Financial System Soundness in the Caribbean: An Initial Assessment

Desiree Cherebin, Rupert Worrell and Tracy Polius

No 2001/123, IMF Working Papers from International Monetary Fund

Abstract: 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.

Keywords: WP; development bank; bank supervision practice; banking sector; liquid asset ratio; supervision department; Financial sector; Caribbean; bank supervisor; government bank; intervened bank; mortgage bank; capital base; bank supervision harmonization effort; financial activity; bank fragility; bank assets; Commercial banks; Insurance companies; Credit bureaus (search for similar items in EconPapers)
Pages: 37
Date: 2001-08-01
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Citations: View citations in EconPapers (6)

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