Research & Publications

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

Please be sure to review the associated Terms of Use. All queries related to CBBWEBSTATS should be sent to statistics@centralbank.org.bb.

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.

1. 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:

2. Central Bank Survey (Table A1)
3. Central Bank's Foreign Assets by Currency - Claims Only (Table A4)
4. 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.

5. Other Depository Corporations Survey (Table B1)
6. Other Depository Corporations Assets and Liabilities (Tables B1A, B1B)
7. Commercial Banks' Assets and Liabilities (Tables B2A, B2B)
8. Commercial Banks' Loans and Advances (Table B2C)
9. Commercial Banks' Deposit Liabilities (Table B2D)
10. Assets and Liabilities of Trust and Finance Companies and Merchant Banks (Part IIIs) (Tables B3A, B3B)
11. Total Loans and Advances of Trust and Finance Companies and Merchant Banks (Table B3C)
12. Deposit Liabilities of Trust and Finance Companies and Merchant Banks (Table B3D)
13. Credit Unions' Assets and Liabilities (Tables B4A, B4B)
14. Credit Unions' Loans and Advances (Table B4C)
15. 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).

16. Depository Corporations Survey (Tables C1, C1A)
17. Selected Indicators of Depository Corporations (Tables C2, C3, C4

INVESTMENTS BASED ON SUPPLEMENTARY SCHEDULES

Based on supplementary schedules, the following tables provide provisional investment information reported at book value.

1. Commercial Banks’ Investment Portfolio by Country - (Table B2F)
2. Investment Portfolio by Country of Trust and Finance Companies and Merchant Banks (Part IIIs) - (Table B3F)

COMMERCIAL BANKS’ DEPOSIT LIABILITIES BASED ON SUPPLEMENTARY SCHEDULES

Based on supplementary schedules, the following tables provide provisional deposit liabilities information before estimated accrued interest is included. Deposit liabilities are grouped by currency and deposit types: call, demand, savings and time deposits. They are also grouped by money issuer, money neutral and money holding sectors – and their sub-components. Private non-financial corporations are disaggregated by type of business.

1. Commercial Banks’ Deposit Liabilities - Summary (Table B2E)
2. Commercial Banks’ Total Deposit Liabilities (Table B2E1)
3. Commercial Banks’ Deposit Liabilities to Private Non-Financial Corporations (Table B2E1A)
4. Commercial Banks’ Deposit Liabilities - Demand (Table B2E2)
5. Commercial Banks’ Deposit Liabilities - Savings (Table B2E3)
6. Commercial Banks’ Deposit Liabilities - Time (Table B2E4)

COMMERCIAL BANKS’ LOANS AND ADVANCES BASED ON SUPPLEMENTARY SCHEDULES

Based on supplementary schedules, the following tables provide provisional loans and advances information by type of loans: overdrafts, demand loans, mortgages, credit cards, leases and other loans and advances. They are also grouped by money issuer, money neutral and money holding sectors – and their sub-components. Private non-financial corporations are disaggregated by type of business.

1. Commercial Banks’ Loans and Advances - Summary (Table B2C-expanded)
2. Commercial Banks’ Total Loans and Advances (Table B2C1)
3. Commercial Banks’ Loans and Advances to Private Non-Financial Corporations (Table B2C2)
4. Commercial Banks’ Total Loans and Advances – Mortgages (Table B2C3)
5. Commercial Banks’ Loans and Advances to Private Non-Financial Corporations – Mortgages (Table B2C4)

FINANCIAL SOUNDNESS INDICATORS

This table provides a quarterly subset of the core Financial Soundness Indicators (FSI), calculated using the methodology of in the International Monetary Fund’s 2019 Financial Soundness Indicators Compilation Guide. These core FSI cover areas of risk such as capital adequacy, asset quality, earnings and profitability, liquidity and sensitivity to market risk. The data is compiled from the deposit-taking institutions excluding credit unions.

1. Core Financial Soundness Indicators for Deposit Takers

OTHER COMMERCIAL BANKS INFORMATION

Commercial Banks’ Clearings
The 2018 Financial Stability Report states that “Transactional platforms, namely the Caribbean Integrated Financial Services Incorporated (CARIFS), the Barbados Automated Clearing House Services Incorporated (BACHSI) and the Central Bank's Real Time Gross Settlement (RTGS) system, directly facilitated 55 percent of all domestic payments”. While CARIFS and BACHSI tend to process low-value transactions in high volume, the RTGS tends to facilitate high-value transactions in a smaller quantity. Overall, BACHSI payments are basically utilised for bulk direct debit payments and bulk cheque processing.

The RTGS system, facilitates the net settlement of payment transactions processed by CARIFS and BACHSI. This data provides the number of “clearing days”, as well as the total value of transactions cleared through BACHSI.

1. Commercial Banks’ Clearings (Table B2H)

Commercial Banks’ Reserve Requirements and Stipulated Government Securities
This table provides monthly data of the Commercial Banks minimum reserves of cash and government securities required to be held on account at the Central Bank of Barbados (the Bank). The table also provides estimates of excess cash and government securities. These estimates are based on various monthly submissions. The deposit liabilities and local cash holdings of the Commercial Banks, local and foreign cash reserves held with the Bank, and the notional value of government securities.

Section 50 of the Central Bank of Barbados Act 2020 provides that the Bank may require banks or other deposit taking institutions to hold a minimum reserve on accounts at the Bank or in cash.

2. Commercial Banks’ Reserve Requirements and Stipulated Government Securities (Table B2H1)

Central Bank Survey

Central Bank of Barbados survey showing the detailed composition of net foreign assets (NFA), net claims on the central government (NCCG), claims on other depository corporations (CODC), claims on other sectors of the economy (COSE), other items net (OIN), and monetary base (MB).  This information is based on the balance sheet of the Central Bank of Barbados, the Export Credit Insurance Fund (ECIF) and the Small Business Guarantee Fund (SBGF), two special purpose facilities owned by the Bank.

International Reserves, Net Domestic Assets, and Monetary Base

Showing details of Gross Foreign Assets (GFA), Gross International Reserves (GIR), Net International Reserves (NIR), Reserve Liabilities, Net Domestic Assets (NDA) and Monetary Base. (The calculation of international reserves has been revised in accordance with current IMF guidelines. Details on the adjustment have been shared in a general press release of November 6, 2018: click to view). This information is based solely on the balance sheet of the Central Bank of Barbados.

Central Banks' Foreign Assets by Currency

This information is based solely on the balance sheet of the Central Bank of Barbados and is intended to align with the IMF's Currency Composition of Foreign Exchange Reserves (COFER).

Central Bank Assets and Liabilities

This information is based solely on the balance sheet of the Central Bank of Barbados.

Other Depository Corporations Survey

Other Depository Corporations (ODC) survey shows gross items for NFA, claims on the CBB, net claims on the CG (NCCG), COSE, OIN, deposits included in broad money (BM), deposits excluded from BM, and liabilities to the CBB. This information is based on the balance sheet of the commercial banks, the deposit-taking Trust and Finance Companies and Merchant Banks (Part IIIs), and the Credit Unions. All but the credit union data is received monthly. The credit union data is received quarterly.

Other Depository Corporations Assets and Liabilities

This information is based on the collective balance sheets of all deposit-taking entities. The data starts January 2012.

Commercial Banks’ Assets and Liabilities

This information is based the balance sheets of all commercial banks. The data starts January 2012.

Loans and Deposit Liabilities

This loan assets and deposit liabilities information is based on the respective balance sheets of Commercial Banks, Credit Unions, and Trust and Finance Companies and Merchant Banks (Part III). The data starts January 2012. Tables B2C and B2D relate to commercial banks, Tables B3C and B3D relate to deposit taking Part IIIs, and Tables B4C and B4D relate to credit unions.

Assets and Liabilities of Trust and Finance Companies and Merchant Banks (Part IIIs)

This information is based the balance sheets of all Trust and Finance Companies and Merchant Banks. The data starts January 2012.

Credit Unions’ Assets and Liabilities

This information is based the balance sheets of all Credit Unions regulated by the Financial Services Commission (FSC). The data starts January 2012. This information is received quarterly from the FSC – as at March, June, September and December.

Depository Corporations Survey

Depository Corporations (DC) survey is the consolidation of CBB and ODC surveys showing the gross it's for CBB NFA, ODC NFA, ODC NCCG, COSE, OIN and BM.  This information is based on the balance sheet of the Central Bank of Barbados, the Export Credit Insurance Fund (ECIF) and the Small Business Guarantee Fund (SBGF), the balance sheet of the commercial banks, the deposit-taking Trust and Finance Companies and Merchant Banks (Part IIIs), and the Credit Unions.

Selected Indicators of 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)

Investments Based On Supplementary Schedules

This is provisional investment information reported at book value, based on supplementary schedules.

Commercial Banks’ Provisional Deposit Liabilities

Deposit liabilities are grouped by currency and deposit types (call, demand, savings and time deposits), and as well as by money issuer, money neutral and money holding sectors – and their sub-components. Private non-financial corporations are disaggregated by type of business.

This information is based on supplementary schedules, before estimated accrued interest is included.

Commercial Banks’ Loans And Advances

Provisional loans and advances information is grouped by type of loans (overdrafts, demand loans, mortgages, credit cards, leases and other) as well as by money issuer, money neutral and money holding sectors – and their sub-components. Private non-financial corporations are disaggregated by type of business. This information is based on supplementary schedules.

Financial Soundness Indicators

These core FSI cover areas of risk such as capital adequacy, asset quality, earnings and profitability, liquidity and sensitivity to market risk.

Other Commercial Bank Information

This section relates to commercial bank information other than loans, deposits and investments, and provides the commercial bank clearings information based on the Barbados Automated Clearing House Services Incorporated (BACHSI) - providing the number of “clearing days”, as well as the total value of transactions cleared. It also includes the Commercial Banks’ Reserve Requirements and Stipulated Government Securities.