Not enough
Without teeth: the supervisor is satisfied with the expectations of the banks
The joke says that only pillows have expectations, but that didn’t stop the supervisor of banks from writing to the banks this week (for who knows how many times) because he expects them to be more considerate of their customers. The word expectation appears four times in its various connotations in Yair Avidan’s short letter to the bank managers: “I expected to take care of the clients’ affairs, and make sure that their interests would be at the center”, “I expect to draw the attention of the customers to banking investment products, in view of the changes in the interest rate and inflation environment”, “Expectation conduct themselves in a responsible, proper and fair manner towards their customers” and “expect them to continue to provide adequate and professional service”.
So expectations are of course an important and welcome thing, but the regulator that supervises the banks – a system that still suffers from few players and little competition (and with protection from the state that promises not to let them collapse, God forbid) – must show a little more teeth. For starters, let him practice in his frequent letters at least to replace the word viewing with the word demand. This is our demand from him.
excellent
They are starting to fix the neglect of the long-term care insurance
We are not only repressing death, but also the days of old age. The fact that the continued increase in life expectancy often involves a longer period of difficult and painful coping with a body and soul that fail to bear life itself with dignity. Therefore, the commissioner of the capital market did well to decide now to put on the table the issue of our long-term care coverage – an area that passed more than two years ago under the responsibility of the health insurance funds, but is very limited in the coverage period and scope. According to Moshe Barkat’s new plan, the Authority is considering expanding long-term care coverage through the pension funds.
But alongside the compliments, the fact that this is only happening now should also be criticized. Barkat, who took office in November 2018, made sure to announce his most important reform just before the end of his term next month. And when credit is not necessarily a dirty word, the next supervisor may find it difficult to promote and raise the flag that the previous supervisor left on the table.