Financial Interconnectedness and Financial Sector Reforms in the Caribbean

Financial Interconnectedness and Financial Sector Reforms in the Caribbean
Author :
Publisher : International Monetary Fund
Total Pages : 34
Release :
ISBN-10 : 9781475570823
ISBN-13 : 1475570821
Rating : 4/5 (821 Downloads)

Book Synopsis Financial Interconnectedness and Financial Sector Reforms in the Caribbean by : Ms.Sumiko Ogawa

Download or read book Financial Interconnectedness and Financial Sector Reforms in the Caribbean written by Ms.Sumiko Ogawa and published by International Monetary Fund. This book was released on 2013-07-31 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial sector linkages have increased continuously in the Caribbean with cross border capital flows and financial conglomerates dominating the financial system. While the greater interconnectedness can heighten systemic risks and likelihood of contagion, it can have positive impacts provided the regional authorities take steps to prevent the systemic risk. In this context, financial sector reform measures aimed at bolstering and harmonizing prudential regulations in line with international best practices, the strengthening and enhancement of financial sector supervision to include cross border linkages through consolidated supervision, increased cooperation across supervisors in the region, and the establishment of deposit insurance and crisis resolution frameworks will be critical to maintain financial sector stability and minimize the repercussions of any negative shocks.


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