Financial Stability Report 2013

Author(s): Central Bank Of Barbados

Created 15 May, 2013
Tags Financial Stability Report Financial Stability Report 2013 FSR FSR 2013
Categories Financial Stability Report
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Even before the global financial crisis of 2008, the financial system in Barbados had grown in size and complexity resulting in a number of regulatory innovations as regulators attempted to keep pace with the changing environment. This ongoing monitoring and legislative fine-tuning have been key pillars in supporting the financial architecture and the overall stability of the system in an adverse post-crisis economic environment. Since 2008, there have been several upgrades to the legislative framework and updated guidelines have been issued by both the Central Bank of Barbados and Financial Services Commission to ensure that the industry is operating in line with international best practices. In addition, continued exchanges between the regional and international supervisors have also contributed to the effective consolidated and cross-border monitoring of institutions. Moreover, significant progress has been made towards the development of a regional financial stability assessment report and work on a regional crisis management and resolution plan has already begun.



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