The Malta Financial Services Authority (“MFSA”) issued a Deposit Liability Transfer Instrument in relation to Satabank plc (“Sata”), following the satisfaction of the conditions set out in the Residual Balances Fund Act.

The Instrument ensures that all liabilities owed to depositors who hold:

• accounts with an aggregate balance exceeding EUR 30,000; as well as
• accounts where legal impediments preclude payment, regardless of the balance

are transferred to the Residual Balances Fund. The corresponding assets will also be transferred to the Residual Balances Fund. Depositors affected by this process can contact the Residual Balances Fund Committee at [email protected].

For depositors with accounts holding EUR 30,000 or less, and where no legal impediments exist, the distribution of funds will be handled directly by the Controller of Sata, Dr Richard Galea Debono, who can be reached at [email protected].

The MFSA remains committed to keeping the public updated on any relevant matters relating to the distribution process being undertaken by the Controller and the Residual Balances Fund Committee.