Israel clamps down on forex derivatives
The central bank said on Thursday (January 21) that banks operating in Israel will have to hold the equivalent of 10% of their foreign exchange derivatives transactions carried out on behalf of non-residents in reserve. The measure will strengthen the central bank’s ability to achieve the objectives of its monetary, foreign exchange and financial stability policies, it said.
“In the past few months the volume of foreign exchange derivatives transactions by non-residents has increased markedly. A
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