Regulatory Alerts2024-06-30
Adjustments to Proper Conduct of Banking Business Directives in order to deal with the “Swords of Iron” War (Temporary Directive)
The Banking Supervision Department of the Bank of Israel has extended the validity of temporary regulatory easings under Proper Conduct of Banking Business Directive no. 251 to December 31, 2024, to support the banking system and customers during the “Swords of Iron” War. The supervisor cancelled specific sections of the directive where justification for extension was lacking, while maintaining flexibility for other provisions to lighten the burden on adversely impacted customers. These amendments, effective July 1, 2024, were issued without a standard regulatory impact report due to statutory exemptions for temporary measures lasting under one year.
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