The Bank of Israel has submitted a progress report to the country’s minister of finance regarding its effort to create a structure for regulating securitization. The proposed legislation, which is expected to be submitted to the Knesset by June, stipulates that securitization initially consist of plain-vanilla products, with more complex securitization to be considered after the country’s experience with the simpler kind. The central bank has been working on allowing mortgage securitization in Israel for the past three years.
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