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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)
57
3. Financial risk management
…
continued
j) Critical accounting estimates and judgements
…
continued
Impairment of financial assets
In determining amounts recorded for impairment losses in the financial statements, management
makes judgements regarding indicators of impairment, that is, whether there are indicators that
there may be a measurable decrease in the estimated future cash receivables, for example, default
and adverse economic conditions. Management also makes estimates of the likely estimated future
cash flows of impaired receivables as well as the timing of such cash flows.
Available-for-sale securities
As at March 31, 2017, the Bank held available-for-sale investment securities of $2,940,136,045
(2016: $2,863,200,523). Quoted debt securities accounted for $2,928,601,754 (2016:
$2,849,762,722). The value of available-for-sale securities which were trading below cost at
March 31, 2017 was $1,968,612,259 (2016: $575,239,552) with total unrealised losses of
$29,331,240 (2016: $652,582). Management considers these losses temporary.
Valuation of land and buildings
The Bank utilises professional valuers to determine the fair value of its properties. Valuations are
determined through the application of different valuation methods which are all sensitive to the
underlying assumptions chosen.
4.
Balances with other central banks and foreign banks
2017
$
2016
$
Balances with other central banks
Balances with Regional central banks
10,934,252
3,397,406
Balances with European central banks
187,916
803,723
Balances with North American central banks
734,471
725,159
Total balances with other central banks
11,856,639
4,926,288
These balances are non-interest bearing.
Balances with foreign banks
Current accounts denominated in United States dollars
52,855
77,071
Current
11,909,494
5,003,359