Supervisor of Banks Rony Hizkiyahu: We have decided to expand the reporting format on home loans.
The Bank of Israel is continuing to focus on the real estate market, and has asked the banks for expanded format reports on their mortgages business. The current format was written in 2000, and the Bank of Israel is concerned that it is not broad enough to see market trends and processes.
"In view of the changes in the home loan market in recent years, we decided to expand the reporting format on home loans. The updated reporting covers both loans for residential purposes and loans which use residences as collateral," Supervisor of Banks Rony Hizkiyahu told "Globes".
Bank of Israel Regulation 888A - Quarterly Report on Home Loans will be filed within 20 day from the end of a quarter. The Bank of Israel wants the following information:
- Mortgage issuances and refinancing during a quarter, according to the proportion financed and types of linkage, including data on apartments for investment and buyers groups, and credit given to repay housing debt at another bank.
- Mortgage issuance according to the proportion financed and the value of the asset.
- Issuance according to proportion financed, and the loan repayment as a propotion of borrower's income, including the average repayment proportion.
- The outstanding balance of the loans grouped according to type of linkage and by amount of the borrower's credit.
- Arrears in home loans and provisions for doubtful debts for them, broken down by the length of the arrears and specific provisions, as well as data on arrears of 1-3 months and the number of loans.
Published by Globes [online], Israel business news - www.globes-online.com - on July 25, 2010
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