Grenada: Systemic Risk Monitoring

The technical assistance aimed to build capacity to monitor and assess systemic risk for non-bank financial institutions in the Grenada Authority for the Regulation of Financial Institutions (GARFIN).
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Volume/Issue: Volume 2024 Issue 035
Publication date: November 2024
ISBN: 9798400293610
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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.

Finance , Business and Financial , Insurance companies , Commercial banks , Financial sector stability , Stress testing , Systemic risk assessment , Credit bureaus , Financial sector risk , Systemic risk , Financial stability assessment

Summary

The technical assistance aimed to build capacity to monitor and assess systemic risk for non-bank financial institutions in the Grenada Authority for the Regulation of Financial Institutions (GARFIN). The mission underlined the need to clarify the macroprudential mandate and cooperation with the ECCB to conduct the macroprudential work accordingly. A potential extension of the existing Annual Report and Accounts covering key financial stability indicators and their assessment could be considered. It further highlighted the need to revise the existing reporting templates to reflect systemic risk better. Finally, the important role of the data management system was underlined.