Central Bank of Malta explained

Central Bank of Malta
Native Name:Maltese: Bank Ċentrali ta’ Malta
Headquarters:Binja Laparelli, St James’s Counterguard, Valletta
Ownership:100% state ownership[1]
Reserves:400 million USD
Executive Title:Governor
Executive:Edward Scicluna
Bank Of:Malta
Footnotes:The Central Bank of Malta still exists, but many functions have been taken over by the ECB.

The Central Bank of Malta (Maltese: Bank Ċentrali ta’ Malta) is the Maltese member of the Eurosystem and has been the monetary authority for Malta from 1968 to 2007, issuing the Maltese lira. Since 2014, it has also been Malta's national competent authority within European Banking Supervision.[2]

The Central Bank of Malta Act was originally published by means of Act XXXI of 1967. It has been amended a number of times, most recently by Acts I and IV of 2007 in order to provide for the bank's membership within the Eurosystem.[3]

The Central Bank of Malta is located in an early 20th-century building. Completed in 1924 as the Vernon Institute, or Vernon Club. The bank occupied the building since 1967, but made arrangement for the lease of the premises in 1968, with a contract lasting almost hundred years. The interior was eventually demolished in 1968, keeping the façade, to be redeveloped and housing the present Central Bank of Malta. In 2004, the building was bought from the Government of Malta by the bank.[4]

Governors

Governors of the Central Bank of Malta since 1968.[5]

17 April 1968 – 31 March 1972

1 April 1972 – 16 March 1973

17 March 1973 – 25 January 1974

1 September 1985 – 6 November 1986 (acting)

3 June 1987 – 2 June 1993

15 September 1993 – 30 September 1997

1 October 1997 – 30 September 1999

1 October 1999 – 30 June 2011

1 July 2011 – 30 June 2016

1 July 2016 - 31 December 2020

1 January 2021 - Incumbent

Further reading

See also

External links

Notes and References

  1. Web site: Weidner . Jan . The Organisation and Structure of Central Banks . Katalog der Deutschen Nationalbibliothek. 2017. PDF.
  2. Web site: ECB Banking Supervision . National supervisors.
  3. Web site: CENTRAL BANK OF MALTA ACT. www.justiceservices.gov.mt. 2019-09-21.
  4. Web site: History of premises - Central Bank of Malta. www.centralbankmalta.org. 2019-09-21.
  5. Web site: Governors past and present - Central Bank of Malta. www.centralbankmalta.org.