Fischer rebukes bank execs over high salaries
Bank of Israel Governor Stanley Fischer told bankers their policies were not transparent enough and competition was inadequate.
Although Fischer was polite during the meeting, his words were biting. He told the bankers that their policies were not transparent enough and that competition was inadequate. He called on the banks to reduce the number of fees to benefit customers, and criticized executives' salaries, which he said were out of proportion.
Fischer concluded by calling on the bankers to act with maturity and responsibility to maintain the banking system, and warned that he should not have to be their guardian.
The Bank of Israel said in response, "This was a working meeting. We decline to comment on the content."
Published by Globes [online], Israel business news - www.globes-online.com - on January 14, 2013
© Copyright of Globes Publisher Itonut (1983) Ltd. 2013
- Tel Aviv market report
- Tel Aviv Stock Exchange
- Israeli stocks in NY
- Arbitrage gaps for dual-listed stocks
- Israeli stocks in Europe
- Israeli stocks on other markets
- Tel Aviv 25 options
- Mutual funds
- Current representative shekel rates
- Historical representative shekel rates
- Bank shekel rates
- Shekel/dollar options