Israeli banks can now pledge their assets more freely

For many years, Israeli banks have been subject, under the directives issued by the Bank of Israel, to specific restrictions on their ability to create pledges over their assets. However, under a new directive published by the Bank of Israel, such quantitative restriction will be cancelled. Instead, Israeli banks are required to determine a proper policy for pledging their assets and to adopt proper checks, balances and monitoring mechanisms in connection therewith.

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