lawrence williams : an evolving financial services landscape in the caribbean welcome remarks by mr lawrence williams, governor of the bank of guyana, at the 30th annual conference of the caribbean group of banking supervisors, hosted by the bank of guyana, georgetown, 24 may 2012. * * * chairman, caribbean group of banking supervisors, mr. ramnarine lal hon. minister of finance, dr. ashni singh, m. p. hon. minister within the ministry of finance, bishop juan edghill, m. p. deputy governor bank of guyana, dr. gobind ganga banking manager, mr. leslie glen conference delegates special invitees members of the media it is indeed an honour for the bank of guyana to host the 30th annual conference of the caribbean group of banking supervisors under the theme “ regional supervisory imperatives in an evolving financial services landscape ”. i wish to welcome all of the visiting delegates to our shores. i acknowledge the presence of the delegates from thirteen of the sixteen cgbs membership. though our region is small, we are geographically dispersed and travelling to some territories can be a bit of a challenge. i am therefore pleased at the representation and sincerely hope that your stay will be pleasant and memorable. i am also delighted to welcome to our shores and the conference the secretary general of asba, mr. rudy araujo, the chief representative of the bis office of the americas, mr. gregor heinrick, the senior international adviser of the comptroller of the currency, mr. lester miller and advisor on economic crimes in the us treasury department, mr. thomas noller. i have no doubt that your considerable experiences will add value to this conference. it is also fitting that i welcome the hon. minister of finance, dr. ashni singh and the hon. minister within the ministry of finance, bishop juan edghill. the importance of this conference is underscored by the fact that both ministers enthusiastically agreed to adjust their work schedules to be present at this opening ceremony with dr. singh consenting to deliver the feature address. delegates and invitees can expect a very insightful presentation by the minister. ladies and gentlemen, the theme of the conference refers to the evolving financial landscape which is quite evident in many tangible forms though not always easily manageable. as a matter of fact, the changing financial landscape has brought challenges almost every step of the way. it is a testimony to the quality of our regional banking supervisors and the support and nurturing provided by the caribbean group

transaction - oriented approach to supervision and as we move further away, cooperation among the regulatory bodies will become even more important given the home / host relationship and the magnitude of the risk that is inherent in such relationships. i have noted that over the last thirty years, the cgbs has endeavoured to strengthen its supervisory and regulatory framework of the regional central banks and monetary authorities. it has established technical working groups to address inter alia consolidated supervision, crisis management and basle requirements and has put in place the requisite instrument to facilitate information sharing and cooperation with foreign regulatory bodies. your members are also active participants in supervisory colleges where banks span several countries and i am aware that yesterday three supervisory colleges were held. much emphasis has been placed on ensuring that the banking sector remains safe and sound, however, there are non - bank institutions that could severely threaten such safety and soundness and consequently the same level of attention / emphasis should also be directed to those institutions. perhaps, cgbs could consider expanding its conference scope in the future to include regional non - bank regulators with whom your constituents interface. both banks and non - bank financial institutions are integral to the safety and soundness of the financial system. ladies and gentlemen, let me conclude by saying that our approaches to supervision and the depth of our regulation would continue to require proactivity and enhancement as the financial landscape continues to change. the central bank governors of the region will continue to rely on the cgbs to provide the advice and guidance needed to keep our region safe. success in this regards depend on the thoroughness and robustness of your work and bis central bankers ’ speeches the reliability and efficacy of the methods you employ. you must continue to organize and support the necessary training and mentoring of supervisors so that a pool of capable and technically sound personnel is always available and that greater reliability may be placed on their output. during today and tomorrow several papers will be presented on a variety of sub themes and i anticipate that at the end of this conference some critical imperatives would have been identified to steer us through the current challenges and others looming on the horizon. our confidence in the role of the cgbs has never been misplaced. i wish you all successful deliberations and trust that your stay here will afford you the opportunity to discover for yourself the beauty of our country and the warmth of the guyanese people. welcome once again to all. bis central bankers ’ speeches