The Bermuda Monetary Authority’s midyear financials show a sharp rise in cash holdings, with cash assets climbing to $136.7 million, compared with $71.1 million at the end of 2024, and deferred income jumping to $61.1 million from just $2.2 million at the end of 2024.

The increase appears tied to the Authority’s fee cycle, with annual regulatory fees billed early in the calendar year and recognised as deferred income. This pattern has been seen before — mid-2024 figures also showed elevated cash and deferred income — but the 2025 midyear totals are higher than last year’s.

The rise coincides with the BMA’s new 2025 fee schedule, which introduced a series of updated fees across licensing, registration and supervisory areas. In July, the regulator launched a consultation on further adjustments to its framework.

Beyond fee income, the Authority continues to manage liquidity through overnight placements with the US Federal Reserve, a longstanding practice aimed at ensuring stability and maximising returns on short-term cash, according to its annual reports.

The Royal Gazette reached out to the BMA for comment.