Technical Assistance Reports

Barbados: Technical Assistance Report-Financial Stability Report

Publication Date:

April 29, 2024

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

The technical assistance encompassed a comprehensive review of all pertinent aspects aimed at enhancing the joint financial stability report (FSR) of the Central Bank of Barbados (CBB) and the Barbados Financial Services Commission (FSC). The mission determined that the development of a detailed FSR production plan is critical and has the potential to facilitate improvements and synergies among various experts involved in the report’s production. The preparation of a communication plan for the report is another essential step that needs to be taken by the CBB and FSC. The broader macroeconomic context and a more forward-looking perspective should be reflected in the FSR, which needs to be streamlined to follow the central risk story with key messages that are clear and easy to understand to readers with limited knowledge of the financial system in Barbados. The report should reflect all important elements of financial stability assessment, such as the regulatory framework and the analysis of the real sector. The quality of the FSR could be further enhanced through advancements in the financial stability analytical toolkit. Finally, the mission reviewed and provided recommendations on the use of existing as well as potential new data sources that should be fully utilized for financial stability purposes.

Series:

Technical Assistance Report No. 2024/035

Subject:

Central bank bills Central Banks Credit bureaus Financial markets Financial sector policy and analysis Financial sector stability Financial stability assessment International organization Monetary policy Stress testing

Frequency:

regular