ECCB Governor to Speak at Domestic Financial Institutions Conference

Author(s): Central Bank Of Barbados

Created 01 May, 2017
Categories General Press Release
Views: 1521


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 (IBFS) Sector.

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 invitation only.


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