Post-financial crisis regulation has led to the establishment of an EU-wide Systemic Risk Board (ESRB) within the European Central Bank's (ECB) financial infrastructure, and whose remit is financial stability.
One of the repercussions of the financial crisis was that National Central Banks, especially those in eurozone countries, have been mandated to establish appropriate institutions in their respective countries in order to link with the ESRB.
Scicluna explained that, given its size, Malta opted not to establish a new institution, but instead to set-up a joint Financial Stability Board.
This board would bring together the Central Bank of Malta, the Malta Financial Services Authority, and a Deputy-Governor within the Central Bank of Malta - a post which the proposed amendment to the Central Bank Act would bring about, and which would be solely focused on financial stability.
Such posts may indeed be found in other financial institutions across Europe, such as the United Kingdom's Bank of England, France's Banque de France, and others.
"The need for an additional director within the Central Bank of Malta Board arose in order to ensure that the Board's composition is not disrupted," the finance minister explained, adding that the board must be composed of an odd number of members.
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Thursday 3 October 2013
You do not need to calculate payroll premium if your policy is on a stipulated billing cycle.
Sample Payroll Report.
However, if your policy is not yet on a stipulated billing cycle, this is typically what you will see when we send you a payroll report.
A split payroll report is sent when there is an Anniversary Rating Date on your policy, which is the month and day that rates, rating plans and rating systems are initially applied to a policy in force and each annual anniversary thereafter. Your payroll will need to be annotated for each period specified.
Sample Split Payroll Report.
We will need a complete employee job description before we add the classification to the policy. Please do not report payroll in the new classification until it has been reviewed and endorsed to your policy.
Job Duties Questionnaire.
We recommend you keep a copy of your previous payroll reports and payroll records for at least seven years, as you would your tax records.
Submitting Payroll Reports.
There are three different ways to submit your payroll reports.
State Compensation Insurance Fund P.O. Box 7441 San Francisco, CA 94120-7441.
Free payroll reports.