Barbados: Financial System Stability Assessment

February 12, 2014

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Barbados: Financial System Stability Assessment, (USA: International Monetary Fund, 2014) accessed December 22, 2024

Summary

This report evaluates the stability of the financial system in Barbados. The findings reveal that Barbados has a relatively well developed financial system, including a large offshore sector. The onshore system is dominated by large, regionally active banks. Banking services to the population are also provided by the credit union sector. The system also includes a mature but concentrated insurance sector with extensive international affiliates, and other nonbank financial institutions provide credit and other instruments for savers. With a deteriorating fiscal situation and weak growth prospects, Barbados faces considerable macroeconomic vulnerabilities. Sovereign risk is a concern, given a large public debt, high fiscal deficits, and slow growth, and policy options are limited by a fixed exchange rate regime.

Subject: Banking, Central bank bills, Central banks, Commercial banks, Credit unions, Financial institutions, Insurance, Insurance companies

Keywords: Bank resolution regime, Banking sector, Bond holding, Capital adequacy ratio, Caribbean, CBB regulation, Central bank bills, Commercial banks, CR, Credit unions, Economic value, Insurance, Insurance companies, ISCR, Return on assets

Publication Details

Pages:

64
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2014/053
Stock No:

1BRBEA2014002
ISBN:

9781484300404
ISSN:

1934-7685

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