Second, these newly-acquired powers will facilitate the implementation of living wills for a rapid resolution of financial institutions in distress, without systemic disruption, and specifically without putting public finances or bank depositors at risk. Third, we are working towards establishing supervisory colleges in Mauritius for banks of which we are the home regulator.
The Bank of Israel, through its Accounting, Payment and Settlement Systems Department, serves as its oversight entity and is responsible for its regulation, for operating some parts of it (Zahav [the Real Time Gross Settlement system] and Paper-based (checks) Clearing House), as well as for its security and efficiency.