Zelekha to present credit reform

A second reform would initiate trade in government bonds by primary dealers (major market makers), including foreign banks, to bring down government fund raising costs.

Accountant-General Yaron Zelekha is preparing to present "far-reaching" reforms for the credit market promoted by his office during the Finance Banking and Insurance Exhibit set to take place in Tel Aviv on May 29 (FBIE 2006), conference organizers said Tuesday. One reform would introduce repurchasing agreement ("repo") law to Israel, creating channels to receive credit independent of the banks, "opening the credit market to real competition," the organizers said. A second reform would initiate trade in government bonds by primary dealers (major market makers), including foreign banks, to bring down government fund raising costs.