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Economy 9 hours ago (Dec 13, 2020 06: 20 AM ET)
© Reuters. People use protective face masks as they patronize a market in the middle of Israel’s second-wave coronavirus illness (COVID-19) lockdown, in Jerusalem
By Steven Scheer
JERUSALEM (Reuters) – The Bank of Israel stated on Sunday it would begin providing repo deals with monitored non-bank credit service providers to increase the supply of credit to extremely little services having a hard time to obtain due to the COVID-19 crisis.
” In view of the crisis, decreasing the expense of the financing source for non-bank credit companies will produce a reward for them and contribute to the pass-through from the basic interest rate in the economy to the interest paid by little and micro companies for the credit released to them,” the central bank said.
Throughout the coronavirus pandemic the main bank has actually attempted to help little companies by method of really low interest rate loans to banks, while allowing loan payment deferments.
The transactions will be for 6 months, with the possibility of an extra 6-month period under the same terms, the bank reserve bank said.
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