Regulatory Alerts2017-11-16
Directive 400: Closure of Bank Branches and Downsizing of Teller Services
The Supervisor of Banks issued Directive 400 to regulate the closure of permanent bank branches and the discontinuation of teller services in Israel. The directive mandates that banking corporations obtain prior approval from the Supervisor and implement a continuity-of-service plan to ensure adequate alternatives for diverse customers. It requires boards to establish policies, conduct prior examinations of customer impact, provide sixty days' notice, and maintain access to currency services and automated machines.
Share