Bank of Israel supervisor cleared by comptroller

The Bank of Israel's supervisory office has been cleared of a direct failure in monitoring the embezzlement at Trade Bank Ltd.

Source: Jerusalem Post

In the state comptroller's 53rd annual report, Eliezer Goldberg cleared the Bank of Israel's supervisor's office Wednesday of a direct failure in monitoring the embezzlement at Trade Bank Ltd, leading to the small bank's collapse.

Based on the report, the comptroller characterized as reasonable the banks supervisor's claim that his responsibility e