Bank of Israel purchased USD 801 mln of foreign exchange in May to maintain orderly market functioning.

FT reports OpenAI is preparing the largest overhaul of ChatGPT since launch, planning to reposition it as a "super app" that integrates coding tools and AI agents and to add products executives say will generate more revenue.

Fed Governor Michael Barr criticized recent rollbacks easing limits on bank lending, saying proposals have substantially weakened bank oversight and that vulnerabilities from looser rules may not be visible now but could accumulate over several years and cause serious economic damage. He said Trump-era officials loosened capital requirements, narrowed the regulatory perimeter and facilitated competition between traditional banks and private-credit firms. Barr warned that weaker capital, liquidity and supervisory standards would raise the risk of bank stress; while banks need room to support economic innovation, history shows profit-driven innovation without adequate safeguards can create excessive risk that, if realized, threatens firms, households and the broader economy.