Regulatory Alerts2020-12-30
Management of Credit Facilities in Current Accounts (E)
The Bank of Israel issued Circular C-06-2636 to update Proper Conduct of Banking Business Directive 325 regarding the management of credit facilities in current accounts. The amendment clarifies that a customer's request to honor a specific debit includes providing payment instructions or authorizing account debits, extending a temporary coronavirus-related provision to routine operations. This change takes effect immediately upon publication.
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