The Supervisor of Banks is carefully following the regulatory reforms in the area of corporate governance and risk management suggested by the newly established Financial Stability Board and the Basel Committee, and where relevant, is adapting them and requiring their implementation in the Israeli banking system. In addition, we are studying the new topic of macroprudential surveillance, and considering its implementation.
Importantly, the presidents of the Reserve Banks participate, along with the Washington-based Board members, in the monetary policy deliberations of the Federal Open Market Committee. The presidents bring a wealth of knowledge acquired from their regional contacts.