World BankInternational Monetary Fund2013-09-252013-09-252004-05https://hdl.handle.net/10986/15818The joint World Bank- International Monetary Fund (IMF) Financial Sector Assessment Program (FSAP) to the countries of the Eastern Caribbean Currency Union (ECCU) was carried out in September and October of 2003. The assessment covered the following: (i) stability issues, including banking system soundness; supervision and regulation of banking; and the adequacy of financial sector crisis management arrangements; and (ii) structural and development issues, specifically competitiveness, efficiency and reach of the financial system including development of non-bank financial institutions and markets. This FSA report summarizes the overall assessment, providing additional detail on the structural and development issues, and highlights the main recommendations that have been provided to the authorities.en-USCC BY 3.0 IGOACCESS TO INTERNATIONAL MARKETSACCOUNTABILITYACCRUALSADMINISTRATIVE COSTSARBITRAGEBALANCE SHEETBANK REGULATIONBANK SPREADSBANK SUPERVISIONBANKING INSTITUTIONSBANKING LAWSBANKING MARKETBANKING PRACTICESBANKING SECTORBANKING SERVICESBANKING SUPERVISIONBANKING SYSTEMBANKSBASIS POINTSBONDSCAPITAL CONTROLSCAPITAL FLIGHTCAPITAL MARKETCAPITAL MARKET DEVELOPMENTCAPITAL REQUIREMENTSCAPITALIZATIONCOMMERCIAL BANKCOMMERCIAL BANKSCOMMERCIAL TERMSCONTINGENCY PLANSCOOPERATIVE CREDITCORPORATE GOVERNANCECOUNTRY TO COUNTRYCREDIBILITYCREDIT QUALITYCREDIT UNIONCREDIT UNIONSCURRENCYCURRENT MATURITIESDEBTDEBT ISSUESDEBT RECOVERYDEBTSDEFICITSDEPOSITDEPOSIT RATESDEPOSITORSDEPOSITSDEVELOPMENT BANKDEVELOPMENT BANKSDIVIDENDSDOMESTIC ARREARSDOMESTIC BANKDOMESTIC BANKINGDOMESTIC BANKSDOMESTIC INSTITUTIONAL INVESTORSEASTERN CARIBBEAN CENTRAL BANKECONOMIC GROWTHECONOMIC PERFORMANCEENFORCEMENT POWERSEQUITY SECURITIESEXPOSUREEXPOSURESFINANCE COMPANIESFINANCIAL FRAGILITYFINANCIAL INSTITUTIONSFINANCIAL INTERMEDIARIESFINANCIAL MARKETFINANCIAL PERFORMANCEFINANCIAL RESOURCESFINANCIAL SECTORFINANCIAL SECTOR ASSESSMENTFINANCIAL SECTOR POLICYFINANCIAL SERVICEFINANCIAL SERVICE PROVIDERSFINANCIAL SERVICESFINANCIAL STABILITYFINANCIAL SYSTEMFINANCIAL SYSTEMSFISCAL AUTHORITIESFIXED EXCHANGE RATEFORECLOSUREFOREIGN BANKSFOREIGN EXCHANGEFOREIGN OWNERSHIPFORMAL FINANCIAL SERVICESGLOBAL FINANCEGLOBAL FINANCIAL SYSTEMGOVERNANCE ISSUESGOVERNMENT BONDGOVERNMENT BOND MARKETGOVERNMENT BORROWINGGOVERNMENT DEBTGOVERNMENT DEBTSGOVERNMENT GUARANTEEGOVERNMENT SECURITIESGOVERNMENT SECURITIES MARKETHOME MORTGAGEHOUSEHOLDSHOUSINGHOUSING FINANCEIMPLICIT TAXINCOMEINCOME GROUPSINCOME TAXINFORMATION FLOWINSENSITIVITYINSTITUTIONAL DEVELOPMENTINSURANCEINSURANCE COMPANIESINSURANCE INDUSTRYINTEREST RATESINTERMEDIATION SPREADINTERNAL AUDITINTERNATIONAL BANKINGINTERNATIONAL MARKETSINVESTINGINVESTMENT POLICIESINVESTMENT STRATEGYJUDICIAL SYSTEMJURISDICTIONJURISDICTIONSLEGISLATIONLENDERLENDERSLENDING INTEREST RATESLENDING PATTERNSLIQUIDITYLOANLOAN APPRAISALLOAN PROGRAMSLOCAL BANKSLOCAL GOVERNMENTSLOCAL INSTITUTIONSLOCAL MARKETLONG-TERM FUNDSLONG-TERM INVESTORSMARKET CAPITALIZATIONMARKET CONDITIONSMARKET DEVELOPMENTMARKET INTEGRATIONMARKET SIZEMATURITIESMINIMUM CAPITAL REQUIREMENTSMISSING MARKETSMONETARY STABILITYMORTGAGEMORTGAGE BANKMORTGAGE FINANCEMORTGAGE LENDERSMORTGAGE RATESMORTGAGE-BACKED SECURITIESNATIONAL DEVELOPMENTNONBANKSOFFSHORE BANKINGOFFSHORE BANKSOPERATING COSTSOPERATIONAL INDEPENDENCEPRIVATE BANKSPRIVATE LOANSPRIVATIZATIONPRUDENTIAL REGULATIONSPRUDENTIAL STANDARDSPUBLIC COMPANIESPUBLIC SECTOR DEBTREGIONAL BANKSREGULATORSREGULATORY AUTHORITYREGULATORY FORBEARANCEREGULATORY REGIMEREGULATORY SYSTEMREPUTATIONREPUTATION RISKRESERVERESERVE REQUIREMENTRESERVESRESIDENTIAL MORTGAGERESIDENTIAL MORTGAGESRETURNRETURNSRISK MITIGATIONRISK WEIGHTSSAVINGSSAVINGS RATESECURITIESSECURITIES EXCHANGESECURITIES MARKETSECURITIES MARKETSSECURITIZATIONSHORT-TERM ASSETSSMALL BUSINESSSMALL ECONOMYSMALL SAVERSSTUDENT LOANSUBSIDIARYSUPERVISORY FRAMEWORKSYSTEMIC RISKSTAXTAXATIONTECHNICAL ASSISTANCETRADINGTRANSPARENCYWHOLESALE MARKETWITHDRAWALWorld Bank10.1596/15818