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International Monetary Fund

of international reserves, supported by appropriately tailored access criteria. There is no deposit insurance fund. Given the magnitude of the bank deposit liability relative to the Cayman Islands GDP and the nature of most of those liabilities, there is no compelling argument to establish one with universal participation. In the future, the authorities could explore options to establish one with participation limited in principle to local banks. Resolution tools include the powers to appoint a comptroller and ultimately a liquidator. Although supervisory