The Cayman Islands announced on March 15, 2013, that it will enter into a Model 1 Intergovernmental Agreement (IGA) with the US in response to FATCA. With the Model 1 agreement, the information about the foreign assets held by US citizens, required by FATCA, will be collected by the Cayman Islands and then given by the Cayman Islands to the Internal Revenue Service.
It is important to note that the Cayman Islands has only announced an intent to enter into an IGA and that no IGA has yet been signed between the Cayman Islands and the US.