8 The new law of the Bank of Israel, which we hope will be passed soon, specifies supporting financial stability as one of the Bank's three main missions, and we believe that our ability to do so would be strengthened by implementing the Dutch model of financial sector supervision, with all prudential supervision in the central bank.
As to whether macroprudential tools "need to be developed and agreed at an international level and implemented in a standardised way in order to avoid jurisdictional and regulatory arbitrage", as argued by the UK Treasury report, that would be desirable, but only if it can be  8  4  Conduct of business supervision could be in one organization or divided between consumer relations and investor relations aspects of behavior.