malta (2019)
The evolution of Malta's Tourism Sector (2019)
2018
2018
2018
Constructing an index to examine house price misalignment with fundamentals in Malta (2018)
Fiscal compact and debt consolidation dynamics (2018)
Estimating the impact of structural reforms to increase the female participation rate in Malta (2018)
What makes pension reforms sustainable? (2018)
About Local Projection Impulse Response Function Reliability (2018)
Structural policies in the euro area (2018)
Constructing a Financial Condition Index for a small-open economy: The case of Malta (2018)
2017
2017
2017
Empirical estimates of Okun’s law in Malta (2017)
Low inflation in the euro area: causes and consequences (2017)
The impact of pension age changes - the case of Malta (2017)
A sectoral supply-side model to assess the impact of labour market reforms in Malta (2017)
Comparing state pension reforms in EU countries before and after 2008 (2017)
Did Malta’s accession to the EU raise its potential growth? A focus on the foreign workforce (2017)
2016
2016
2016
Saving and investment behaviour in the euro area (2016)
A multivariate filter to estimate potential output and NAIRU for the Maltese economy (2016)
The adjustment of Maltese firms to the post-crisis economic environment: evidence from a firm-level survey (2016)
Labour market modelling in the light of the financial crisis (2016)
The role of asymmetries and banking sector indicators in the interest rate pass-through in Malta (2016)
Drivers of low inflation in Malta after the crisis (2016)
Sectorial ULCs as Measures of Competitiveness: An Analysis of Southern Euro Area Economies (2016)
Determinants of labour productivity in Malta: Evidence from a Firm-level Survey (2016)
2015
2015
2015
Evaluating the possible impact of pension reforms on elderly poverty in Europe (2015)
The social sustainability of pensions in Europe (2015)
Pension reforms in the 1990s and during the financial crisis: More of the same? (2015)
Assessing the impact of the reforms in Europe on the sufficiency of pensions (2015)
Public debt, population ageing and medium-term growth (2015)
Structural changes in the Maltese economy (2015)
Pension reforms since the financial crisis could have a serious impact on the future retirement incomes of young Europeans (2015)
Assessing potential output growth of the Maltese economy using a production function approach (2015)
The financial crisis and differences in state pension generosity across EU countries (2015)
Convergence or divergence? How the financial crisis affected European pensioners (2015)
Pension policy design changes in EU countries since the mid-1990s (2015)
Comparing fiscal multipliers across models and countries in Europe (2015)
Results of the 2014 Wage Dynamics Network for Malta (2015)
Analysing correlation between the MSE index and global stock markets (2015)
2014
2014
A reassessment of the sustainability of pension reforms in Europe (2014)
British tourism demand elasticities in Mediterranean countries (2014)
Assessing the sustainability of pension reforms in Europe: a pension wealth approach (2014)
The demand for currency in Malta (2014)
Introducing explicit pension age changes as in the UK is not the end of the line (2014)
French and German tourism in the Mediterranean - a market share analysis (2014)
Pension policy design: The core issues (2014)
2013
2013
Assessing the sustainability of pension reforms in Europe (2013)
Adapting the Hodrick-Prescott filter for very small open economies (2013)
Pension reform sustainability in the EU: A pension wealth-based framework (2013)
How best to measure pension adequacy (2013)
Reforms across Europe linking pension benefits to contributions may push some elderly into poverty (2013)
Pre-2013
Staff Workshops
Books
Research Bulletin
Economic projections
Archive of economic projections
CBM Business Dialogue
The Library
Library Rules
Library Search
Ask a Librarian
Book Purchase Request
Coronavirus (COVID-19) Updates
Central Bank of Malta Foundation
Governor's Corner
ECB Annual Retreat 2021
Governor of the Central Bank of Malta attends EBRD’s 30th Annual Meetings
Mediterranean Central Bank Governors discuss post-COVID-19 recovery
CBM sign an updated MoU with the Malta Statistics Authority and the National Statistics Office
Governor’s meeting with Mr Frédéric Kaplan, Minister Counsellor for Economic Affairs and new Head of the French Economic Regional Service for South-East Europe
Informal ECOFIN Council Meeting 21-22 May - Lisbon, Portugal
Bilateral Courtesy Meeting between Ambassador of Italy H.E. Fabrizio Romano and the Governor
Governor's meeting with the Ambassador of Greece H.E. Dimitrios G. Tsoungas
Phishing Scam Alert
Scam Alert