ANNOUNCED AS TEMPORARYNo
Controls on commercial transactions and investment instruments
On 20 January 2011, the Bank of Israel announced that it would implement reserve requirements for foreign exchange derivative transactions involving nonresidents.
Effective 27 January 2011, Israeli banks shall meet a reserve requirement of 10 percent on foreign exchange swaps and foreign exchange forwards executed on behalf of a nonresident.
The Bank of Israel motivated the move from an increased buildup of short run positions held by nonresidents in the recent past.
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