Eastern Caribbean Currency Union: Financial System Stability Assessment, including Report on the Observance of Standards and Codes on Banking Supervision

International Monetary Fund

No 2004/293, IMF Staff Country Reports from International Monetary Fund

Abstract: This Financial System Stability Assessment on the Eastern Caribbean Currency Union (ECCU) reviews overall stability assessment. The fiscal position of the governments in the region has deteriorated sharply in recent years. A source of strength of the ECCU has been the large historical presence of strong foreign banks. However, the structure of the banking industry is changing with the entry of more aggressive regional banks, and the share of privately owned banks has increased. The limited activity of the organized ECCU securities markets reflects the small number of securities available for trading.

Keywords: ISCR; CR; bank; enforcement power; bank auditor; ECCB Acts; bank management; draft contingency plan; ECCB currency arrangement; ECCB faces reputation risk; demand liability; bank affiliate; faces reputation risk; bank regulator; request bank; ECCB act; reputation risk; ECCB reserve; Offshore financial centers; Commercial banks; Loans; Securities; Caribbean; Global (search for similar items in EconPapers)
Pages: 38
Date: 2004-09-14
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