JUDGING the stability of Guernsey’s finance industry was a key focus of the International Monetary Fund during its recent visit to the island, the regulator has said.

The Guernsey Financial Services Commission said the IMF concentrated on three areas on the first of two visits.

These were the investment sector regulatory framework, the banking and insurance sector regulatory frameworks, and the potential vulnerabilities of the finance sector.

Additionally, the IMF also looked at how well the banking and insurance sectors have emerged from stress testing, which has been undertaken by a number of firms in those sectors over recent months.

‘The IMF was interested in what the stress testing says about the robustness of the two sectors as a whole and financial stability,’ GFSC director of Policy and International Affairs Division Richard Walker said.

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