Technical Assistance Reports

The technical assistance aimed to enhance the capacity of the Grenada Authority for the
Regulation of Financial Institutions (GARFIN) to monitor and assess systemic risk for non-bank
financial institutions. The mission emphasized the need to clarify the macroprudential mandate
and strengthen cooperation with the Eastern Caribbean Central Bank (ECCB) to effectively
conduct macroprudential work. It suggested extending the existing Annual Report and Accounts
to include key financial stability indicators and their assessments. Additionally, the mission
highlighted the necessity of revising current reporting templates to better reflect systemic risk.
The importance of a robust data management system was also underscored to facilitate
advanced data queries and improve financial stability analysis. Enhanced staff capacity,
particularly in macro-financial analysis and quantitative skills, was recommended to support
these efforts. Regular communication of key financial stability risks through various channels,
including GARFIN’s website and social media, was also advised to ensure transparency and
stakeholder engagement.