IMF Staff Country Reports

The Bahamas: Technical Assistance Report-Operationalizing the New Bank Resolution Framework and Amended Deposit Insurance Legislation—Second Mission

Publication Date:

August 21, 2023

Electronic Access:

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Summary:

The CBOB has made good progress in implementing recovery plans for the domestic systemically important banks (DSIBs). Building on this progress, the mission recommends that the CBOB provide the DSIBs with structured feedback on their initial recovery plans and, based on lessons learned from the pilot, provide to all banks and credit unions updated industry-wide guidance that sets out high-level expectations on the content for recovery plans. Engagement with home supervisory authorities of foreign-owned banks should also be strengthened, with a view to seeking to ensure that parent-bank recovery plans adequately address recovery actions for subsidiaries in the Bahamas.

Series:

Country Report No. 2023/306

Subject:

Bank resolution Bank resolution framework Bridge bank Contingency planning Credit bureaus Financial crises Financial markets International organization Monetary policy

Frequency:

regular