Israel’s economy, as is known, made it through the global crisis better than most other advanced economies, and we benefit from a relatively good macroeconomic situation, among other things due to proper macroeconomic management in the years prior to the crisis, and determined management of policy during and after the crisis.
Information technology has made possible the creation, valuation, and exchange of complex financial products on a global basis and, often, in real-time. As our banks increasingly engage in these technology-driven, I would urge them to take greater precautions in managing all the risks involved.