Israel's Directive 364 underpins the Bank of Israel quantum letter
1 NOVEMBER 2024, TEL AVIV
The Bank of Israel issued Directive 364 in November 2024, consolidating earlier directives 357, 361 and 363 into a single cyber defence management framework. The directive does not mention quantum. Even so, it provides the supervisory legal hook on which the Bank of Israel built its January 2025 quantum preparedness letter.
This pattern is common among supervisors. Rather than write a standalone quantum rule, a regulator attaches the new expectation to an existing framework. Directive 364 supplies the authority, and the letter supplies the quantum-specific requirement, so the directive matters as the legal foundation precisely because the letter rests on it.
Consolidating the three earlier directives also simplifies the picture. By folding 357, 361 and 363 into one current framework, the Bank of Israel created a single, up-to-date hook that newer expectations can build on. That makes it easier for the supervisor to extend requirements, as the quantum letter shows, without reopening several separate directives.
Why it matters. Directive 364 explains how the Bank of Israel could order quantum preparedness plans without a dedicated quantum regulation: the directive is the legal anchor, and the letter is the specific instruction. For banks, the lesson is that supervisory expectations can arrive through existing frameworks. Understanding which directive underpins a requirement helps a bank see where future expectations may attach.