129 / 174
(expressed in Eastern Caribbean dollars)
March 31, 2017
115
ECCB ANNUAL REPORT 2016/2017
EASTERN CARIBBEAN CENTRAL BANK
NOTES TO THE FINANCIAL STATEMENTS
Eastern Caribbean Central Bank
Notes to the Financial Statements
March 31, 2017
( xpressed in Eastern Caribbean dollars)
51
3. Financial risk management
…
continued
f) Fair value
Fair value is the arm’s length consideration for which an asset could be exchanged or a liability
settled, between knowledgeable, willing parties, who are
under no compulsion to act and is best evidenced by a quoted market price, if one exists.
(i) Financial instruments not measured at fair value
The table below summarises the carrying amounts and fai
r values of those financial assets and liabilities not presented in the Bank’s
statement of financial
position at their fair value:
Carrying value
Fair value
2017
2016
2017
2016
$
$
$
$
Financial assets
Balances with other central banks
11,856,639
4,926,288
11,856,639
4,926,288
Balances with foreign banks
52,855
77,071
52,855
77,071
Money market instruments and money at call
833,051,907
1,314,881,475
833,051,907
1,314,881,475
Balances with local banks
1,838,469
3,187,985
1,838,469
3,187,985
Due from local banks
21,037,397
–
21,037,397
–
Term deposits
–
domestic
10,059,690
10,070,538
10,059,690
10,070,538
Loans and receivables
–
participating governments’ securities
73,334,339
83,912,190
73,334,339
83,912,190
Loans and receivables
–
participating governments’ advances
40,496,304
55,692,292
40,496,304
55,692,292
Accounts receivable
10,022,357
6,644,699
10,022,357
6,644,699
1,001,749,957
1,479,392,538
1,001,749,957
1,479,392,538
Financial liabilities
Demand and deposit liabilities
–
domestic
4,737,355,128
4,752,457,319
4,737,355,128
4,752,457,319
Demand and deposit liabilities
–
foreign
10,284,983
1,807,143
10,284,983
1,807,143
IMF government general resource accounts
1,133,444
1,083,238
1,133,444
1,083,238
4,748,773,555
4,755,347,700
4,748,773,555
4,755,347,700