© REUTERS Concerns of an upheaval in the financial system? The Governor of the Bank of Israel will convene the Stability Committee for an extraordinary discussion
| Sonia Gorodisky, Israel Hayom |
The governor of the Bank of Israel, Prof. Amir Yaron, today (Wednesday) convened the stability committee for an unusual discussion soon. The committee, chaired by the governor himself, usually meets four times a year, and this time it met even before the planned date, which is apparently due to concerns of the central bank and the Ministry of Finance for the stability of the financial system in Israel.
The Financial Stability Committee is a committee established by virtue of the “Bank of Israel Law”, whose purpose is to support the stability of the financial system in Israel and its regular operations, through coordination, cooperation and information sharing between all the financial supervisory authorities – the Ministry of Finance, the Bank of Israel and the financial regulators, the Capital Market Authority and the Securities Authority.
This is a discussion whose content is confidential, and which may be related to the withdrawal of deposits abroad. We note that this week the Governor told “Israel Today” that there are no “abnormal” financial movements. According to him, “Frequently, regardless of the recent events, we are in dialogue with the banking system and the the financial and we have data on these subjects. Beyond that, at the macro level we receive all the data, as of now there is no unusual activity here.”
The committee is chaired by the governor of the Bank of Israel and its members include, among others, the director general of the Ministry of Finance Shlomi Heisler, the deputy governor Andrew Abir, the chairman of the Securities Authority Anat Guetta, the acting head of the Capital Market Authority Amit Gal and the supervisor of banks Yair Avidan.
Read the full article on the Israel Today website