Regulatory Alerts2024-12-30
Adjustments to Proper Conduct of Banking Business Directives for Swords of Iron War
The Supervisor of Banks issued a temporary directive granting regulatory relief to banking corporations to help them and their customers cope with the economic ramifications of the Swords of Iron War. The directive cancels or amends numerous existing directives, including relaxing credit risk management timelines, waiving housing loan limitations for protected space construction, and exempting payment deferrals and specific borrower signatures from standard documentation requirements. These measures are generally valid until December 31, 2025, with specific provisions tied to the validity periods of related Home Front Command regulations and Bank of Israel assistance frameworks.
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