Eastern Caribbean Currency Union: Financial System Stability Assessment, including Report on the Observance of Standards and Codes on Banking Supervision

Author: International Monetary Fund. Monetary and Capital Markets Department

Volume/Issue: Volume 2004 Issue 293

Publication date: September 2004

ISBN: 9781451811636

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Finance , Investments and Securities-General , ISCR , CR , bank , enforcement power , bank auditor , ECCB Acts , bank management , draft contingency plan , ECCB currency arrangement , ECCB faces reputation risk , demand liability , bank affiliate , faces reputation risk , bank regulator , request bank , ECCB act , reputation risk , ECCB reserve , Offshore financial centers , Commercial banks , Loans , Securities , Caribbean , Global

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Peru

Nepal

Grenada

Republic of Congo : 2001 Article IV

Summary

This Financial System Stability Assessment on the Eastern Caribbean Currency Union (ECCU) reviews overall stability assessment. The fiscal position of the governments in the region has deteriorated sharply in recent years. A source of strength of the ECCU has been the large historical presence of strong foreign banks. However, the structure of the banking industry is changing with the entry of more aggressive regional banks, and the share of privately owned banks has increased. The limited activity of the organized ECCU securities markets reflects the small number of securities available for trading.