Bank of Israel
Transparency award: Bank of Israel
Bank of Israel has improved its already strong communications by holding press events after monetary policy announcements, releasing new financial stability reports and introducing forward guidance
Flug sets out long-term challenges facing Israeli economy
Increasing productivity growth and tackling issues related to poverty are two main challenges facing the government, central bank governor says
Bank of Israel challenges interim competition report
Governor Karnit Flug warns of ‘marked risk’ to economic stability from some proposed measures; central bank argues they may hinder competition, not promote it
Technology empowering bank customers, says Israeli supervisor
Further integration of tech into banks has increased competition in the market and amount of power customers have over financial institutions, Ber argues
Bank of Israel unveils real-time payments plan
New payments infrastructure will support push for advanced electronic payments; committee chair identifies plans for wide range of payments improvements, including real time
Bank of Israel approves first issue of loss-absorbing bonds
Bank Mizrahi-Tefahot allowed to issue contingent convertible bonds that will count as part of regulatory capital, with other banks expected to follow suit
Bank of Israel smoothes way for new credit card players
Central bank moves to ease the process of entering the merchant acquiring and credit card market; aims to streamline licensing and expand ownership options
Bank of Israel unveils plans for better credit data gathering
Registry designed to improve both credit provision and financial stability; deputy governor says central bank has learnt from others while tackling what has been a major project
People: Finland names new head of statistics; RBI appoints executive director
Bank of Finland promotes head of macro-prudential analysis division to head of financial stability and statistics department; RBI gets new executive director; and more
People: NY Fed appoints supervision head; Israel reorganises supervision department
Kevin Stiroh to head financial institutions supervision group at New York Fed from October 26; departure of two deputy supervisors from Bank of Israel prompts reshuffle; and more
Israel committee see risks to inflation outlook rising
Policy-makers at Bank of Israel discussed decline in short-term inflation expectations, a potential drop in growth and the strength of the shekel in August meeting
Israel’s bank supervisor looks to split credit card companies from banks
Hedva Ber has revealed plans to boost competition in financial sector, including forcing two of the largest Israeli banks to sell their credit card companies and creating a credit database
People: Chicago appoints first vice-president, Ukraine adds deputy to deposit fund
Chicago Fed announces Ellen Bromagen as first vice-president and COO; changes at Ukraine’s deposit guarantee fund result in appointment of new deputy managing director; and more
Israel grapples with high house prices and low inflation
Monetary policy report flags concerns by committee members that low interest rates may be fuelling high and rising house prices, but overall the risks to inflation are seen as more severe
Israel’s Flug wants to shine light on ‘grey market’
The alternative financing market, composed of both law-abiding and criminal elements, needs to be shrunk and brought under the supervisory spotlight, says Bank of Israel's governor
People: Njoroge approved as new Kenyan governor; Tajikistan appoints new deputies
Kenyan parliament approves Patrick Njoroge for central bank governorship; president of Tajikistan appoints new central bank board; Sanusi Lamido Sanusi joins Black Rhino; and more
Bank of Israel launches journalist briefings as part of transparency drive
Central bank begins quarterly briefings of journalists and adds new publications as part of ongoing efforts to improve communications; follows consultations with other central banks
Israel’s Flug calls for new financial stability committee
Bank of Israel governor wants to ‘institutionalise’ collaboration between financial supervisory authorities; offers advice to new government on budget
People: NY Fed names first vice president; HKMA promotes research head
Michael Strine succeeds Christine Cumming as first vice president at the Federal Reserve Bank of New York; Lillian Cheung becomes executive director for research in Hong Kong; and more
Bank of Israel studies economic damage from conflict
Latest hostilities between Israel and Palestine cost the Israeli economy around 0.3% of GDP, with effects stemming from falling tourism and lower consumption, annual report finds
Israel and Turkey cut rates, hinting at further easing
Bank of Israel eases with one eye on the appreciating shekel; Turkey stands by its ‘cautious’ stance on interest rate cuts with 25bp reduction
People: New deputies in Angola as defence expert gets top Israel IT job
Two new deputy governors for National Bank of Angola; University of Chicago professor joins Slovak central bank board; defence expert takes on top IT job at Bank of Israel
People: IMF names new deputy; Brazil in line for two as well
Christine Lagarde wants to appoint an adviser of the Japanese government as deputy managing director; Brazil’s central bank governor proposes two new deputies in a reshuffle; and more
Israeli research finds monetary policy is ‘dominant factor’ on short-term yields
Paper published by Bank of Israel examines impact of monetary and fiscal policy on government bond yields; finds the influence of government debt has ‘strengthened’ in past decade