Regulatory Alerts2022-10-31
Credit Risk Management
The Banking Supervision Department of Israel has amended Proper Conduct of Banking Business Directive No. 311 to clarify credit risk management requirements for regulated banking corporations. The revision modifies Section 27c to explicitly exempt credit approvals for foreign banking group subsidiaries that prepare semiannual financial statements for parent company consolidation rather than statutory public publication. These regulatory amendments take effect immediately upon the circular's publication.
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