News

21Nov2016
De-risking Strategies of Banks Discussed at Financial Stability Board Meeting At the recent FSB meeting in London, Central Bank of Barbados Governor Dr. DeLisle Worrell commended the FSB for involving small international financial centres like Barbados in the conversation, noting that the island had been affected by de-risking despite having a reputation of being a well-regulated and transparent country....
14Oct2016
Commercial Banks are Between a Rock and a Hard Place The de-risking phenomenon, which has had a severe impact on the Caribbean region, was high on the agenda at the recently concluded Annual Meetings of the International Monetary Fund (IMF) and World Bank....
26Aug2016
FSB progress report on correspondent banking published

FSB has published CBCG progress...

22Aug2016
Christine Lagarde Webcast on Correspondent Banking

On Monday, July 18th, the IMF’s Managing Director,...

28Jul2016
"Tracking the Issue: De-risking" FinCEN explains that, presently, FIs do not have to know the identity of individuals who beneficially own or control the legal entity/clients of FIs....
27Jul2016
Dr. DeLisle Worrell Presents on De-risking at China FSB Meeting The Central Bank of Barbados Governor reported on the impact the phenomenon is having on correspondent banking relationships in the region. ...
30Jun2016
De-Risking and its Impact: The Caribbean Perspective The CARICOM Central Bank Governors Technical Working Group on De-Risking recently released a working paper investigating the extent to which the severing of correspondent banking relationships is affecting the Caribbean....
31May2016
De-risking Discussed at RCG_A Montreal Meeting CBB Governor Dr. DeLisle Worrell moderated a panel discussion on the de-risking phenomenon at the recently concluded Financial Stability Board's Regional Consultative Group, Americas meeting in Montreal....
05Apr2016
De-risking Poses a Major Threat to the Region The decision by major international financial institutions to terminate correspondent banking relationships with regional institutions due to the high costs of compliance with increasingly complex and often inconsistently applied regulatory standards has the potential to leave businesses and individuals in the Caribbean cut off from their money....
08Oct2015
The Barbados IBFS Sector and the Efficiency of International Commerce International companies are able to increase their competitive offerings on the global market by judicious use of Barbados' IBFS centre. The economic logic that is driven by competitive forces is what drives expectations of continuing growth of IBFS services in Barbados and elsewhere....
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