Israeli regulators warn banks

ISRAEL - Israeli regulators warned commercial banks they looked to be inadequately covered against a surge in foreign-currency lending last year and urged them to tighten standards.

The Bank of Israel warning comes amid a sharp depreciation of the shekel since the base lending rate was slashed 200 basis points at the end of December. The Israeli currency has lost 12% against the dollar since mid-December and was trading at 4.7310 shekels against the dollar Monday.

The Bank of Israel said foreig