The Malta Financial Services Authority issued a Deposit Liability Transfer Instrument for Satabank plc after the conditions in the Residual Balances Fund Act were met, transferring certain depositor liabilities and corresponding assets to the Residual Balances Fund. The transfer covers liabilities owed to depositors with accounts whose aggregate balance exceeds EUR 30,000, as well as any accounts where legal impediments prevent payment regardless of balance. Depositors with balances of EUR 30,000 or less and no legal impediments will instead receive distributions directly from Satabank’s Controller, Dr Richard Galea Debono. The MFSA indicated it will continue to provide public updates on the distribution process being carried out by the Controller and the Residual Balances Fund Committee.
Malta Financial Services Authority 2025-09-18
Malta Financial Services Authority issues transfer instrument moving Satabank depositor liabilities over EUR 30,000 and legally blocked accounts to the Residual Balances Fund
The Malta Financial Services Authority issued a Deposit Liability Transfer Instrument for Satabank plc, transferring certain depositor liabilities and corresponding assets to the Residual Balances Fund. This applies to accounts with balances exceeding EUR 30,000 or with legal impediments. Depositors with balances of EUR 30,000 or less and no legal impediments will receive distributions directly from Satabank’s Controller.