Barbados : financial system stability assessment : update, including reports on the observance of standards and codes on the following topics : banking supervision and securities regulation
Glossary; Executive Summary; Boxes; I. Macro Financial and Institutional Setting; A. Macroeconomic Background; B. Macroeconomic Risks; Figures; II. Financial System Institutions and Markets; A. Onshore financial institutions; Tables; B. Institutional Investors; C. Offshore Financial Institutions; III. Financial System Supervision and Regulation; IV. Infrastructure; A. Banking Safety Net Arrangements; B. Bank Resolution; C. Crisis Management; Appendices; I. Observance of Financial Sector Standards and Codes-Summary Assessments
II. Recommended Action Plan to Improve Compliance of the Basel CoreIII. Recommended Action Plan to Improve Implementation of the IOSCO Objectives and Principles of Securities Regulation; IV. Stress Testing Procedures, Assumptions, and Outcomes; V. Barbados: Follow-Up on Key Recommendations of the 2002 FSAP; VI. Barbados-Detailed Recommendations of FSAP Update
Summary
This paper presents Barbados's Financial System Stability Assessment Update as part of the Financial Sector Assessment Program Update. The domestic banking sector appears sound and profitable and continues to dominate the financial system. The financial system has benefited from the strong economic expansion, which has boosted credit demand while contributing to a steady improvement in banks' asset quality. Capital adequacy for locally incorporated banks remains above the minimum required, and profits remain at healthy levels
