Fischer on Israel's economy and its banking system

In the speech 'Israel's economy and the challenges facing its banking system' given on 23 November Stanley Fischer of the Bank of Israel said within the Bank of Israel the Supervisor faces the vital and difficult task of managing a large, complex department.

"The task is far from a simple one, particularly as it involves a transition to a new system of supervision, i.e., Basel II.

"The implementation of Basel II constitutes a major objective for the new Supervisor and the banks. Although we gave

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