The Financial Services Regulatory Commission is accepted as member of the CGBS

ST. JOHN’S, Antigua and Barbuda — 13th August 2015…….On June 12 at their CARICOM Central Bank Governor’s Meeting , the Governors approved the application of the Financial Services Regulatory Commission of Antigua and Barbuda to be admitted as an associate member of the Caribbean Group of Banking Supervisors( CGBS) .

The CGBS was established by CARICOM Central Bank Governors in 1983 with the mandate to enhance and coordinate the harmonization of the bank supervisor practices with a view to bringing them in line with internationally accepted practices. The membership consists of banking supervisors from seventeen regional jurisdictions namely: Antigua, Aruba, Bahamas, Belize, British Virgin Island, Cayman Islands, Curacao, St. Maarten, Eastern Caribbean Central Bank, Guyana, Haiti, Jamaica, St Vincent and the Grenadines, Surinam, and Trinidad and Tobago. The CGBS is a regional grouping under the Basel Committee for Banking Supervisors.

The chairmanship is restricted to the different CARCICOM member Central Banks as the CGBS is a creation of the CARICOM Central Bank Governors. In this regard, as an associate member Antigua and Barbuda will enjoy all the rights, privileges and responsibilities of core membership. The chair is currently held by Jamaica.

The Financial Services Regulatory Commission FSRC was accepted as a member of the Group of Finance Centre Supervisors on April 27, 2015.(ENDS)