Financial Sector Assessment : Barbados
The financial system faces a weak economic outlook and a deteriorating fiscal position posing substantial macroeconomic risks. As a result, sovereign risk has increased while the fixed exchange rate further limits policy options. The financial syst...
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| Format: | Financial Sector Assessment Program (FSAP) |
| Language: | English en_US |
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World Bank, Washington, DC
2014
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2014/03/19377348/barbados-financial-sector-assessment http://hdl.handle.net/10986/18242 |
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okr-10986-18242 |
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| recordtype |
oai_dc |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ACCOUNTING ASSET MANAGEMENT ASSET QUALITY ASSET RATIO ASSET VALUES ASSETS RATIOS BALANCE SHEET BANK CREDIT BANK LENDING BANK SUPERVISION BANKING SECTOR BANKING SYSTEM BANKRUPTCY BANKRUPTCY LAW BID BROKERAGE BROKERS CAPACITY BUILDING CAPITAL ADEQUACY CAPITAL MARKET CAPITAL MARKET DEVELOPMENT CAPITAL MARKETS CAPITAL MARKETS DEVELOPMENT CAPITAL REQUIREMENTS CAPITALIZATION CASH PAYMENT CENTRAL BANK CENTRAL SECURITIES DEPOSITORY CHECKING ACCOUNTS COLLATERAL COLLATERAL REGISTRY COMMERCIAL BANK COMMERCIAL BANK LOANS COMMERCIAL BANKING COMMERCIAL BANKS CONSUMER LOANS CONSUMER PROTECTION CORPORATE GOVERNANCE CREDIBILITY CREDIT CARDS CREDIT GROWTH CREDIT INFORMATION CREDIT PROVISION CREDIT QUALITY CREDIT RATING CREDIT RATINGS CREDIT RISK CREDIT STANDING CREDIT UNION CREDIT UNIONS CREDITOR CURRENT ACCOUNT DEFICIT DEBT LEVELS DEBT SECURITIES DEBTOR DEPOSIT DEPOSIT INSURANCE DEPOSIT TAKING INSTITUTION DEPOSITORS DEPOSITS DISBURSEMENTS ENFORCEABILITY ENFORCEMENT POWERS EQUITIES EQUITY MARKET EUROBOND EXTERNAL DEBT FINANCIAL CRISIS FINANCIAL INFRASTRUCTURE FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL STABILITY FINANCIAL SUPPORT FINANCIAL SYSTEM FISCAL DEFICIT FIXED EXCHANGE RATE FIXED INCOME FIXED INCOME MARKET FORECLOSURE FORECLOSURE PROCEDURES FOREIGN BANKS FOREIGN CURRENCY FOREIGN EXCHANGE FOREIGN EXCHANGE TRANSACTIONS FOREIGN FINANCIAL INSTITUTIONS GOVERNMENT BONDS GOVERNMENT DEBT GOVERNMENT DEBT SECURITIES GOVERNMENT GUARANTEES GOVERNMENT INVESTMENTS GOVERNMENT SECURITIES GOVERNMENT SECURITIES HOLDINGS GROSS DOMESTIC PRODUCT HOLDINGS OF GOVERNMENT SECURITIES ILLIQUID MARKET INSIDER TRADING INSTITUTIONAL INVESTOR INSTITUTIONAL INVESTORS INSURANCE INSURANCE COMPANIES INSURANCE CORPORATION INSURANCE INDUSTRY INSURANCE POLICIES INSURANCE PREMIUMS INTERNATIONAL BANKS INTERNATIONAL INSURANCE INVESTMENT ASSETS INVESTMENT PORTFOLIOS INVESTMENTS IN EQUITY ISSUANCE LABOR MARKET LEGAL FRAMEWORK LEGAL PROTECTION LEVEL OF RISK LEVEL PLAYING FIELD LIABILITY LIFE INSURANCE LIFE INSURANCE COMPANY LIFE INSURANCE PRODUCTS LINES OF CREDIT LIQUID ASSETS LIQUIDATION LIQUIDITY LIQUIDITY RATIOS LOAN CLASSIFICATION LOAN OFFICE LOAN PORTFOLIOS LOCAL CURRENCY MACROECONOMIC CONDITIONS MACROECONOMIC MANAGEMENT MACROECONOMIC RISKS MARKET CONDITIONS MARKET PRICE MARKET PRICES MARKET RISK MARKET RISKS MARKET STRUCTURE MATURITY MATURITY MISMATCHES MONETARY FUND MONETARY POLICIES MORAL HAZARD MORAL SUASION MORTGAGE MORTGAGE FINANCE MORTGAGE LOAN MORTGAGE LOANS MORTGAGES MOVABLE ASSETS MUTUAL FUND MUTUAL FUNDS NATIONAL BANK NON-PERFORMING LOAN NON-PERFORMING LOANS NONPERFORMING LOANS NPL OFFSHORE BANKS OLD-AGE PENSIONS OPERATIONAL INDEPENDENCE PENSION PENSION FUNDS PERSONAL LENDING PERSONAL LOANS PERSONAL MORTGAGE PORTFOLIO PORTFOLIO ALLOCATIONS PORTFOLIO PERFORMANCE PRIMARY MARKET PRIVATE CAPITAL PRIVATE CAPITAL INFLOWS PRIVATE CREDIT PRIVATE INVESTMENTS PRIVATE PLACEMENT PRUDENTIAL STANDARDS PRUDENTIAL SUPERVISION PUBLIC DEBT REAL ESTATE LOANS REGULATORY CONSTRAINTS REGULATORY FRAMEWORK REGULATORY STANDARDS REPAYMENT RESERVE RESERVES RETURN RETURN ON ASSETS RISK EXPOSURES RISK MANAGEMENT RISK PROFILE SAFETY NET SAFETY NETS SECONDARY MARKET SECONDARY MARKET ACTIVITY SECURITIES SECURITIES MARKETS SEIZURE SEIZURE PROCEDURE SHARE OF GOVERNMENT SECURITIES SHAREHOLDERS SMALL BUSINESS SOLVENCY SOVEREIGN DEBT SOVEREIGN RISK STOCK EXCHANGE SUPERVISORY POWERS T-BILL TAX TAX EXEMPTION TAX INCENTIVES TERRORISM TRADING TRANSACTION TRANSPARENCY TREASURY TREASURY BILLS UNDERWRITERS VALUATION VALUATION FRAMEWORK VALUATION STANDARDS VALUATIONS VARIABLE RATES |
| spellingShingle |
ACCOUNTING ASSET MANAGEMENT ASSET QUALITY ASSET RATIO ASSET VALUES ASSETS RATIOS BALANCE SHEET BANK CREDIT BANK LENDING BANK SUPERVISION BANKING SECTOR BANKING SYSTEM BANKRUPTCY BANKRUPTCY LAW BID BROKERAGE BROKERS CAPACITY BUILDING CAPITAL ADEQUACY CAPITAL MARKET CAPITAL MARKET DEVELOPMENT CAPITAL MARKETS CAPITAL MARKETS DEVELOPMENT CAPITAL REQUIREMENTS CAPITALIZATION CASH PAYMENT CENTRAL BANK CENTRAL SECURITIES DEPOSITORY CHECKING ACCOUNTS COLLATERAL COLLATERAL REGISTRY COMMERCIAL BANK COMMERCIAL BANK LOANS COMMERCIAL BANKING COMMERCIAL BANKS CONSUMER LOANS CONSUMER PROTECTION CORPORATE GOVERNANCE CREDIBILITY CREDIT CARDS CREDIT GROWTH CREDIT INFORMATION CREDIT PROVISION CREDIT QUALITY CREDIT RATING CREDIT RATINGS CREDIT RISK CREDIT STANDING CREDIT UNION CREDIT UNIONS CREDITOR CURRENT ACCOUNT DEFICIT DEBT LEVELS DEBT SECURITIES DEBTOR DEPOSIT DEPOSIT INSURANCE DEPOSIT TAKING INSTITUTION DEPOSITORS DEPOSITS DISBURSEMENTS ENFORCEABILITY ENFORCEMENT POWERS EQUITIES EQUITY MARKET EUROBOND EXTERNAL DEBT FINANCIAL CRISIS FINANCIAL INFRASTRUCTURE FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL STABILITY FINANCIAL SUPPORT FINANCIAL SYSTEM FISCAL DEFICIT FIXED EXCHANGE RATE FIXED INCOME FIXED INCOME MARKET FORECLOSURE FORECLOSURE PROCEDURES FOREIGN BANKS FOREIGN CURRENCY FOREIGN EXCHANGE FOREIGN EXCHANGE TRANSACTIONS FOREIGN FINANCIAL INSTITUTIONS GOVERNMENT BONDS GOVERNMENT DEBT GOVERNMENT DEBT SECURITIES GOVERNMENT GUARANTEES GOVERNMENT INVESTMENTS GOVERNMENT SECURITIES GOVERNMENT SECURITIES HOLDINGS GROSS DOMESTIC PRODUCT HOLDINGS OF GOVERNMENT SECURITIES ILLIQUID MARKET INSIDER TRADING INSTITUTIONAL INVESTOR INSTITUTIONAL INVESTORS INSURANCE INSURANCE COMPANIES INSURANCE CORPORATION INSURANCE INDUSTRY INSURANCE POLICIES INSURANCE PREMIUMS INTERNATIONAL BANKS INTERNATIONAL INSURANCE INVESTMENT ASSETS INVESTMENT PORTFOLIOS INVESTMENTS IN EQUITY ISSUANCE LABOR MARKET LEGAL FRAMEWORK LEGAL PROTECTION LEVEL OF RISK LEVEL PLAYING FIELD LIABILITY LIFE INSURANCE LIFE INSURANCE COMPANY LIFE INSURANCE PRODUCTS LINES OF CREDIT LIQUID ASSETS LIQUIDATION LIQUIDITY LIQUIDITY RATIOS LOAN CLASSIFICATION LOAN OFFICE LOAN PORTFOLIOS LOCAL CURRENCY MACROECONOMIC CONDITIONS MACROECONOMIC MANAGEMENT MACROECONOMIC RISKS MARKET CONDITIONS MARKET PRICE MARKET PRICES MARKET RISK MARKET RISKS MARKET STRUCTURE MATURITY MATURITY MISMATCHES MONETARY FUND MONETARY POLICIES MORAL HAZARD MORAL SUASION MORTGAGE MORTGAGE FINANCE MORTGAGE LOAN MORTGAGE LOANS MORTGAGES MOVABLE ASSETS MUTUAL FUND MUTUAL FUNDS NATIONAL BANK NON-PERFORMING LOAN NON-PERFORMING LOANS NONPERFORMING LOANS NPL OFFSHORE BANKS OLD-AGE PENSIONS OPERATIONAL INDEPENDENCE PENSION PENSION FUNDS PERSONAL LENDING PERSONAL LOANS PERSONAL MORTGAGE PORTFOLIO PORTFOLIO ALLOCATIONS PORTFOLIO PERFORMANCE PRIMARY MARKET PRIVATE CAPITAL PRIVATE CAPITAL INFLOWS PRIVATE CREDIT PRIVATE INVESTMENTS PRIVATE PLACEMENT PRUDENTIAL STANDARDS PRUDENTIAL SUPERVISION PUBLIC DEBT REAL ESTATE LOANS REGULATORY CONSTRAINTS REGULATORY FRAMEWORK REGULATORY STANDARDS REPAYMENT RESERVE RESERVES RETURN RETURN ON ASSETS RISK EXPOSURES RISK MANAGEMENT RISK PROFILE SAFETY NET SAFETY NETS SECONDARY MARKET SECONDARY MARKET ACTIVITY SECURITIES SECURITIES MARKETS SEIZURE SEIZURE PROCEDURE SHARE OF GOVERNMENT SECURITIES SHAREHOLDERS SMALL BUSINESS SOLVENCY SOVEREIGN DEBT SOVEREIGN RISK STOCK EXCHANGE SUPERVISORY POWERS T-BILL TAX TAX EXEMPTION TAX INCENTIVES TERRORISM TRADING TRANSACTION TRANSPARENCY TREASURY TREASURY BILLS UNDERWRITERS VALUATION VALUATION FRAMEWORK VALUATION STANDARDS VALUATIONS VARIABLE RATES World Bank International Monetary Fund Financial Sector Assessment : Barbados |
| geographic_facet |
Latin America & Caribbean Barbados |
| description |
The financial system faces a weak
economic outlook and a deteriorating fiscal position posing
substantial macroeconomic risks. As a result, sovereign risk
has increased while the fixed exchange rate further limits
policy options. The financial system has sizeable sovereign
risk exposures and non-performing loans are rising although
high capital and liquidity buffers in combination with
strong parent entities mitigate risks. Credit unions appear
more vulnerable. Since the 2008 financial sector assessment
program (FSAP), the regulatory and supervisory framework has
improved across all sectors. Consolidated risk-based
supervision was introduced in the banking sector along with
a formalization of supervisory methodologies. The government
has committed a major adjustment package aimed at
stabilizing international reserves and consolidating the
fiscal position. Even if planned policies are successful,
Barbados will continue to face challenging growth prospects,
driven by weakened tourism markets, including Canada, the
United Kingdom, and the United States; increased competition
from other offshore jurisdictions; and appreciation of the
real effective exchange rate. |
| format |
Economic & Sector Work :: Financial Sector Assessment Program (FSAP) |
| author |
World Bank International Monetary Fund |
| author_facet |
World Bank International Monetary Fund |
| author_sort |
World Bank |
| title |
Financial Sector Assessment : Barbados |
| title_short |
Financial Sector Assessment : Barbados |
| title_full |
Financial Sector Assessment : Barbados |
| title_fullStr |
Financial Sector Assessment : Barbados |
| title_full_unstemmed |
Financial Sector Assessment : Barbados |
| title_sort |
financial sector assessment : barbados |
| publisher |
World Bank, Washington, DC |
| publishDate |
2014 |
| url |
http://documents.worldbank.org/curated/en/2014/03/19377348/barbados-financial-sector-assessment http://hdl.handle.net/10986/18242 |
| _version_ |
1764440231688273920 |
| spelling |
okr-10986-182422021-04-23T14:03:43Z Financial Sector Assessment : Barbados World Bank International Monetary Fund ACCOUNTING ASSET MANAGEMENT ASSET QUALITY ASSET RATIO ASSET VALUES ASSETS RATIOS BALANCE SHEET BANK CREDIT BANK LENDING BANK SUPERVISION BANKING SECTOR BANKING SYSTEM BANKRUPTCY BANKRUPTCY LAW BID BROKERAGE BROKERS CAPACITY BUILDING CAPITAL ADEQUACY CAPITAL MARKET CAPITAL MARKET DEVELOPMENT CAPITAL MARKETS CAPITAL MARKETS DEVELOPMENT CAPITAL REQUIREMENTS CAPITALIZATION CASH PAYMENT CENTRAL BANK CENTRAL SECURITIES DEPOSITORY CHECKING ACCOUNTS COLLATERAL COLLATERAL REGISTRY COMMERCIAL BANK COMMERCIAL BANK LOANS COMMERCIAL BANKING COMMERCIAL BANKS CONSUMER LOANS CONSUMER PROTECTION CORPORATE GOVERNANCE CREDIBILITY CREDIT CARDS CREDIT GROWTH CREDIT INFORMATION CREDIT PROVISION CREDIT QUALITY CREDIT RATING CREDIT RATINGS CREDIT RISK CREDIT STANDING CREDIT UNION CREDIT UNIONS CREDITOR CURRENT ACCOUNT DEFICIT DEBT LEVELS DEBT SECURITIES DEBTOR DEPOSIT DEPOSIT INSURANCE DEPOSIT TAKING INSTITUTION DEPOSITORS DEPOSITS DISBURSEMENTS ENFORCEABILITY ENFORCEMENT POWERS EQUITIES EQUITY MARKET EUROBOND EXTERNAL DEBT FINANCIAL CRISIS FINANCIAL INFRASTRUCTURE FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL STABILITY FINANCIAL SUPPORT FINANCIAL SYSTEM FISCAL DEFICIT FIXED EXCHANGE RATE FIXED INCOME FIXED INCOME MARKET FORECLOSURE FORECLOSURE PROCEDURES FOREIGN BANKS FOREIGN CURRENCY FOREIGN EXCHANGE FOREIGN EXCHANGE TRANSACTIONS FOREIGN FINANCIAL INSTITUTIONS GOVERNMENT BONDS GOVERNMENT DEBT GOVERNMENT DEBT SECURITIES GOVERNMENT GUARANTEES GOVERNMENT INVESTMENTS GOVERNMENT SECURITIES GOVERNMENT SECURITIES HOLDINGS GROSS DOMESTIC PRODUCT HOLDINGS OF GOVERNMENT SECURITIES ILLIQUID MARKET INSIDER TRADING INSTITUTIONAL INVESTOR INSTITUTIONAL INVESTORS INSURANCE INSURANCE COMPANIES INSURANCE CORPORATION INSURANCE INDUSTRY INSURANCE POLICIES INSURANCE PREMIUMS INTERNATIONAL BANKS INTERNATIONAL INSURANCE INVESTMENT ASSETS INVESTMENT PORTFOLIOS INVESTMENTS IN EQUITY ISSUANCE LABOR MARKET LEGAL FRAMEWORK LEGAL PROTECTION LEVEL OF RISK LEVEL PLAYING FIELD LIABILITY LIFE INSURANCE LIFE INSURANCE COMPANY LIFE INSURANCE PRODUCTS LINES OF CREDIT LIQUID ASSETS LIQUIDATION LIQUIDITY LIQUIDITY RATIOS LOAN CLASSIFICATION LOAN OFFICE LOAN PORTFOLIOS LOCAL CURRENCY MACROECONOMIC CONDITIONS MACROECONOMIC MANAGEMENT MACROECONOMIC RISKS MARKET CONDITIONS MARKET PRICE MARKET PRICES MARKET RISK MARKET RISKS MARKET STRUCTURE MATURITY MATURITY MISMATCHES MONETARY FUND MONETARY POLICIES MORAL HAZARD MORAL SUASION MORTGAGE MORTGAGE FINANCE MORTGAGE LOAN MORTGAGE LOANS MORTGAGES MOVABLE ASSETS MUTUAL FUND MUTUAL FUNDS NATIONAL BANK NON-PERFORMING LOAN NON-PERFORMING LOANS NONPERFORMING LOANS NPL OFFSHORE BANKS OLD-AGE PENSIONS OPERATIONAL INDEPENDENCE PENSION PENSION FUNDS PERSONAL LENDING PERSONAL LOANS PERSONAL MORTGAGE PORTFOLIO PORTFOLIO ALLOCATIONS PORTFOLIO PERFORMANCE PRIMARY MARKET PRIVATE CAPITAL PRIVATE CAPITAL INFLOWS PRIVATE CREDIT PRIVATE INVESTMENTS PRIVATE PLACEMENT PRUDENTIAL STANDARDS PRUDENTIAL SUPERVISION PUBLIC DEBT REAL ESTATE LOANS REGULATORY CONSTRAINTS REGULATORY FRAMEWORK REGULATORY STANDARDS REPAYMENT RESERVE RESERVES RETURN RETURN ON ASSETS RISK EXPOSURES RISK MANAGEMENT RISK PROFILE SAFETY NET SAFETY NETS SECONDARY MARKET SECONDARY MARKET ACTIVITY SECURITIES SECURITIES MARKETS SEIZURE SEIZURE PROCEDURE SHARE OF GOVERNMENT SECURITIES SHAREHOLDERS SMALL BUSINESS SOLVENCY SOVEREIGN DEBT SOVEREIGN RISK STOCK EXCHANGE SUPERVISORY POWERS T-BILL TAX TAX EXEMPTION TAX INCENTIVES TERRORISM TRADING TRANSACTION TRANSPARENCY TREASURY TREASURY BILLS UNDERWRITERS VALUATION VALUATION FRAMEWORK VALUATION STANDARDS VALUATIONS VARIABLE RATES The financial system faces a weak economic outlook and a deteriorating fiscal position posing substantial macroeconomic risks. As a result, sovereign risk has increased while the fixed exchange rate further limits policy options. The financial system has sizeable sovereign risk exposures and non-performing loans are rising although high capital and liquidity buffers in combination with strong parent entities mitigate risks. Credit unions appear more vulnerable. Since the 2008 financial sector assessment program (FSAP), the regulatory and supervisory framework has improved across all sectors. Consolidated risk-based supervision was introduced in the banking sector along with a formalization of supervisory methodologies. The government has committed a major adjustment package aimed at stabilizing international reserves and consolidating the fiscal position. Even if planned policies are successful, Barbados will continue to face challenging growth prospects, driven by weakened tourism markets, including Canada, the United Kingdom, and the United States; increased competition from other offshore jurisdictions; and appreciation of the real effective exchange rate. 2014-05-12T15:45:45Z 2014-05-12T15:45:45Z 2014-03 http://documents.worldbank.org/curated/en/2014/03/19377348/barbados-financial-sector-assessment http://hdl.handle.net/10986/18242 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank, Washington, DC Economic & Sector Work :: Financial Sector Assessment Program (FSAP) Economic & Sector Work Latin America & Caribbean Barbados |