Regulatory Alerts2020-04-27
Additional Adjustments to Proper Conduct of Banking Business Directives for Dealing with the Coronavirus (Temporary Provision)
The Bank of Israel issued Circular no. C-06-2618 to provide banking corporations with operational flexibility and assist households during the coronavirus crisis. The directive extends financial reporting deadlines by two months, permits income assessments based on pre-crisis earnings for mortgage applicants on unpaid leave, and suspends additional capital requirements for new housing loans. Furthermore, it increases the minimum share of open branches to 30 percent for cash services and allows a six-month deferral for high-risk system security surveys.
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