The Central Bank of Barbados is standardising how it compiles its monetary data to conform to the IMF's Monetary and Financial Statistics Manual and to better align the monetary series with the IMF's Standard Reporting Forms (SRFs). The IMF introduced the SRFs in 2004 and in 2013 the Bank rolled out new common reporting forms for the domestic entities that it regulates. The Government of Barbados’ entry into a four-year Extended Fund Facility arrangement with the IMF on October 2018 (IMF-EFF), also required changes to the way in which statistics for the deposit taking financial system is reported to be consistent with IMF requirements These requirements included the Central Bank Survey, Other Depository Corporations Survey (banks, credit unions and other deposit-taking corporations) and Depository Corporations Survey. Barbados’ First Review under the IMF-EFF was completed in June 2019.
The financial institutions’ data can be accessed from 2012 and onwards in the new format on this page.
To access historical data, please refer to the Historical Data page.
The following information is for the entire Deposit Taking Financial System and is presented in the following broad sections:
- International Reserves, Net Domestic Assets and Monetary Base
- Analytical Surveys of the IMF
- Investments Based on Supplementary Schedules
- Commercial Banks’ Deposit Liabilities Based on Supplementary Schedules
- Commercial Banks’ Loans and Advances Based on Supplementary Schedules
- Other Commercial Banks’ Information
INTERNATIONAL RESERVES, NET DOMESTIC ASSETS AND MONETARY BASE
This information is based solely on the balance of the Central Bank of Barbados and details variable such as Gross Foreign Assets (GFA), Gross International Reserves (GIR), Net International Reserves (NIR), Reserve Liabilities, Net Domestic Assets (NDA) and the Monetary Base. Please be aware that the calculation of international reserves was revised to be more in line with current IMF guidelines. Details on the adjustment were shared in a general press release dated November 6, 2018. It is important to be aware that subsequently foreign assets in the Central Bank’s staff pension fund as well as Government of Barbados foreign sinking funds’ assets were excluded from the calculation of reserves.
- International Reserves, Net Domestic Assets and Monetary Base (Tables A2, A3)
ANALYTICAL SURVEYS OF THE IMF
Bridging templates are used to transform various types and formats of balance sheets (and select accounting records) into the IMF’s standard sectoral balance-sheet-like structures. These templates are then used to generate analytical surveys that can be compared across various countries. In some instances, where the balance sheets are not available with the preferred level of granularity, assumptions are made.
Three analytical surveys are used for the deposit-taking financial system, which reflect the following aggregates: Net Foreign Assets (NFA), Net Claims on Central Government (NCCG), Claims on Other Resident Sectors (CORS) and Other Items Net (OIN).
For the deposit-taking financial system of Barbados these surveys are based on information related to the Central Bank of Barbados, the commercial banks, the deposit-taking Part III entities and the credit unions.
Central Bank Survey
This information is based on the balance sheets of the Central Bank of Barbados (the Bank) and two special purpose facilities owned by the Bank, namely the Export Credit Insurance Fund (ECIF) and the Small Business Guarantee Fund (SBGF).
In addition to this analytical survey, select perspectives of the sectoral balance-sheet-like structure upon which it is based are also shared:
- Central Bank Survey (Table A1)
- Central Bank's Foreign Assets by Currency - Claims Only (Table A4)
- Central Bank Assets and Liabilities (Tables A5A, A5B, A6A, A6B)
Other Depository Corporations Survey
This information is compiled from the balance sheets of the commercial banks, deposit-taking Part III entities and credit unions. In addition to this analytical survey, select perspectives of the sectoral balance-sheet-like structure upon which it is based are also shared.
Of special note are Tables B2C, B3C and B4C which reflect a sectoral breakdown of loans & advances. Similarly, Tables B2D, B3D and B4D reflect a sectoral breakdown of deposit liabilities.
- Other Depository Corporations Survey (Table B1)
- Other Depository Corporations Assets and Liabilities (Tables B1A, B1B)
- Commercial Banks' Assets and Liabilities (Tables B2A, B2B)
- Commercial Banks' Loans and Advances (Table B2C)
- Commercial Banks' Deposit Liabilities (Table B2D)
- Assets and Liabilities of Trust and Finance Companies and Merchant Banks (Part IIIs) (Tables B3A, B3B)
- Total Loans and Advances of Trust and Finance Companies and Merchant Banks (Table B3C)
- Deposit Liabilities of Trust and Finance Companies and Merchant Banks (Table B3D)
- Credit Unions' Assets and Liabilities (Tables B4A, B4B)
- Credit Unions' Loans and Advances (Table B4C)
- Credit Unions' Deposit Liabilities (Table B4D)
Depository Corporations Survey
The Central Bank Survey and the Other Depository Corporations Survey are consolidated to produce the Depository Corporations Survey. Through this analytical survey, the “
broad money” variable is generated. This variable fundamentally gives a sense of the sum of money available to the public in Barbados. In this context “the public” means the “money-holding sectors” such as non-deposit taking financial institutions, non-financial corporations, business firms and individual households. The information is presented with sufficient granularity to also allow users to derive more narrow measures of money supply.
In addition to this analytical survey, information has also been shared on other select indicators of the Depository Corporations. Select Indicators of Depository Corporations include, among other things: (a) ODC’s deposits liabilities by currency (this excludes any deposits due to ODCs) and (b) ODC’s loans & advances by currency (this excludes any loans and advances extended to ODCs).
- Depository Corporations Survey (Tables C1, C1A)
- Selected Indicators of Depository Corporations (Tables C2, C3, C4)