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The Bermuda Monetary Authority (the Authority) is the integrated regulator of the financial services sector in
Bermuda Monetary Authority
Central banks Financial regulatory authorities Economy of Bermuda Banks of Bermuda Government agencies established in 1969 1969 establishments in Bermuda {{Bermuda-stub
The Bermuda Monetary Authority (the Authority) is the integrated regulator of the financial services sector in Bermuda
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. It is not a central bank
A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union,
and oversees their commercial banking system. In contrast to a commercial bank, a centra ...
, and does not provide lender of last resort
A lender of last resort (LOLR) is the institution in a financial system that acts as the provider of liquidity to a financial institution which finds itself unable to obtain sufficient liquidity in the interbank lending market when other faci ...
facilities.
Established under the Bermuda Monetary Authority Act 1969, the Authority supervises, regulates and inspects financial institutions operating from within the jurisdiction. It also issues the Bermudian dollar
The Bermudian dollar (symbol: $; code: BMD; also abbreviated BD$; informally called the Bermuda dollar) is the official currency of the British Overseas Territory of Bermuda. It is subdivided into 100 cents. The Bermudian dollar is not n ...
, manages exchange control transactions; assists other authorities in Bermuda with the detection and prevention of financial crime; and advises the Government and public bodies on banking and other financial and monetary matters.
The Authority develops risk-based financial regulations that it applies to the supervision of Bermuda's banks, trust companies, investment businesses, investment funds, fund administrators, money service businesses and insurance companies. It also licenses companies and regulates the Bermuda Stock Exchange
The Bermuda Stock Exchange (BSX), established in 1971, is located in Hamilton, Bermuda. The stock exchange's 2010 'Year End Review' report stated that its aggregate market capitalisation (excluding mutual funds) stood at US$319 billion.
The ex ...
.
See also
*Bermudian dollar
The Bermudian dollar (symbol: $; code: BMD; also abbreviated BD$; informally called the Bermuda dollar) is the official currency of the British Overseas Territory of Bermuda. It is subdivided into 100 cents. The Bermudian dollar is not n ...
*Economy of Bermuda
Bermuda is a British Overseas Territory comprising a number of islands, with an area of , located in the North Atlantic Ocean, which in 2016 had a population of 65,331.
Bermuda now has the fourth highest per capita incomes in the world, prima ...
* Securities commission
External links
Bermuda Monetary Authority
Central banks Financial regulatory authorities Economy of Bermuda Banks of Bermuda Government agencies established in 1969 1969 establishments in Bermuda {{Bermuda-stub