Fischer wants financial supervision

The current turmoil shows that the involvement of the central bank in the supervision of financial institutions should be extended and enhanced, said Stanley Fischer, the governor of the Bank of Israel.

In Israel's case, the conclusion is that supervision of banks, and insurance, provident and pension funds should be brought together in the central bank, stated Fisher.

He added that if the Bank of Israel is given the responsibility, it would be advisable to separate supervision of financial

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