Regulatory Alerts2021-12-26
Presentation of Activity Data in Securities Deposit
The Bank of Israel's Banking Supervision Department, in cooperation with the Israel Securities Authority, established Proper Conduct of Banking Business Directive no. 460 to mandate a uniform format for banking corporations to present securities deposit information to customers. This directive requires banking corporations to provide customers with data on securities deposit return, assets, activity disclosure, and fees, including online presentation of portfolio yield, periodic reports, and access to historical data. It specifies calculation methods for return, asset inclusion, and reporting currency (NIS), aiming to improve customers' ability to make informed investment decisions, and takes effect no later than January 1, 2023.
Share