Regulatory Alerts2014-02-23
Added
Circular on Reporting Information on the Chairman of the Board of Directors, Senior Staff, and the Accountant
The Banking Supervision Department amends Reporting Instruction 807-1-3 to rename the report to include 'Auditor' and require reporting for additional senior roles such as internal auditor. Banks must update their systems to capture specific data fields, including job titles, residency status, and contact details, and submit reports via the secure vault. The amendments apply to all banking institutions and credit card companies, with the changes effective from the date of the circular's publication.
Bank of Israel Banking Supervision Department Policy
Jerusalem, 78001, P.O.B. 91007 Tel: 02-6552475 Fax: 02-6524590
Jerusalem, 3 Adar II 5774 February 23, 2014
Circular No. 2412 - 06 - Ch
To: Banking Institutions and Credit Card Companies
Subject: Report on Information on the Chairman of the Board of Directors, Senior Staff and the Accountant (Reporting Instruction No. 807 'Banking Supervision')
Introduction
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In light of accumulated experience and the need to improve the relationship between the Banking Supervision and the Banks, the Reporting Instruction No. 807 'Report on Information on the Chairman of the Board of Directors, Senior Staff and the Accountant' has been amended in various banks.
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The name of the instruction will change as follows: "Report on Information on the Chairman of the Board of Directors, Senior Staff and the Accountant (Auditor) (Current)".
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The reporting method will change. The instructions will be forwarded to the bank's secretariat via the secure vault.
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The list of positions has been updated and is detailed in Section 9 of the instruction.
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The reporting details have been expanded and are presented in Sections 14 and 15.
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There is a need to ensure that the "Job Title" field reported corresponds to the written communication regarding the positions in the bank. The inquiry to the position holders must be accurate.
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The start of the amendments to this instruction is the date of publication of this circular.
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For questions and inquiries regarding the reporting instructions, please refer to the tables in Reporting Instruction No. 803.
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The update pages of the "Banking Supervision Reporting Instructions" file are as follows:
| Page to Insert | Page to Remove |
|---|---|
| (2/14) [7] 807-1-3 | 807-1-3 Various Versions |
| (2/14) [2] 897-55 | (2/14) [1] 897-55 |
With utmost respect,
Omer Sufar Deputy Superintendent of Banks
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