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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
Bermuda is a British Overseas Territories, British Overseas Territory in the Atlantic Ocean, North Atlantic Ocean. The closest land outside the territory is in the American state of North Carolina, about to the west-northwest.
Bermuda is an ...
. It is not a central bank
A central bank, reserve bank, national bank, or monetary authority is an institution that manages the monetary policy of a country or monetary union. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the mo ...
, and does not provide lender of last resort
In public finance, a lender of last resort (LOLR) is a financial entity, generally a central bank, that acts as the provider of liquidity to a financial institution which finds itself unable to obtain sufficient liquidity in the interbank ...
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 e ...
.
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
*Securities commission
A securities commission, securities regulator or capital market authority is a government department or agency responsible for financial regulation of securities products within a particular country. Its powers and responsibilities vary greatly ...
* List of central banks
This is a list of central banks.
Central banks by alphabetical order
This is a list of central banks. Countries that are only partially recognized internationally are marked with an asterisk (*).
Major central banks by currency allocation p ...
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