||Central Bank Of Barbados
Eastern Caribbean Central Bank (ECCB)
Governor, Timothy Antoine, will be the keynote speaker at the Central Bank of
Barbados sponsored Domestic Financial Institutions Conference, which takes
place on Thursday, May 4, 2017.
Antoine, who assumed office in January
2016, will deliver an address on the topic “Imperatives for Financial Sector
Development”, a particularly topical issue given that Caribbean markets continue
to grapple with the lingering effects of the global financial crisis and, more
acutely, with the threat posed by de-risking.
De-risking, the severing of
correspondent banking relationships by international banks due to the high cost
of compliance with regulatory guidelines, has affected countries across the
region as well as in Latin America, Asia, and Africa. In Barbados, the impact
has been felt primarily in the International Business and Financial Services
The health of the local financial
sector will also come under discussion at the conference. Anton Belgrave,
Deputy Director of the Central Bank’s Research and Economic Analysis Department
will review the 2016 Financial Stability Report, which the Bank recently
published with the Financial Services Commission. That report examines the resilience
of different classes of financial institutions, including commercial banks,
credit unions and insurance companies, and uses stress tests to determine their
ability to withstand a variety of shocks.
Other sessions at the conference
include a panel discussion on how financial institutions can protect themselves
and their customers from cyber security threats and another that explores
different perspectives on interest rates. Kim Tudor, of the National Initiative
for Service Excellence (NISE), will make a lunchtime presentation on employee engagement.
The Domestic Financial Institutions
Conference, now in its eighth year is an annual one day conference that
provides a forum for senior officials from the local financial services sector
to discuss matters both domestic and international in origin that have
implications for the local landscape. Participation in the conference is by