Collating and disseminating information and data on Israel's economy
The Functions of the Bank of Israel: Collating and disseminating information and data on Israel's economy
To manage monetary policy, maintain financial stability, perform economic research, and discharge its other duties, (as detailed in section 4 in the law) the Bank of Israel needs high-quality and up-to-date information and data. The Information and Statistics Department] meets these needs.
The Information and Statistics Department allows decision-makers, researchers, and other players outside the Bank to access information and data as part of the effort to enhance transparency and efficiency in the economy at large. For this purpose, the Department disseminates data, information, and reports in various ways-foremost at the Bank's Web site, where it posts regular press releases and other publications.
In its programs for the improvement and development of statistics at the Bank of Israel, the Department adheres to several main principles:
- Maintain transparency in methods of gathering and processing data.
- Maintain information confidentiality as required by law.
- Make information-raw and processed-available via periodic and other reports and additional products.
- Comply with strict international and professional standards in respect of statistical methodology and collection and dissemination of information.
- Work in cooperation and coordination with the Central Bureau of Statistics, the Tel Aviv Stock Exchange, the Securities Authority, the Ministry of Finance, and additional authorities and entities.
- Maintain efficiency in the collection, management, and availability of information for customers, without losing sight of the burden of reportage that the rapporteurs must
The Information and Reporting Unit of the Banking Supervision Department publishes comprehensive and regularly updated data on the banking system and annual data on banking corporations that originate in the banks' reportage to the Banking Supervision Department. The Unit also publishes quarterly data about the banks, based on public financial statements, and various interest rates that the banking system uses, including those relating to mortgage loans.