Further to the publication of Legal Notice 278 and the extension by another six months of the moratorium period on the repayment of credit facilities of borrowers who are negatively affected by the COVID-19 pandemic, on 1 July the Central Bank of Malta has updated Directive No. 18 and the corresponding Guidelines. Such provide, amongst others, that:

• The moratorium is only available for loans sanctioned before 14th April 2020; and
• New applicants can still apply for a moratorium by 30 September 2020, in which case the moratorium period will be of six months.

Should you have any queries or wish to discuss further, please send an email to covid@kpmg.com.mt.

The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.