This paper discusses findings of the assessment of Financial Sector Supervision and Regulation on the Cayman Islands. The assessment reveals that substantial progress has been made in the implementation of the 2003 Offshore Financial Center assessment recommendations, including, importantly, regarding Cayman Islands Monetary Authority’s independence and resources. There is scope for enhancing regulatory reporting and disclosure requirements by financial entities, such as shortening the period for filing required documents and requiring all insurers to disclose their use of derivatives and similar commitments regularly.
domestic assets of the banking system
Of which: credit to the private sector
M2, in percent of GDP
Balance of payments
(In millions of C.I. dollars)
Merchandise trade balance
Source: The Cayman Islands Economic and Statistics