Regulatory Alerts2025-01-01
Proper Conduct of Banking Business Directive 313: Extension of Borrower Indebtedness Exception for Credit Card Companies
The Bank of Israel’s Supervisor of Banks extends an exemption under Proper Conduct of Banking Business Directive 313, allowing credit card companies to exclude banking group borrower indebtedness from large exposure limits. Originally scheduled to expire on December 31, 2024, this temporary relief now applies until January 1, 2026, or the earlier effective date of the incoming Large Exposures supervisory framework. Section 12(a) of the directive is formally amended to reflect the new deadline, while standard regulatory impact reporting is waived under statutory exemptions for time-limited relief measures.
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