Regulatory Alerts2023-10-31
Adjustments to Proper Conduct of Banking Business Directives for the Swords of Iron War
The Bank of Israel's Banking Supervision Department issued a temporary directive granting banks and credit card companies regulatory flexibility to assist customers affected by the Swords of Iron War. The measures include exempting accrued interest from Loan-to-Value ratio calculations, extending deadlines for financial reporting and housing loan procedures, and allowing extensions for sensitive position rotations and continuous vacations. Additionally, the directive defers the implementation of several existing directives and waives signature requirements for payment deferral requests to facilitate rapid customer assistance.
Share