The Bahamas: Financial Sector Stability Assessment

April 11, 2013

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The Bahamas: Financial Sector Stability Assessment, (USA: International Monetary Fund, 2013) accessed November 21, 2024

Summary

This article is an overview of the structure of the Bahamian financial system. After the financial crisis in the United States, the Bahamian financial structure showed fragile growth. Tourism, the main source of income for the domestic economy, weakened owing to the U.S. crisis. The increase in oil prices was the key reason for the destroyed infrastructure. However, amidst the vulnerabilities, the banking sector showed stability with high capital and liquidity and sustained challenges; the insurance sector also showed significant improvement. The current financial framework needs to be strengthened, and the mission recommends several reforms to handle financial shocks.

Subject: Banking, Commercial banks, Financial crises, Financial institutions, Financial regulation and supervision, Insurance companies, Nonperforming loans

Keywords: Bahamas liquidation update, Bank lending, Capital base, Caribbean, CBoB authority, CBoB supervision, CLICO Bahamas liquidation update, Commercial banks, CR, Excess reserves, Financial system, Global, Insurance companies, Interest rate, ISCR, Liquidity position, Nonperforming loans, Offshore bank, Onshore bank, Parent company, Price index, Securities Commission of The Bahamas, U.S. dollar

Publication Details

Pages:

88
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2013/101
Stock No:

1BHSEA2013002
ISBN:

9781484357675
ISSN:

1934-7685

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