Regulatory Alerts2024-03-31
Added · Updated
Adjustments to Proper Conduct of Banking Business Directives for the Swords of Iron War
The Banking Supervision Department extends the validity of the Proper Conduct of Banking Business Directive 251 until June 30, 2024, while cancelling specific sections including 2a, 2b, 3, 4, 5, 5.1.a, 5.2.a, 6, 6c, 7, 8, 9, 9b, 10, 11, 12, 13, 13a, and 15. For Directive 311, the period for updated credit risk reports is extended by three months to a total of 18 months, and semiannual data submission is extended by three months to a total of 12 months. Directive 360 defers the rotation of sensitive position holders until June 30, 2024, and Directive 411 applies specific AML provisions to existing payment accounts approved by March 31, 2024, until December 31, 2024, with a separate deadline of May 15, 2024, for accrued balances exceeding Appendix B2 thresholds.
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