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ECCB ANNUAL REPORT 2016/2017
EASTERN CARIBBEAN CENTRAL BANK
NOTES TO THE FINANCIAL STATEMENTS
(expressed in Eastern Caribbean dollars)
March 31, 2017
Eastern Caribbean Central Bank
Notes to the Financial Statements
March 31, 2017
(expressed in Eastern Caribbean dollars)
3. Financial risk management
…continued
b) Credit risk
…continued
Credit risk measurement and mitigation policies
…continued
Available-for-sale investment securities
and money market instruments and money at
call…continued
Money market instruments and money at call
2017
2016
Rated (Moody’s)
Commercial paper and certificate of deposits
$
$
Aa1
49,370,623
13,497,079
Aa2
156,867,824
80,959,857
Aa3
290,654,950
219,809,594
A1
286,400,881
107,755,426
783,294,278
422,021,956
Unrated
2017
2016
$
$
Money at call
129,678,202
686,165,930
Term deposits
701,509,299
628,331,613
831,187,501
1,314,497,543
Loans and advances to participating governments
Advances are based on Board approved credit allocation limits. Requests for advances by member
governments are reviewed to ensure that the amounts are within the approved allocated limits.
These approved limits are calculated and assigned to the governments annually.
Due from local banks
Advances are granted to commercial banks in accordance with Part VIII, Article 31(2) and Part IIa,
Article 5B of the ECCB Agreement Act 1983. Under Part VIII, Article 31(2), the borrowing bank
must pledge collateral with the Central Bank and can only borrow ninety per cent of the collateral
amount pledged.