Israel: Report on the Observance of Standards and Codes-Monetary and Financial Policy Transparency, Banking Supervision, Securities Supervision, and Payment Systems-Update

International Monetary Fund

No 2003/076, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

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 (search for similar items in EconPapers)
Pages: 11
Date: 2003-03-17
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