Israel
Bank of Israel warns banks are exposed to vehicle finance
Central bank warns exposures are “not negligible” and continue to grow, although they do not yet present a systemic risk
People: Trump names Otting for OCC job; Sri Lankan assistant governor promoted
People: Trump names Otting for OCC job subject to Senate approval; Sri Lankan assistant governor promoted to deputy role; Barbados appoints acting deputy; and more
Israeli survey highlights benefits from ‘digital revolution’
“Tremendous changes” in the banking system are likely to benefit households and small businesses, the central bank says, while stability is also improving
Israel’s Flug: action needed on productivity
Bank of Israel governor warns Israel remains a laggard when it comes to growing output per person
People: RBNZ’s Bascand takes new role; Lithuanian deputy reappointed
Geoff Bascand becomes head of financial stability; Raimondas Kuodis gets a second term; Bank of Israel promotes two officials
Bank of Israel revamps policy communications
New approach to communicating monetary policy decisions as committee moves to an eight-meeting cycle
PMA stresses accord with Israel as banks threaten to pull out
Governor Azzam Shawwa says Palestinian banks conform to global standards, as the Israeli government steps in to offer assurances to its banks providing correspondent services
Bank of Israel cuts 2017 budget as building and banknote projects wind down
Central bank continues process of budgetary restraint as it unveils work plan for 2017; spending on renovation and new technology and emergency centre falls
Palestine Monetary Authority forecasts slowdown amid ‘political impasse’
Authority sees likelihood of “slackening trend” of growth in coming years as Gaza Strip “siege” continues and restrictions affect the West Bank
Israel’s red tape is bad for business – Flug
The Bank of Israel governor says cutting back on bureaucratic regulations could help the economy grow faster with little budgetary impact
Bank of Israel moves to eight-meeting policy cycle
Cut in number of meetings reflects stability of economic indicators and will allow for more detailed analysis at each meeting, central bank says, though one member criticises loss of flexibility
Flug urges Israeli parliament to make haste in setting up financial stability committee
Bank of Israel governor says changes to banking competition increase the need for the new supervisory body, warning risks may be on the rise
Flug points to risks as banking competition work proceeds
Government approves banking competition bill and central bank moves ahead with payments competition work, though Karnit Flug says new risks stemming from the reforms must be dealt with
Bank of Israel aims to boost construction credit with new regulation
Banking supervision department proposes reclassifying credit risk in wake of financial institution’s efforts to insure against it; suggests it would free up $2.6bn of finance
Bank of Israel opens payment protocol to smaller players
Central bank removes obstacle to new firms looking to enter payments market; also working on ‘payment systems directive’ based on European model and new access standards
Bank of Israel sees ‘Brexit’ increasing risks to outlook
Monetary committee warns it is too early to tell whether short-term effect on financial markets has run its course; Flug stresses both central bank and finance ministry “keeping close watch”
Flug sets out ‘change in philosophy’ on new banks
Bank of Israel governor sets out measures adopted by banking supervision department to make it easier to start a bank from scratch; part of broader competition drive in the country
Exports decline ‘worrying’ as Bank of Israel holds
Monetary committee cites "intensifying decline" in exports as it holds the policy rate at 0.1%; inflation dips to –0.9%, as growth figures disappoint
Israel must close productivity gap, Flug says
Bank of Israel governor calls on government to work on closing gap with advanced economies, which could boost living standards by a third, she says
Bank of Israel establishes banking innovation division
New section of banking supervision department formed to help foster innovation but contain the accompanying risks; Dudi Bavli chosen to head division
Flug outlines state of play on Israeli credit information database
Governor says new database established and operated by Bank of Israel will strike a balance between being comprehensive and relevant; key appointments to follow
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