Regulatory Alerts2015-01-07
Added
Regulatory Capital—Transitional Provisions
The Bank of Israel amends Proper Conduct of Banking Business Directive 299 to extend its transitional provisions to the impact of adopting US accounting rules regarding employee rights recorded in the "Retained Earnings" section. This change applies to banking corporations and credit card companies, aligning their treatment with impacts already attributed to "Accumulated Other Comprehensive Income." The amendment becomes effective on January 1, 2015.
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