Bank of Israel supports banks' right to issue SPs

The Bank of Israel said it will not support a proposal by Israel Securities Authority chairman Moshe Tery to ban banks from issuing structured products. Sources at the Bank said Tery’s proposal to limit banks marketing structured products is too sweeping and ultimately harmful to their business.Local business paper Globes reported earlier this week that executives "close to the situation" believe Tery failed to co-ordinate the proposal with Supervisor of Banks Rony Hizkiyahu, as required under a