By contrast, lending growth was much livelier for the smaller banche popolari (13.9 per cent), also by comparison with other banks of comparable size and with similar operational characteristics (7.2 per cent) including the mutual banks (10.4 per cent).
In the last five years we have gone a long way in increasing transparency, including by publishing the minutes of the meetings in which interest rate decisions are made. In addition, the law clearly defines the policy goals and the responsibilities of the Bank, and clarifies working relationships between the Ministry of Finance and the Bank of Israel in areas where we overlap.