Regulatory Alerts2021-01-10
Additional Adjustments to Proper Conduct of Banking Business Directives for Dealing with the Coronavirus Crisis (Temporary Provision)
The Bank of Israel issued Circular no. C-06-2648 to provide banking corporations with business flexibility during the protracted coronavirus crisis by revising temporary provisions. The directive extends the validity of financial statements for small and micro companies to 14 months and increases the industry indebtedness limitation for construction and real estate from 24 percent to 26 percent of total public indebtedness. These adjustments are effective upon publication and remain valid until December 31, 2025, subject to banks maintaining their risk management standards.
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