01/06/17

From Comment

De-Risking: The ‘Perfect Hurricane’ Threatening Caribbean IFCs

Caribbean offshore international financial centres (IFCs) are adept at navigating turbulent global waters. The de-risking practices by global banks, manifested most damagingly by the restriction or termination of correspondent banking relationships (CBRs), can be likened to a hurricane threatening to churn already rough seas into a maelstrom, with implications for Caribbean IFCs’ long-term viability. In this article, I will discuss the impact of de-risking on Caribbean IFCs and what is being done so far to address the impact.

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