The Supervisor of Credit Data Sharing instructed the data sources to report the providing of easings in a manner that is in line with their record in their internal systems, which generally should not reflect a negative indication regarding the customer in respect of those easings.
We assess that those easings will not have a direct negative impact on the credit rating, or at most will have a very small effect.
It is important to emphasize that the decision to provide credit is not based only on data from the Credit Data System.
For specific questions, you can contact the Public Enquiries Unit of the Credit Data System at telephone *6194 or using the Contact form (Hebrew)
The Supervisor of Credit Data Sharing at the Bank of Israel instructed the information sources reporting to the credit data register to identify and to mark the negative data that will be reported in view of the security situation and its impacts on the country’s citizens. Marking the data will enable the credit bureaus and credit providers to distinguish between negative data generated before the war and negative data created after the war broke out.
We again would like to bring to the public’s attention the services offered by the credit providers with the goal of making things easier for the customers. In this regard, it is suggested to contact the credit providers to whom you are obligated, and to examine the options of deferring or spreading out payments to the extent this is necessary for you. Additional information and contact details can be found on the Bank of Israel’s website:
https://www.boi.org.il/en/bank-of-israel/iron-swords/boi-outline-banks2024/
In this regard, we recommend working together with the credit providers to prevent, to the extent possible, situations of deviation from credit facilities, returned checks, or delays in payments. Deviations or delays that were not arranged in advance are liable to adversely impact the credit rating and the ability to receive credit under good terms in the future.
In order to provide the public with enough leeway to arrange their debts with the credit providers, and to avoid reports of arrears in loan repayments due to various technical reasons, the Bank of Israel’s Supervisor of Credit Data Sharing has instructed credit providers that are sources of information reporting to the Register to extend the required time before reporting on arrears on loans. Instead of reporting on arrears after 30 days, they will be reported only after 60 days. The directive will apply to the monthly reporting in respect of October and September 2024, and the Supervisor is permitted to instruct that it apply for additional reporting months.