Here, the Supervisor of Banks is the major player, and together with the management of the Bank of Israel and me, is examining ways to strengthen competition in the banking system including making it easier to transfer accounts from one bank to another, and more besides.
We note that some submissions suggested more onerous alternatives. For instance, one way to ‘encourage’ investors to transact at outright yields would be for the Prime Banks to charge a fee for Eligible Securities transactions negotiated at the BBSW rate.