Regulatory Alerts2023-12-31
Adjustments to Proper Conduct of Banking Business Directives in order to deal with the “Swords of Iron” War (Temporary Directive)
The Bank of Israel's Banking Supervision Department issued a temporary directive easing regulatory burdens on banking corporations to assist customers affected by the "Swords of Iron" War. The measures include suspending restrictions on proactive consumer credit marketing, exempting loans for protected spaces and specific housing loans from standard limitations, and deferring operational risk and IT safety surveys until June 30, 2024. These adjustments are designed to provide business flexibility and support economic stability, with most provisions remaining in force until March 31, 2024.
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