Home Topics Banks

Topic: banks

Banks announce faster system to clear local cheques

Six local retail that partnered to create automated clearing house services in Cayman two years ago, have announced a new system for the clearing of cheques.

Visitor says bank made him close Cayman account

One of the big Cayman banks has forced us to close our bank account, because we do not have a job on Cayman, and...

ATM thief sentenced to 20 months

A man who pleaded guilty to thefts and attempted thefts from the ATMs of two local banks was sentenced on Monday to 20 months’ imprisonment.

Lack of correspondent banking seen as threat to Caribbean region

The Caribbean Association of Banks has warned that if no solution to the decline of correspondent banking relationships among financial institutions in the Caribbean is found, “the very livelihoods of Caribbean people will be in danger.”

CIMA to review firms’ cybersecurity plans

The Cayman Islands Monetary Authority plans to begin reviewing the cybersecurity plans for banks, financial services companies and its other licensees, according to a notice issued recently by the regulator.

Rahn: Negative interest rates are crazy

Would you like for the bank to give you a check each month for your mortgage interest payment rather than you paying the bank interest?

Butterfield’s core earnings improve in first quarter

Butterfield reported first-quarter core earnings of $36 million, $7 million higher than during the same period last year.

Report highlights market risks of Brexit

The Association for Financial Markets in Europe said the capital markets industry may relocate some activities if the U.K. votes to leave the European Union, in a referendum on June 23.

Rahn: Negative interest rates, upside-down economics

One of the odder destructive effects of very low or negative interest rates is the increased incentive to hold cash. Government officials do not like for citizens to hold large amounts of cash because hoarding cash reduces consumer spending, thus slowing economic growth.

SEC, Caledonian agree to settlement

Caledonian Bank and the U.S. Securities and Exchange Commission have agreed to a settlement that permanently bars the Cayman bank and its subsidiaries from trading in penny stocks and imposes a $25 million fine, though the U.S. regulator says it will forgo the payment so Caledonian can pay its creditors.

One family’s battle with foreclosure

Emily Seymour, 67, surveys the scene from the front porch of the home she has owned for 30 years.

Dramatic spike in foreclosures

The number of people losing their homes to foreclosures in the Cayman Islands has almost quadrupled in the last five years.

EDITORIAL – BBC program: A ‘trillion’ thumbs down

The recent BBC documentary on Cayman, "Britain's Trillion Pound Island," is a documentary insult and a journalistic mess.

Is Cayman too shy?

Distasteful as it is to anticipate yet another journalistic hatchet job on the Cayman Islands, the prospect nevertheless becomes a compelling watch for Cayman residents.

Bloomberg: Italy, EU can’t wait on bank reform

Bloomberg View Editorial Board In recent years, Europe has grown accustomed to financial panic – but the latest scare wasn’t about Greece or Cyprus or...


This week