Financial System Soundness in the Caribbean: An Initial Assessment

By Desiree Cherebin, Rupert D Worrell, Tracy Polius

August 1, 2001

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Desiree Cherebin, Rupert D Worrell, and Tracy Polius. Financial System Soundness in the Caribbean: An Initial Assessment, (USA: International Monetary Fund, 2001) accessed November 21, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

A survey of the financial systems of Caribbean countries reveals systems dominated by banks, with services widely available. Jamaica is the only country to have experienced a financial crisis. The paper describes recent improvements in the regulatory framework, and examines factors, which affect the soundness of the financial system, using both intuitive and econometric methodologies. The study identifies regulatory improvements that are needed, as well as additional data and analysis required to complete the assessment, which revealed no new threats to the financial system.

Subject: Banking, Commercial banks, Credit bureaus, Economic sectors, Financial institutions, Financial markets, Financial sector, Financial services, Insurance companies

Keywords: Bank assets, Bank fragility, Bank supervision harmonization effort, Bank supervision practice, Bank supervisor, Banking sector, Capital base, Caribbean, Commercial banks, Credit bureaus, Development bank, Financial activity, Financial sector, Government bank, Insurance companies, Intervened bank, Liquid asset ratio, Mortgage bank, Supervision department, WP

Publication Details

Pages:

37
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2001/123
Stock No:

WPIEA1232001
ISBN:

9781451854619
ISSN:

1018-5941

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