Israel

Israel's Fischer notes importance of Basel II

The adoption of the Basel II principles of capital management is one of the largest and most important tasks confronting the Israeli banking system, says Stanley Fischer, the governor of the Bank of Israel.

Israel holds rates

The Bank of Israel decided on Monday to keep its interest rate at 4% as the strength of the shekel is counterbalancing rising prices and keeping inflation in check.

Israel launches same-day clearing system

The Bank of Israel launched its real-time gross settlement system (RTGS) for bank transfers on 3 September. This is part of the central bank's reforms of Israel's payment and clearing systems.

Israel prepares for the worst

The Bank of Israel's core staff participated in a two-day drill exercise on Monday and Tuesday as part of the central bank's business continuity programme.

Olmert ends Bank of Israel's wage dispute

Ehud Olmert, the prime minister of Israel, managed to push through a new wage agreement for the Bank of Israel before relinquishing the finance ministry role he has held in a temporary capacity.

Bank of Israel - reserves report

The annual report of the Foreign Currency Department describes and analyses changes in the level of Israel's foreign exchange reserves, developments in their management, liquidity, rate of return and the risks to which the reserves portfolio is exposed.

Bank of Israel's wage dispute continues

The wage dispute at the Bank of Israel is continuing, with Eli Cohen, the wages director at the country's finance ministry, refusing to sign off on various clauses of the new collective employment agreement.

Israel's Fischer on new banking law

Addressing the Knesset, Stanley Fischer, the governor of the Bank of Israel, urged lawmakers to push forward with a new law on the supervision of banking fees by the Supervisor of Banks.

Israeli rates cut again

The Bank of Israel has cut interest rates by 25 basis points to 3.5%. The decision, announced on 28 May, comes as inflation remains below the central bank's 1 to 3% inflation target.

Every mistake imaginable

According to the article "Every mistake imaginable" published on Tuesday 13 March by Haaretz, critical mistakes at important times meant that the Bank of Israel's salary negotiations went on much longer than was necessary.

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