Central Bank and Financial Services Commission to Host Financial Stability Roundtable

The Central Bank of Barbados and the Financial Services Commission will launch the 2023 Financial Stability Report during a roundtable discussion on Wednesday, June 26, at 11:00 a.m. The event, which will be livestreamed on the Central Bank's Facebook page and YouTube channel, will feature Central Bank Governor Dr. Kevin Greenidge, FSC CEO Warrick Ward, and officials from Barbados' banking, credit union, and insurance sectors.

The Financial Stability Report, a joint publication by the two entities, assesses the soundness of the island's financial system.

"We've revamped the report to make it even more robust and forward-looking," said Novaline Brewster, Director of Communications, Information, and Outreach at the Central Bank. "It continues to provide a health check on the major players in the financial sector to reveal not only how they performed last year, but also how they would perform under adverse circumstances. This year, however, we have also identified and analysed three key risks that could impact the stability of our financial system.

"This discussion will give Barbadians the opportunity to learn the findings of the report as well as to hear the perspectives of both the regulators and officials from the financial sector."

Commercial banks, credit unions, and insurance companies are the three largest players in Barbados' financial system. The three have combined assets of $22.1 billion.

"The vast majority of Barbadians have a savings account, a pension plan, or an insurance policy. So, I encourage everyone to log on and hear how the sector and the entire financial system are performing."