Advisory and International Relations

 The International Relations Unit is a supportive unit directly subordinate to the Supervisor of Banks. It aims to improve the supervisory understanding and capabilities as well as to introduce forward-looking perspective into regulatory policy making. The Unit is to initiate cooperation with international entities as well as corresponding financial supervisory authorities around the world, and to identify and analyze trends and developments in global banking that may have an impact on the Israeli banking system. In this context, the Unit coordinates the handling of home-host relations with foreign supervisory authorities, in accordance with the recommendations of the Basel Committee and as stipulated in the formal agreements signed with these authorities; represents the Banking Supervision Department (BSD) in forums of international entities; works to increase the transparency of the BSD’s work vis-à-vis the public and the global financial community; maintains relations with local and international rating agencies; represents the BSD’s position in professional working meetings with various parties, and supports the BSD’s work and the formulation of the supervisory policy by reviewing professional literature; monitors publications of international entities; examines developments and changes in global banking and examining best practices implemented by world-leading financial regulators. In addition, the head of the advisory field is a member of the steering committee of the financial stability committee.​