Regulatory Alerts2017-07-10
Added
Credit Risk Management
The Bank of Israel revises Proper Conduct of Banking Business Directive No. 311 to ease requirements for receiving financial statements from borrowers and introduce semiannual reporting for large borrowers. Banking corporations and credit card companies must base credit granting on updated financial data and consider updated statements in accordance with applicable law. The revision exempts institutions from receiving statements when total indebtedness is less than NIS 1 million and mandates semiannual data for borrowers with total indebtedness exceeding NIS 50 million. These amendments enter into effect on January 1, 2018, with early implementation permitted.
More like this from BOI
We email you every new BOI publication the day it's published.