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Daniel Nathan

Assistant Professor of Finance · Hong Kong Polytechnic University

Assistant Professor of Finance at Hong Kong Polytechnic University (since 2025), previously at the Bank of Israel; PhD in Finance, Tel-Aviv University (2022). Works on FX intervention and international finance.

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Online First Journal of Money, Credit and Banking Online 6 Feb 2026

FX Interventions and Capital-Constrained Banks: Evidence from USD/ILS Spot, Forward, and Option Markets

Markus Hertrich · Daniel Nathan

This paper uses confidential daily data on the Bank of Israel's (BOI) foreign exchange purchase program in the USD/Israeli new shekel (ILS) spot market from 2013 to 2019 to study how FX interventions …

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