Consultancy To Formulate A Caricom Policy On The Resolution Of Financial Institutions Operating In Caricom Member States

Closing Date: June 7, 2024


  1. Contract reference no.
  2. Procedure
    Open Tendering
  3. Source of Funding
    11TH EDF – Financing Agreement FED/2018/040-087
  4. Contracting Authority
    Caribbean Community (CARICOM)


5. Contract description

The Project seeks to develop a Draft Policy on the Resolution of Financial Institutions operating in CARICOM Member States. The Consultant will review international standards and the experience of advanced and relevant developing countries to determine best practices for resolving financial institutions in CARICOM Member States. This review should inform the preparation of a situational analysis for CARICOM Member States including a review of the financial system, the deposit insurance and resolution regimes, and the experience with handling financial crises in the Community along with new approaches for dealing with systemic risk. The study will also identify systematically important financial institutions and gaps in the resolution framework as well as issues to be addressed by Member States.

Based on the findings of the Situational Analysis, the Consultant will develop technical recommendations for a harmonised resolution framework and a Draft CARICOM Policy which should address, inter alia, the powers and tools of the resolution authority, the role and responsibilities of the various safety-net partners, the triggering of early intervention, and the resolution toolkit and related strategies. Specifically, the Policy should also address the resolution of financial institutions with cross-border operations and identify strategies for mitigating contagion risk…..Read More

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