Trevor Brathwaite, Deputy Governor of the Eastern Caribbean Central Bank (ECCB)
The region is being urged to look at the feasibility of establishing a Caribbean bank in the United States.
This would address the loss of correspondent banking services being experienced by financial institutions in the Caribbean.
Trevor Brathwaite, Deputy Governor of the Eastern Caribbean Central Bank (ECCB) said there are a number of banks in London that are owned by foreigners and similar options could be explored in the US.
Mr. Braithwaite said a feasibility study would show the benefits to an outright purchase, a second tier bank, or the establishment of a bank by private interests.
Governments, indigenous banks and offshore banks located in the Caribbean are concerned about the withdrawal of correspondent relations from by US banks.
.jpg)
All feeds
