The Central Bank of Trinidad and Tobago’s Annual Report 2024 sets out progress in the third year of its 2021/22–2025/26 strategic plan, including a July 2024 reduction in the primary reserve requirement for commercial banks to 10.0% to address tightened banking system liquidity and a series of supervisory measures aimed at strengthening financial system resilience. On regulation and supervision, the report notes issuance of guidelines on the Basel III leverage ratio, the capital conservation buffer and a framework for determining Domestic Systemically Important Banks (D-SIBs), alongside additional supervisory guidelines on recovery planning, amended insurance products, appointed actuaries and real estate investments. A second Quantitative Impact Study on the Liquidity Coverage Ratio (LCR) was conducted in March 2024, supporting drafting of Financial Institutions (Liquidity) Regulations and an LCR guideline. In payments and currency operations, the manual clearings house closed in January 2024 following full implementation of electronic cheque clearing, supervisory oversight for payment service providers and e-money issuers was enhanced and the E-money Issuer Order (2020) was amended in December 2023 to increase wallet sizes and monthly transaction limits. The Bank also reported engagement with the Ministry of Digital Transformation and the Government of India on implementing the United Payments Interface (UPI), net official reserves of USD 5.7bn at end-September 2024 and a 6.2% rate of return on its composite portfolio in FY2023/24.

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