Regulatory Alerts2013-09-29
Added
Reporting on Amounts Reclassified Outside of Accumulated Other Comprehensive Profit
The Supervision of Banks Policy updates reporting requirements for Israeli banking institutions to align with US Accounting Standards Update 2013-02 regarding the disclosure of amounts reclassified out of accumulated other comprehensive income. The amendments mandate that banks disclose additional information in their financial statements, specifically detailing non-interest income components and providing a reconciliation of changes in accumulated other comprehensive income. These updated reporting rules apply retrospectively to the first quarter of 2014 and subsequent periods.
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