Flug turns Bank of Israel focus to financial stability

karnit-flug

Israel's banking system is strong, but the level of operating efficiency is low when compared internationally, Bank of Israel governor Karnit Flug today told the Knesset's (Israel's parliament) finance committee during a review of the state of the country's economy.

Flug said stress tests indicated that the financial system would be able to withstand a simultaneous collapse of two large banking groups, but also said "streamlining measures", including reducing salary expenses and balancing compen

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