Governor's Interview with The Sunday Times -
In an interview with The Sunday Times published on 16 November 2008 Governor Michael C Bonello states that Maltese banks are not directly threatened by the financial crisis.
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The ECB's Governing Council reduces the minimum bid rate by 50 basis points -
At a meeting held on 6 November 2008 the Governing Council of the ECB took the following monetary policy decisions:
1. The minimum bid rate on the main refinancing operations of the Eurosystem will be decreased by 50 basis points to 3.25%, starting from the operation to be settled on 12 November 2008.
2. The interest rate on the marginal lending facility will be decreased by 50 basis points to 3.75%, with effect from 12 November 2008.
3. The interest rate on the deposit facility will be decreased by 50 basis points to 2.75%, with effect from 12 November 2008.
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Report on the consultation on payment services -
Following an extensive consultation process, the Central Bank of Malta has just published a report on reactions received to its ‘Consultative Document on Retail Payment Services Policy and the Payment Services Directive’, issued earlier this year. The Bank would like to thank the large number of domestic and international stakeholders who participated in the consultation process, providing a considerable amount of quality feedback.
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Central Bank of Malta issues Directive No. 10 on Banknote Recycling Framework -
Following a period of public consultation which ended in September this year, the Central Bank of Malta has issued a new Directive to regulate the redistribution, sorting and reissue (i.e. ‘recycling’) of euro banknotes. As a result of this Directive, banks, financial institutions and professional cash handlers will not be able to reissue currency they receive from the public without first subjecting that currency to stringent authenticity and quality tests according to Eurosystem-wide standards.
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Panel Exhibition
A panel exhibition on the 40-year history of the Central Bank of Malta and the ten years of EMU may be viewed during normal office hours at the main building of the Bank at Pjazza Kastilja. |
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Anniversaries of the CBM, ESCB, ECB and Eurosystem
In 2008 the Central Bank of Malta is celebrating its 40th anniversary while the European System of Central Banks (ESCB) and the European Central Bank (ECB) are commemorating their 10th anniversary. Furthermore the euro and the Eurosystem will be ten years old on 1 January 2009.
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Exchange of Maltese lira at the Central Bank of Malta -
The Central Bank of Malta will continue to exchange, at the irrevocably fixed conversion rate and without charge, Maltese lira coins until 1 February 2010 and Maltese lira banknotes until 31 January 2018.
The public is also asked to take note that exchanges are conducted only at the Bank’s Annex at St James’s Counterguard, Valletta, which is easily accessible from the bus terminus at City Gate.
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