Cayman Islands: Assessment of the Supervision and Regulation of the Financial Sector—Volume II—Detailed Assessment of Observance of Standards and Codes
Electronic Access:
Free Download. Use the free Adobe Acrobat Reader to view this PDF file
Summary:
This paper reviews key findings of the detailed assessment of the Observance of Standards and Codes in the Financial Sector of the Cayman Islands. Banks in the Cayman Islands operate within a well-defined prudential regulatory framework, generally in accordance with Basel standards, that is, largely modeled after the framework currently in use in the United Kingdom. The two-tiered required minimum risk capital standards are significantly above those required by the Basel Capital Accord and are applied in practice based primarily on the perceived differences in risk related to bank ownership.
Series:
Country Report No. 2005/092
Subject:
Anti-money laundering and combating the financing of terrorism (AML/CFT) Banking Crime Financial institutions Insurance Insurance companies Money laundering Mutual funds
English
Publication Date:
March 11, 2005
ISBN/ISSN:
9781451809749/1934-7685
Stock No:
1CYMEA2005002
Pages:
144
Please address any questions about this title to publications@imf.org