Flug urges Israeli parliament to make haste in setting up financial stability committee
Governor flags importance of new supervisory body
Bank of Israel governor Karnit Flug has urged Israeli politicians to pass legislation establishing a new financial stability committee as soon as possible, as banking reforms may throw up new risks.
In remarks to the Knesset Reform Committee today (September 7), Flug said changes to the banking competition law in Israel were set to boost efficiency, but could also lead to more institutions failing and the "rapid expansion" of credit to households.
The financial stability committee is designed to
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