; and the presence of relatively higher-risk businesses such as money or value transfer services, payment settlement services, offshore sectors, or gaming, especially those businesses lacking physical presence ( IMF 2017 ). Various characteristics of the Caribbean economies make them more vulnerable to perceptions of potential AML/CFT risks. For example, many Caribbean countries tend to transact a higher-than-average volume of remittances per capita (see Figure 12.1 ). Money or value transfer services can be a channel through which banks face exposure to AML
readiness and social readiness to deal with climate vulnerabilities. Higher scores indicate higher vulnerabilities and better readiness. LIDCs: low-income developing countries; EMs: emerging market economies; AEs: advanced economies; SDS: small developing states in our sample. See annex 1 and 4 for more details. Many SDS face exposure to both the short- and long-term effects of climate change impacts and geo-meteorological hazards ( Annex 2 ). These events, such as storms, cyclones/typhoons or earthquakes, can occur frequently and, often, with high severity effects
; and the presence of relatively higher risk businesses, such as money or value transfer services, payment settlement services, offshore sectors or gaming, especially those with a lack of a physical presence ( IMF, 2017 ). 17. Various characteristics of the Caribbean economies make them more vulnerable to perceptions of potential AML/CFT risks . For example, many Caribbean countries tend to transact a higher than average volume of remittances per capita ( Figure 1 ). Money or value transfer services can be a channel through which banks face exposure to AML
Financial Stability 24. The introduction of the RTGS$ raises several challenges for the banking sector . While reported financial soundness indicators ( Table 5 and Figure 5 ) suggest banks were solvent and liquid at end-2018, risks have increased. Following the currency conversion, banks with large net open foreign exchange positions (NOP) face reductions in their capital base. Banks holding long-maturity, fixed-interest rate Treasury bills could also face exposure to potential maturity mismatch relative to their liabilities. Table 5. Zimbabwe: Financial
authorities. When comparing bank long-term assets and long-term liabilities, there is limited maturity mismatch, suggesting that asset–liability are well matched at the long end (right chart, Figure 13 ). In terms of the net aggregate short-term and long-term positions of banks (bottom chart, Figure 13 ), total deposits outweigh assets by a substantial margin, which suggests that banks face exposure to interest rate risks and rollover risks. To recap, Mauritius’ short-term foreign-currency liquidity position (maturity mismatch) has continued to improve gradually
should only be minimally screened for quality but should be screened by the External Relations Department, with the assistance of the department where the Working Paper originated, prior to release for confidentiality issues and problematic language. Recommendation 17: Create a new vehicle for nonsenior staff to make presentations to Management and the Executive Board . 179. The Executive Board should have more face-to-face exposure to good Fund research. We recommend that periodically, perhaps four times a year, a Board meeting be scheduled at which staff make