Banking Act (Supervisory Review) (Amendment) Regulations, 2019

Suppliment tal-Gazzetta tal-Gvern ta’ Malta Nru. 20,171, 16 ta’ April, 2019 B 367

Taqsima B

L.N. 76 of 2019

BANKING ACT

(CAP. 371)

Banking Act (Supervisory Review) (Amendment) Regulations, 2019

IN EXERCISE of the powers conferred by article 3 of the

Banking Act, the Minister responsible for the regulation of Financial

Services, acting on the advice of the Malta Financial Services

Authority, has made the following regulations:-

The title of these regulations is the Banking Act Citation.

(Supervisory Review) (Amendment) Regulations, 2019 and these

regulations shall be read and construed as one with the Banking Act S.L. 371.16.

(Supervisory Review) Regulations, hereinafter referred to as ''the

principal regulations''.

Sub-regulation (1) of regulation 2 of the principal Amends

regulation 2 of

regulations shall be amended as follows

the principal

regulations.

(a) immediately after the definition ''the CRR'' thereof,

there shall be added the following new definition

'' ''EU parent institution'' means the same as that

meaning assigned to it in point (29) of Article 4(1) of the

CRR;''; and

(b) immediately after the definition ''internal approach''

thereof, there shall be added the following new definition

'' ''parent institution in Malta" means an institution

in Malta which has an institution or a financial institution

as a subsidiary or which holds a participation in such an

institution or financial institution, and which is not itself

a subsidiary of another institution authorised in Malta, or

of a financial holding company or mixed financial

holding company set up in Malta;''.

Regulation 18 of the principal regulations shall be Amends

regulation 18 of

amended as follows

the principal

regulations.

(a) in paragraph (b) of sub-regulation (2) thereof, for the

words, "the number of parent institutions”, there shall be

substituted the words, "the number of parent institutions in Malta

and EU parent institutions";

(b)

in sub-regulation (3) thereof

(i) in paragraph (b), for the words, "the number of

parent institutions'', there shall be substituted the words,

"the number of parent institutions in Malta and EU parent

institutions";

(ii) in sub-paragraph (i) of paragraph (c) for the

words, "own funds of parent institutions'', there shall be

substituted the words, "own funds of parent institutions in

Malta and EU parent institutions";

(iii) in sub-paragraph (ii) of paragraph (c), for the

words, "own funds of parent institutions'', there shall be

substituted the words, "own funds of parent institutions in

Malta and EU parent institutions"; and

(iv) in sub-paragraph (iii) of paragraph (c), for the

words, "own funds required under Article 92 of the CRR of

parent institutions'', there shall be substituted the words,

"own funds required under Article 92 of the CRR of parent

institutions in Malta and EU parent institutions".

€0.09