Over the past two days, Andrea Enria was in Malta for his first visit as the new Chair of the Supervisory Board of the Single Supervisory Mechanism at the European Central Bank. This visit forms part of an annual programme of visits organised by the European Central Bank to eurozone-based National Competent Authorities.

Enria also met with staff from all the Authority's functions involved in banking supervisory matters and with whom he had a fruitful exchange of views on various elements related to current themes within the supervisory sphere.

Discussions with Enria focused on the MFSA's key strategic priorities, including the strengthening of conduct within the financial services market and common challenges such as the prevention of money laundering, financial crime compliance and the financing of terrorism.

Banking sector priorities were also on the agenda, including the stock of Non-Performing Loans, the threat of cyber-attacks, technological disruptions, the low interest rate environment and other recurrent themes, such as Brexit.

Together with the MFSA's chairman, Prof. John Mamo, chief Executive officer Joseph Cuschieri welcomed Enria and remarked: "It was a pleasure to welcome Mr Enria to the MFSA's offices and discuss with him the challenges we are facing as well as our vision and strategic plan drawing upon Mr Enria's vast experience in banking supervision. Exchanging ideas and learning about the challenges faced by the ECB and other jurisdictions is an opportunity for the MFSA to learn and up its game."

Enria, who previously headed the European Banking Authority, was appointed to his current position last January, for a five-year term. Enria replaced Danièle Nouy who was the first-ever SSM Chair, which was established on 1 January 2014.