On Sunday 14 December the government made a decision to support the proposal put forward by the joint work teams of the Ministry of Finance, the Bank of Israel and the Prime Minister's Office, regarding a "safety net" for savers close to retirement age. The Bank is in favor of the proposal and its immediate implementation.
For instance, euro area non-banks hold over one quarter of bonds and shares issued by euro area banks. I have argued in the past that, from a regulatory perspective, we need to establish at least two lines of defence for evolving risks. First and foremost, the non-bank financial sector needs to have solid prudential standards.