Bank Supervision

Cooperative Credit Unions

Pursuant to the Bahamas Co-Operative Credit Unions Act, 2015 (“the Credit Unions Act”) and the Central Bank of The Bahamas (Amendment) Act, 2015 (“the CBA”) the Central Bank is responsible for the registration, regulation and supervision of all credit unions operating in and from within The Bahamas. As such, all registrants are expected to adhere to the Central Bank’s registration and prudential requirements, ongoing supervisory programmes, including periodic onsite inspections, and required regulatory reporting.

For your convenience, key industry guidelines and regulations are listed below. The most recent documents are displayed first. To view detailed information about a document, click on the document title. To download a document, click on the appropriate icon in the “Files” column. Each icon represents a different type of file available for download.

Comments on Credit Union Bye-Laws and Guidelines

Published Monday December 21st, 2015

During 2015, the Central Bank issued the Draft Uniform Bye-Laws, along with a Consultation Paper on the following guidelines:

  1. Guidelines for the Management of Liquidity Risk for Credit Unions
  2. Guidelines for the Management of Operational Risk for Credit Unions
  3. Guidelines for the Management of Credit Risk for Credit Unions
  4. Guidelines for the Management of Interest Rate Risk for Credit Unions
  5. Guidelines for the Corporate Governance of Credit Unions

We received a number of comments on these documents and are in the process of finalizing the documents. For information purposes, we have compiled a listing of the comments received, along with the Central Bank’s response to these comments. Please see the documents below.

Bank Supervision