I had some experience with these issues while at the Bank of Israel. In Israel, three separate regulators deal with different aspects of macroprudential policy, but there is no formal financial stability committee. The Bank of Israel is also the supervisor of banks, so has considerable power over housing finance, which essentially is available only from the banks.
*  *  *  Today, we published our Update to the April Monetary Policy Report, in which we discuss economic and financial trends in the context of Canada’s inflation-control strategy. Canada’s economic recovery, which began in the last quarter of 2001, gathered momentum in the first half of 2002.