חוק בנק ישראל (תיקון מס' 7), התשע"ט-2018Bank of Israel Law (Amendment No. 7), 2018 · automatic translation · suggest a correction

Official summary of the law (Knesset)

It was determined to establish the Financial Stability Committee, whose purpose is to support the stability of the financial system and its orderly functioning through coordination among the financial supervisory authorities. The members of the Financial Stability Committee will be the regulators of the financial supervisory authorities. The Financial Stability Committee has no power to compel any financial supervisory authority, but it may recommend to a supervisory authority the measures needed to prevent or reduce risk. The Financial Stability Committee is also authorized to report to the Prime Minister and the Minister of Finance on a real systemic risk whose handling involves the use of public funds; the Minister of Finance may update the Chairperson of the Knesset Finance Committee on the details of such a report - if he deems it necessary under the circumstances - and shall notify the Chairperson of the Financial Stability Committee of the update. The Financial Stability Committee may decide to publish to the public a summary of a particular discussion, in whole or in part, provided it found that the publication would not impair its ability or the ability of a financial supervisory authority to perform its duties.

automatic translation · suggest a correction