To take one example, relying on inertia and customer loyalty to charge existing customers up to 50% higher interest rates for the same or similar products as new customers, as we see in the mortgage market, is unlikely to enhance trust in the system.
In Israel’s case, the solution to the problem of lack of uniformity in supervision of financial institutions that engage in similar activities is to unify the supervision of banks with the supervision of insurance, provident funds and pension funds, with the Securities Authority continuing as a separate entity.