The Central Bank of Aruba has published its Financial Sector Supervision Report 2024, its 13th annual edition, reviewing key supervisory and regulatory developments and the 2024 financial performance of Aruba’s supervised sectors against solvency and liquidity requirements. The report concludes that supervised institutions remained well capitalised and financially sound, while calling for heightened vigilance given increased downside risks from geopolitical tensions and other emerging threats. Drawing on lessons from recent banking turmoil in the United States and Switzerland, the Bank further tightened the solvency framework for banks, life insurance companies and pension funds by gradually increasing minimum solvency ratios. It also reports progress in designing a deposit insurance scheme, submitted a legislative proposal introducing a legal right to a basic bank account under certain conditions, and highlights consumer credit reforms under the State Ordinance on Consumer Credit including a maximum interest rate for consumer loans, measures to prevent over-crediting, and greater transparency on fees and costs, alongside market conduct provisions aligned with international standards. On operational resilience, the Bank is updating its guidance papers on technology risk and operational resilience. On AML/CFT/CPF, Aruba remains in the Caribbean Financial Action Task Force regular follow-up process, with a follow-up report presented at the December 2024 plenary summarising progress against findings from the 2022 mutual evaluation. The report notes that a new AML/CFT/CPF National Risk Assessment should be carried out as soon as possible, is expected to take 18 to 24 months, and will require significant resources across relevant agencies ahead of the CFATF 5th Round Mutual Evaluation scheduled for 2029.

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