On-site examinations conducted by The Central Bank of The Bahamas have dropped 40 percent in 2010 according to its annual report, with the governor of the financial institution attributing the decline to the implementation process of the Risk-Based Supervision Framework (RBSF).
Wendy Craigg told Guardian Business yesterday that the decline in on-site examinations — which dropped from 44 in 2009 to 26 in 2010 — occurred because of the bank’s concentrated effort to fully bring the RBSF on-stream, which is expected to be a more refined and modern method of risk assessment.
“Our on-site bank examiners have been closely involved in the roll-out of the risk assessment ...

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