Regulatory Alerts2020-03-08
Bank of Israel Adjustments to Proper Conduct of Banking Business Directives for New Banking Corporations
The Bank of Israel issued Directive no. 480 to reduce regulatory burdens and lower entry barriers for new banking corporations by adjusting compliance requirements. The directive defines eligible entities based on asset size and activity complexity, granting them exemptions or simplified rules for capital adequacy, leverage, liquidity, and corporate governance. These adjustments allow for merged executive roles, reduced board requirements, and outsourced technology functions to facilitate the establishment of new banks while maintaining systemic stability.
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