Regulatory Alerts2020-09-28
Bank of Israel Update of Directives on Proper Conduct of Banking Business
The Bank of Israel issued Circular C-06-2628 to amend Proper Conduct of Banking Business Directives 203, 313, and 315. The amendments align credit conversion factors and indebtedness definitions for guarantees related to vacate-and-build projects with those under the Sale Law, while clarifying that Nostro accounts are not supervised borrowers. These regulatory changes take effect no later than January 1, 2021.
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