Curaçao and Sint Maarten: Report on the Financial Soundness Indicators

This paper discusses the high-level summary technical assistance report for Curaçao and Sint Maarten on financial soundness indicators (FSI). The High-Level Summary Technical Assistance Report series provides high-level summaries of the assistance provided to IMF capacity development recipients, describing the high-level objectives, findings, and recommendations. The mission, in collaboration with the staff of the Centrale Bank van Curaçao en Sint Maarten (CBCS), successfully developed bridge tables to compile FSIs for commercial banks and savings banks, which could be linked in the long term with its database to automate the FSIs compilation process. The mission also identified a few areas for improvements related to the data collection framework for the deposit takers to be implemented in the medium term. As a result of the mission, the CBCS is able to start reporting the FSI-standard reports, financial soundness metadata, and financial soundness institutional coverage for dissemination on the IMF’s FSI website for Curaçao and Sint Maarten. A timeframe for implementing the mission recommendations including reporting FSIs to statistics department was also discussed and agreed on with the CBCS staff.