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Israel: Report on the Observance of Standards and Codes-Monetary and Financial Policy Transparency, Banking Supervision, Securities Supervision, and Payment Systems-Update
Author:
International Monetary Fund
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2003: Issue 076
Language:
English
Publication Date:
17 Mar 2003
DOI:
https://doi.org/10.5089/9781451819526.002
ISBN:
9781451819526
ISSN:
1934-7685
Pages:
11
Keywords:
ISCR; CR; sc; BoI governor; rule; FSAP conclusion; supervision; FSAP mission; price stability objective; banking ordinance; depositor protection rule; Financial Sector Assessment Program; Insurance
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This paper presents an update to the Report on the Observance of Standards and Codes Fiscal Sector Modules for Israel. The 2000–01 Financial Sector Assessment Program mission assessed Israel’s compliance with the Basel Core Principles for effective banking supervision. Israel was found materially noncompliant because of secrecy provisions that prohibit the Bank of Israel from disclosing supervisory information to other supervisors, both domestic and international. Israel was also found not fully compliant in some other areas including: objective, autonomy and powers; loan evaluation and loan loss provisioning; and investment criteria.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund