In the United States and Europe, amid continued balance sheet adjustments, bank lending has been sluggish and credit costs have been somewhat at high levels. The international financial system is still in a fragile state. B.
These changes, alongside initiatives led by the Bank of Israel and the Banking Supervision Department-such as building a credit register, promoting greater efficiency in the banking system, and promoting technology and innovation in banking-will in the coming years create an advanced banking system that is more competitive in the retail and small business areas.