A joint financial stability board is being set up in the next few days between the Malta Financial Services Authority and the Central Bank.
The objective of the board is to strengthen the resilience of the financial system and mitigate the build-up of systemic risk. It will be made up of senior personnel from the MFSA and the CBM, and will mirror the model adopted by the European Systemic Risk Board.
The ESRB is an independent body of the European Union and is part of the European System of Financial Supervision (ESFS), the purpose of which is to ensure the supervision of the Union’s financial system.