2018 Financial Stability Report

FIGURE 1: STRUCTURE OF THE ECCU FINANCIAL SYSTEM

ECCU Financial System

Financial Intermedaries

Financial Markets

Financial Infrastructure

Eastern Caribbean Securities Market

Other Depository Corporations

The Legal and Regulatory Framework and the Payment Settlement System

Monetary Authority

Other Financial Institutions

Interbank Market

Insurance companies, International banks, mortgage companies, finance companies, pension funds, financial holding companies, mutual funds, brokers and agents, trust companies, money services companies, investment

Regional Government Securities

Commercial Banks, Credit Unions, Development Banks,

Eastern Caribbean Central Bank

Equity Market

Market (RGSM)

Building Societies

I. Financial Intermediaries Financial intermediaries operating in the ECCU include institutions licensed under the Banking Act (commercial banks and NBFIs), credit unions and insurance companies. The ECCU financial system is dominated by the commercial banking sector. The dominance of the banking sector is evident in areas such as asset size, deposit base and credit to the private sector. In addition to commercial banks, there were 11 NBFIs licensed under

the Banking Act, which include finance companies. At the end of 2018, total assets of the sector accounted for about 81.0 per cent of total domestic assets of the financial sector. The system also included 49 credit unions distributed among 7 member countries and approximately 160 insurance entities.

Financial Stability Report 2018

6