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The Banking Division was responsible for the supervision of 159 banks as at the end of December 2016 (September 2016: 175 and December 2015: 184). These are comprised of 6 retail and 5 non-retail Category ‘A’ banks and 148 Category ‘B’ banks, portraying a sound and resilient banking sector in a challenging global financial environment. The majority of these banks are branches (101) and subsidiaries (41) of international banks from North America, Europe, and South America, as shown below.
As at June 2015, total international assets and liabilities (cross-border positions in all currency and domestic positions in foreign currency) were reported as US$1.39 and US$1.44 trillion, respectively (June 2014: also US$1.39 and US$1.44 trillion, respectively). The jurisdiction continues to be ranked sixth internationally based on the value of cross-border assets - US$1.37 (June 2014: US$1.36) - and fifth in terms of cross-border liabilities - US$1.38 (June 2014: US$1.39 trillion) highlighting the role of the Cayman Islands as a financial intermediary.
Cross-Border Assets and Liabilities
Of the international assets and liabilities booked by the 184 banks as at June 2015, $24 and $60 million of assets and liabilities, respectively, were booked in the domestic economy with other legally domiciled licensed entities considered as resident entities.
Domestic Assets and Liabilities in Foreign Currency
A reputation of sensible regulation comparable to other international financial centres coupled with a competent workforce of lawyers, bankers, and accountants, provides the base on which Cayman continues to build its clientele. Licensees represent some 45 countries from across the globe.
The Cayman Islands is recognised as one of the top 10 international financial centres in the world, with over 40 of the top 50 banks holding licences here. This is a testament to the worldwide recognition of the quality of Cayman's financial Industry. Over 80 percent of more than US$1 trillion on deposit and booked through the Cayman Islands, represents inter-bank bookings between onshore banks and their Cayman Islands branches or subsidiaries. These institutions present a very low risk profile for money laundering.
Banking Digest and Banking Sector Report
Banking Statistical Digest 2011-2014
Cayman Islands Banking Sector Report - Fiscal Year 2015
Detailed Statistics (updated quarterly)
Number of Licensees & Other Entities supervised by the Banking Supervision Division
Number of Banks by Category
Number of Banks by Region
List of Regulated Entities (updated quarterly)
List of all Category "A" Banks licensed with the Cayman Islands Monetary Authority
List of all Category "B" Banks licensed with the Cayman Islands Monetary Authority
List of Nominee Companies licensed with the Cayman Islands Monetary Authority and supervised by the Banking Supervision Division
List of all Other Entities supervised by the Banking Supervision Division