How are financial assets denominated in Maltese lira affected?
Maltese lira denominated deposits, Government stocks and other assets, as well as bank loans, have been automatically converted into euro at the irrevocably fixed conversion rate on the euro adoption date at no charge. Fixed interest assets will continue to earn the interest rate prevailing at the time of their acquisition. What is the role of the Central Bank of Malta after the introduction of the euro? When Malta joined the EU, the Central Bank of Malta became part of the European System of Central Banks (ESCB) consisting of the national central banks (NCBs) of all EU Member States and the European Central Bank (ECB). Concurrently, the Central Bank of Malta started participating in the ECB decision-making bodies and the Governor of the Bank became a member of the General Council of the ECB. The Governing Council is empowered to take the most important and strategically significant decisions for the Eurosystem, including the formulation of monetary policy. The functioning of the Euros
