Regulatory Alerts2013-01-27
Added
Circular No. 2366-06: Data for Calculating Effective Cost in the Unindexed Shekel Segment (Monthly)
The Supervisor of Banks amends Reporting Instruction No. 822 to replace the previous reporting format with a new table (Table 01) requiring net gross balances, income and expenses, and liabilities denominated exclusively in non-indexed Israeli currency. The revised report structure mandates that average balances be calculated on a gross basis excluding provisions for credit losses, while specific categories such as consumer loans, business loans, time deposits, and fixed-rate deposits must be reported separately twice monthly starting from specified effective dates in 2013 and 2014. This update requires financial institutions to adjust their internal systems and reporting procedures to comply with the new data collection requirements for calculating effective cost.
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