Regulatory Alerts2012-03-22
Business Day in Banking Corporations
The Supervisor of Banks issued regulations defining the business day and its end time for banking corporations in Israel, excluding specific religious holidays and weekends. Banks are required to publish the latest acceptance time for same-day transaction instructions and must record transactions on the day they are implemented rather than the ascribed accounting date. The Supervisor retains the authority to declare non-business days or adjust end times in exceptional circumstances to ensure proper service provision.
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