Basel II and III Implementation Program
The Central Bank of The Bahamas (‘the Central Bank’) has adopted a Basel Implementation Program comprising elements of both the Basel II and III frameworks. The Central Bank’s Basel Implementation Program is expected to be both pragmatic and flexible, thus taking into account the types of banks and the scale of their operations within this jurisdiction.
The Central Bank proposes to stage the execution of its Basel Implementation Program in three phases with a full roll-out over a 30-month timeline. The formal program commenced in Q3 of 2013 and is expected to end Q4 of 2015, with the effective ‘go live’ implementation set for Q1 of 2016.
Guidelines for the Internal Capital Adequacy Assessment Process (ICAAP)
Published Tuesday August 2nd, 2016
These guidelines specifically address licensees’ responsibility in developing and implementing its own Internal Capital Adequacy Assessment Process (ICAAP) for the purpose of setting internal capital targets and developing strategies for achieving those internal targets that are consistent with its business plans, risk profile and current operating environment