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The Bank of Israel responded to three different reports in the media at the end of last week by saying that for the past three years it has been undergoing a process of reforms. The bank has ended a work dispute and reached a wage agreement appropriate to the public sector, and reorganized to make the bank more efficient and modern, it says. It has also advanced new legislation for the bank.

"The goal is to build a modern and transparent bank, based on public norms and professionalism, as is accepted in developed nations," the central bank wrote. The announcement was published on Friday under the headline: "The Bank of Israel comments on the false and deceptive attacks in the media in recent days."

Three critical articles on the bank appeared in three different newspapers on Friday. In response, senior management, headed by Governor Stanley Fischer himself, held consultations and decided to publish a statement detailing the bank's achievements under Fischer.

The press release lists 10 major achievements in the past three years, including cutting 70 workers, signing a new wage agreement last December, and the reorganization.