The Beisky Commission was a commission established by the Israeli government on January 7, 1985. Headed by State Comptroller Moshe Biesky it's remit was to examine events surrounding the 1983 Tel Aviv stock market crash. The report, dated April 16, 1986, concluded that the major Israeli banks had been rigging the price of bank shares over a long period. It called for the dismissal or resignation of many of the heads of the Israeli banking system. Dr Moshe Mendlelbaum head of Bank of Israel resigned. Ernst Jephet of Bank Leumi retired with a $5 million agreement. Rafael Rakanali refused to resign as head of the Discount Bank threatening to provoke a banking crisis by withdrawing deposits from the Bank of Israel.[1]