World BankInternational Monetary Fund2014-05-122014-05-122014-03https://hdl.handle.net/10986/18242The financial system faces a weak economic outlook and a deteriorating fiscal position posing substantial macroeconomic risks. As a result, sovereign risk has increased while the fixed exchange rate further limits policy options. The financial system has sizeable sovereign risk exposures and non-performing loans are rising although high capital and liquidity buffers in combination with strong parent entities mitigate risks. Credit unions appear more vulnerable. Since the 2008 financial sector assessment program (FSAP), the regulatory and supervisory framework has improved across all sectors. Consolidated risk-based supervision was introduced in the banking sector along with a formalization of supervisory methodologies. The government has committed a major adjustment package aimed at stabilizing international reserves and consolidating the fiscal position. Even if planned policies are successful, Barbados will continue to face challenging growth prospects, driven by weakened tourism markets, including Canada, the United Kingdom, and the United States; increased competition from other offshore jurisdictions; and appreciation of the real effective exchange rate.en-USCC BY 3.0 IGOACCOUNTINGASSET MANAGEMENTASSET QUALITYASSET RATIOASSET VALUESASSETS RATIOSBALANCE SHEETBANK CREDITBANK LENDINGBANK SUPERVISIONBANKING SECTORBANKING SYSTEMBANKRUPTCYBANKRUPTCY LAWBIDBROKERAGEBROKERSCAPACITY BUILDINGCAPITAL ADEQUACYCAPITAL MARKETCAPITAL MARKET DEVELOPMENTCAPITAL MARKETSCAPITAL MARKETS DEVELOPMENTCAPITAL REQUIREMENTSCAPITALIZATIONCASH PAYMENTCENTRAL BANKCENTRAL SECURITIES DEPOSITORYCHECKING ACCOUNTSCOLLATERALCOLLATERAL REGISTRYCOMMERCIAL BANKCOMMERCIAL BANK LOANSCOMMERCIAL BANKINGCOMMERCIAL BANKSCONSUMER LOANSCONSUMER PROTECTIONCORPORATE GOVERNANCECREDIBILITYCREDIT CARDSCREDIT GROWTHCREDIT INFORMATIONCREDIT PROVISIONCREDIT QUALITYCREDIT RATINGCREDIT RATINGSCREDIT RISKCREDIT STANDINGCREDIT UNIONCREDIT UNIONSCREDITORCURRENT ACCOUNT DEFICITDEBT LEVELSDEBT SECURITIESDEBTORDEPOSITDEPOSIT INSURANCEDEPOSIT TAKING INSTITUTIONDEPOSITORSDEPOSITSDISBURSEMENTSENFORCEABILITYENFORCEMENT POWERSEQUITIESEQUITY MARKETEUROBONDEXTERNAL DEBTFINANCIAL CRISISFINANCIAL INFRASTRUCTUREFINANCIAL INSTITUTIONFINANCIAL INSTITUTIONSFINANCIAL STABILITYFINANCIAL SUPPORTFINANCIAL SYSTEMFISCAL DEFICITFIXED EXCHANGE RATEFIXED INCOMEFIXED INCOME MARKETFORECLOSUREFORECLOSURE PROCEDURESFOREIGN BANKSFOREIGN CURRENCYFOREIGN EXCHANGEFOREIGN EXCHANGE TRANSACTIONSFOREIGN FINANCIAL INSTITUTIONSGOVERNMENT BONDSGOVERNMENT DEBTGOVERNMENT DEBT SECURITIESGOVERNMENT GUARANTEESGOVERNMENT INVESTMENTSGOVERNMENT SECURITIESGOVERNMENT SECURITIES HOLDINGSGROSS DOMESTIC PRODUCTHOLDINGS OF GOVERNMENT SECURITIESILLIQUID MARKETINSIDER TRADINGINSTITUTIONAL INVESTORINSTITUTIONAL INVESTORSINSURANCEINSURANCE COMPANIESINSURANCE CORPORATIONINSURANCE INDUSTRYINSURANCE POLICIESINSURANCE PREMIUMSINTERNATIONAL BANKSINTERNATIONAL INSURANCEINVESTMENT ASSETSINVESTMENT PORTFOLIOSINVESTMENTS IN EQUITYISSUANCELABOR MARKETLEGAL FRAMEWORKLEGAL PROTECTIONLEVEL OF RISKLEVEL PLAYING FIELDLIABILITYLIFE INSURANCELIFE INSURANCE COMPANYLIFE INSURANCE PRODUCTSLINES OF CREDITLIQUID ASSETSLIQUIDATIONLIQUIDITYLIQUIDITY RATIOSLOAN CLASSIFICATIONLOAN OFFICELOAN PORTFOLIOSLOCAL CURRENCYMACROECONOMIC CONDITIONSMACROECONOMIC MANAGEMENTMACROECONOMIC RISKSMARKET CONDITIONSMARKET PRICEMARKET PRICESMARKET RISKMARKET RISKSMARKET STRUCTUREMATURITYMATURITY MISMATCHESMONETARY FUNDMONETARY POLICIESMORAL HAZARDMORAL SUASIONMORTGAGEMORTGAGE FINANCEMORTGAGE LOANMORTGAGE LOANSMORTGAGESMOVABLE ASSETSMUTUAL FUNDMUTUAL FUNDSNATIONAL BANKNON-PERFORMING LOANNON-PERFORMING LOANSNONPERFORMING LOANSNPLOFFSHORE BANKSOLD-AGE PENSIONSOPERATIONAL INDEPENDENCEPENSIONPENSION FUNDSPERSONAL LENDINGPERSONAL LOANSPERSONAL MORTGAGEPORTFOLIOPORTFOLIO ALLOCATIONSPORTFOLIO PERFORMANCEPRIMARY MARKETPRIVATE CAPITALPRIVATE CAPITAL INFLOWSPRIVATE CREDITPRIVATE INVESTMENTSPRIVATE PLACEMENTPRUDENTIAL STANDARDSPRUDENTIAL SUPERVISIONPUBLIC DEBTREAL ESTATE LOANSREGULATORY CONSTRAINTSREGULATORY FRAMEWORKREGULATORY STANDARDSREPAYMENTRESERVERESERVESRETURNRETURN ON ASSETSRISK EXPOSURESRISK MANAGEMENTRISK PROFILESAFETY NETSAFETY NETSSECONDARY MARKETSECONDARY MARKET ACTIVITYSECURITIESSECURITIES MARKETSSEIZURESEIZURE PROCEDURESHARE OF GOVERNMENT SECURITIESSHAREHOLDERSSMALL BUSINESSSOLVENCYSOVEREIGN DEBTSOVEREIGN RISKSTOCK EXCHANGESUPERVISORY POWERST-BILLTAXTAX EXEMPTIONTAX INCENTIVESTERRORISMTRADINGTRANSACTIONTRANSPARENCYTREASURYTREASURY BILLSUNDERWRITERSVALUATIONVALUATION FRAMEWORKVALUATION STANDARDSVALUATIONSVARIABLE RATES10.1596/18242