Bank of Israel to be Basel II compliant by 2009

Bank of Israel issues new draft revised frameowrk for Basel II implementation

The Bank of Israel has distributed draft instructions on a revised framework for Basel II among banks this week, in a continuing campaign for compliance with Basel II by 2009.

Supervisor of Banks Rony Hizkiyahu said: “every banking corporation will be required to take measures to ensure it will be ready to apply Basel II in 2009.”
Hizkiyahu had previously stated that the Bank of Israel would adopt the final version of Basel II in June 2006.

The draft directive mentions the standard approach for

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