Regulatory Alerts2020-12-01
Bank of Israel Amends Directive 299 on Regulatory Capital Transitional Provisions for Expected Credit Losses
The Bank of Israel has amended Proper Conduct of Banking Business Directive no. 299 to establish transitional provisions for the regulatory capital impact of implementing new Current Expected Credit Losses accounting rules. These measures aim to mitigate unintended negative effects on banking corporations' capital buffers during the initial implementation phase, aligning with Basel Committee guidelines. The amendments apply to banking corporations and merchant acquirers starting from the date they first implement the new rules in accordance with Reporting to the Public directives.
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