by Charlie Bush
The Caribbean’s financial industry has been severely affected by de-risking in the past two years. Various organisations and institutions have attempted to measure the extent of this phenomenon, including the Caribbean Association of Banks’ correspondent banking survey. Published recently, the survey and its accompanying report provide detailed information on how this region has been significantly damaged by regulators in the USA and Europe. Some of the results appear to fit with common assumptions made regarding de-risking; others however come as a surprise.