Israel: Report on the Observance of Standards and Codes-Monetary and Financial Policy Transparency, Banking Supervision, Securities Supervision, and Payment Systems-Update
March 17, 2003
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This paper presents an update to the Report on the Observance of Standards and Codes Fiscal Sector Modules for Israel. The 2000–01 Financial Sector Assessment Program mission assessed Israel’s compliance with the Basel Core Principles for effective banking supervision. Israel was found materially noncompliant because of secrecy provisions that prohibit the Bank of Israel from disclosing supervisory information to other supervisors, both domestic and international. Israel was also found not fully compliant in some other areas including: objective, autonomy and powers; loan evaluation and loan loss provisioning; and investment criteria.
Subject: Banking, Financial institutions, Financial Sector Assessment Program, Financial sector policy and analysis, Insurance
Keywords: banking ordinance, BoI governor, CR, depositor protection rule, Financial Sector Assessment Program, FSAP conclusion, FSAP mission, Insurance, ISCR, price stability objective, rule, sc, supervision
Pages:
11
Volume:
2003
DOI:
Issue:
076
Series:
Country Report No. 2003/076
Stock No:
1ISREA0022003
ISBN:
9781451819526
ISSN:
1934-7685
