Regulatory Alerts2022-06-13
Presentation of Activity Data in Securities Deposit
The Supervisor of Banks mandates that banking corporations provide customers with detailed, periodic disclosures regarding the performance, fees, and asset composition of their securities deposits. The directive requires calculating deposit yields using the Time-Weighted Return method without tax deductions and mandates quarterly and annual reporting through digital personal zones or alternative communication channels. It further standardizes reporting formats, specifies customer exclusions, and ensures all financial data is presented in New Israeli Shekels alongside any foreign currency equivalents.
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