|Address||SLM 1551, Malta, Sliema, Tagliaferro Business Centre, Level 6, 14 High Street,|
|Deposit Guarantee||Yes (up to 100 000 EUR per depositor)|
Any bank can be identified for different purposes and hence can have several different identifiers.
BIC (Business Identifier Code) is a the mostly used international identifier of financial institutions. SWIFT is the registration authority for BICs. BICs are used in financial transactions, client and counterparty data bases, compliance documents and many others.
|Bank BIC Code||FEMA|
|Country Code||MT (Malta)|
A BIC consists of eight or eleven characters, comprising a financial institution code (four characters), a country code (two characters), a location code (two characters) and, optionally, a branch code (three characters).
MFI ID (Monetary Financial Institution Identifier) is a code, unique to each institution in the MFI list provided by ECB (European Central Bank). MFI ID is hence applicable to MFIs resident in the European Union.
The code is alphanumerical, with the first two digits representing the two-digit ISO code for the country of residence of the MFI and the remaining number of digits (no limit has been specified) is any combination of alphanumerical characters.
Deposit Guarantee Schemes compensate certain deposits held by depositors of a bank that becomes unable to meet its obligations.
All credit institutions operating in Malta are obliged to participate in Maltese deposit guarantee scheme.
In the case of Ferratum Bank Limited failure, eligible depositors having covered accounts in this bank will be paid out the following compensation:
|Covered Accounts||most types of deposit are covered, including current, deposit and savings accounts|
|Maximum Protected Amount||100 000 EUR|
|Paid In Currency||in the same currency as the deposit|
Further Information: Deposit Guarantee Scheme in Malta
Minimum reserves is the minimum amount of reserves a credit institution is required to hold with a central bank.
|Subject to MRR by ECB||Yes|
|Exempt from MRR by ECB||No|