British Virgin Islands: Financial Sector Assessment Program Update: Financial System Stability Assessment

October 25, 2010

Preview Citation

Format: Chicago

British Virgin Islands: Financial Sector Assessment Program Update: Financial System Stability Assessment, (USA: International Monetary Fund, 2010) accessed September 18, 2024

Summary

This paper focuses on financial regulatory policies and stability. The British Virgin Islands (BVI) provides administrative, audit, and legal services to international business companies, which is another key component of the economy. Developments in the financial sector and regulatory framework warrant an update of the assessment conducted under the IMF’s Offshore Financial Center (OFC) program. Financial Services Commission Act (FSCA) provides the Financial Services Commission (FSC) with a wide array of specific regulatory, supervisory, and enforcement powers. The banking system has been insulated from global financial shocks. Many critical elements develop a robust and proportionate crisis management framework.

Subject: Banking, Commercial banks, Economic sectors, Financial institutions, Financial sector, Financial services, Insurance, Mutual funds

Keywords: Business company, BVI authorities, BVI bank, BVI business company, BVI incorporation, BVI insurance industry, BVI law, BVI tourism sector, Caribbean, Commercial banks, CR, Financial sector, FSC authority, FSC staff, Global, Insurance, ISCR, Mutual funds

Publication Details

Pages:

94
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2010/323
Stock No:

1VGBEA2010001
ISBN:

9781455208746
ISSN:

1934-7685

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