Legal Notice 278, published on 30 June 2020 extends by 6 months the moratorium period established by the Moratorium on Credit Facilities in Exceptional Circumstances Regulations, 2020. Through these regulations, credit and financial institutions licensed by the Malta Financial Services Authority had been directed to offer a six-month moratorium, now extended by a further six-month period, on repayment of credit facilities sanctioned prior to 1 March 2020 - whether to individuals, households or businesses - who showed that they have been negatively affected by the COVID-19pandemic.

Applications for the extension can be made by 30 September 2020. The extension applies only to borrowers who have been granted a moratorium on credit facilities between 1 March 2020 and 30 June 2020.

For details on the initial moratorium measure, refer to our earlier announcements of 14 April 2020 and 29 April 2020.

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.