The Bank of Israel’s Supervisor of Credit Data Sharing has notified credit providers reporting to the Register that a temporary extension has been issued for reporting on arrears on loan repayments, such that instead of reports being due within 30 days, they are now due within 60 days.
Operation Rising Lion, which began against Iran as part of the Swords of Iron War, places an economic burden on many of Israel’s citizens. This burden is expected to be reflected in credit providers’ internal records, and in the data reported to the Credit Data Register. These data help various credit providers assess the risk involved in providing loans to borrowers, and in some cases, may have a negative impact on borrowers’ ratings, their ability to obtain credit, and the terms of credit.
In order to provide the public with enough time to arrange their debts with the credit providers and avoid reports on arrears in loan repayments due to various technical reasons, the Bank of Israel’s Supervisor of Credit Data Sharing has instructed information sources that report to the Register (who are credit providers) to extend the necessary time period before reporting on arrears in loan repayments, such that instead of reporting on arrears after 30 days, they will be reported only after 60 days. The directive will also apply to the monthly reporting in respect of June–August 2025. Thereafter, the Supervisor will examine whether a decision is necessary for additional reporting months.
We again direct the public’s attention to products offered by the credit providers in order to make things easier for customers, in view of the assistance program implemented by the Bank of Israel during the Swords of Iron War. In this context, we suggest that customers contact their credit providers to examine the option of deferring or spreading out payments, taking note of the cost that may be involved in such action, and whether it is necessary.
We recommend acting in coordination with the credit providers in order to prevent, as much as possible, situations in which customers exceed their credit limits, checks are bounced, or loans fall into arrears. Exceeding credit limits or arrears that are not arranged in advance may impair the customer’s ability to obtain credit on good terms in the future.
Additional information on all of the Bank of Israel’s measures, and contact details, can be found on the Bank of Israel’s website.
https://boi.org.il/en/bank-of-israel/iron-swords