2012年-IMF国际货币组织全球_Israel_Detailed_Assessment_of_Observance_of_Basel_Core_Principles_for_Effective_Banking_Supervision_107页_1mb

报告摘要

Summary of Israel's Observance of Basel Core Principles for Effective Banking Supervision

Core Content Overview

This report provides a detailed assessment of Israel's observance of the Basel Core Principles (BCPs) for effective banking supervision as of March 2012. The assessment was conducted as part of the Financial Sector Assessment Program (FSAP) Update mission to Israel, which took place in November 2011. The report highlights the current state of Israel's banking sector, its regulatory and supervisory framework, and areas for improvement.

Key Findings

Institutional and Macro-Prudential Setting

The main financial institutions in Israel are banks and insurance companies.
The non-bank financial sector has grown significantly due to the Bachar reform, which forced banks to divest non-commercial activities.
Banks remain central to the financial system, with assets amounting to approximately 140% of GDP.
The banking and insurance sectors are highly concentrated.
Financial supervision is shared among several agencies, including the Bank of Israel (BOI), Israel Securities Authority (ISA), and the Commissioner of Capital Markets, Insurance, and Savings (CCMIS).

Compliance with Basel Core Principles

Core Principle	Grading	Comments
1. Objectives, independence, powers, transparency, and cooperation	Compliant	A comprehensive legal framework exists, but some provisions need more flexibility.
1.1 Responsibilities and objectives	Largely Compliant	Banking laws have not been updated as quickly as needed.
1.2 Independence, accountability and transparency	Largely Compliant	BOI has de jure and de facto independence, but MOF's influence on salary scales raises concerns.
1.3 Legal framework	Compliant	The Banking Ordinance, 1941, and related laws provide a satisfactory legal framework.
1.4 Legal powers	Compliant	The Supervisor of Banks has sufficient legal powers to enforce compliance.
1.5 Legal protection	Compliant	Adequate legal protections exist for supervisors.
1.6 Cooperation	Compliant	A framework for cooperation and information exchange exists with other regulators and foreign supervisors.
2. Permissible activities	Largely Compliant	The legal framework is clear, but requires broad interpretation to accommodate new products.
3. Licensing criteria	Compliant	Legal, policy, and procedural frameworks are in place for evaluating bank license applications.
4. Transfer of significant ownership	Compliant	Ownership transfer is well defined, but controlling interests are defined in policy rather than law.
5. Major acquisitions	Largely Compliant	The law is restrictive in allowing banks to acquire non-bank financial companies.
6. Capital adequacy	Largely Compliant	Based on international standards for credit, market, and operational risk.
7. Risk management process	Compliant	The regulatory framework is comprehensive, though dense and complex.
8. Credit risk	Compliant	Credit risk is closely monitored, but there is room for more comprehensive regulation.
9. Problem assets, provisions, and reserves	Compliant	Detailed directives and supervisory guidance ensure close scrutiny.
10. Risk-weighted assets	Compliant	Banks use a standardized approach to determine risk weights.
11. Interest-rate risk	Largely Compliant	Regulatory attention is growing, but there is a need for more formal frameworks.
12. Market risk	Largely Compliant	Close supervision exists, but more needs to be done in terms of formal frameworks.
13. Liquidity risk	Largely Compliant	The BOI is working on improving liquidity risk management.
14. Supervision of securities-related activities	Largely Compliant	There are gaps in the supervision of certain securities-related activities.
15. Prevention of money laundering and terrorist financing	Materially Noncompliant	The legal framework lacks sufficient provisions for preventing money laundering.
16. Information sharing with foreign supervisors	Materially Noncompliant	There is a lack of formal mechanisms for information sharing with foreign supervisors.
17. Management of bank risks	Compliant	Banks are subject to close scrutiny of their risk management practices.
18. Corporate governance	Compliant	Corporate governance is regulated by the Companies Law and the Securities Law.
19. Methods of ongoing banking supervision	Compliant	A risk-based approach is implemented with a mix of on-site and off-site supervision.
20. Accounting and disclosure	Compliant	Disclosure requirements are strict, and external auditors are used.
21. Corrective and remedial powers of supervisors	Compliant	The BOI has the necessary powers to enforce corrective actions.
22. Consolidated and cross-border supervision	Compliant	A satisfactory program of consolidated supervision exists.
23. Supervision of foreign banks	Compliant	The BOI supervises foreign banks operating in Israel.
24. Information sharing with foreign supervisors	Materially Noncompliant	There is a lack of formal mechanisms for information sharing.
25. Resolution of problem banks	Compliant	The BOI has the necessary powers to resolve problem banks.

Areas for Improvement

Regulation and supervision of interest-rate, market, and liquidity risks.
Supervision of certain securities-related activities.
Flexibility and autonomy in personnel management and budgets to attract and retain financial sector experts.
Formal mechanisms for information sharing with foreign supervisors.
Updating of banking laws to reflect new financial instruments and practices.

Main Recommendations

Enhance the legal framework to better address money laundering and terrorist financing.
Develop more formal mechanisms for information sharing with foreign supervisors.
Update banking laws to improve transparency and responsiveness to new financial products.
Encourage more comprehensive regulation of credit risk, including the development of internal ratings systems.
Improve the regulatory framework for the acquisition of non-bank financial institutions.
Strengthen the independence of the BOI, particularly in relation to salary scales and MOF influence.
Expand the scope of prudential regulation to include more formal frameworks for interest-rate, market, and liquidity risk management.
Improve the implementation of Pillar II requirements to ensure more systematic and formalized risk management processes.

Conclusion

Overall, Israel's banking sector regulation and supervision are in line with international standards, with a proactive and stability-oriented approach. The implementation of supervision is generally good, though there are areas where the legal and regulatory framework could be improved to better meet the objectives of the Basel Core Principles. The report recommends further reforms to enhance transparency, independence, and effectiveness of banking supervision in Israel.

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