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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)
9. Loans and receivables: Participating governments’ securities
...continued
The movement in loans and receivables: participating governments’ securities may be summarized as
follows:
Debentures
$
Treasury Bills
$
Total
$
Balance as of March 31, 2015
87,215,531 8,810,760
96,026,291
Payment of principal
(9,565,310)
-
(9,565,310)
Reduction in Treasury Bill holdings
-
(4,429,680)
(4,429,680)
Balance as of March 31, 2016
77,650,221
4,381,080
82,031,301
Payment of principal
(5,999,182)
-
(5,999,182)
Reduction in Treasury Bill holdings
-
(4,381,080)
(4,381,080)
Balance as of March 31, 2017
71,651,039
-
71,651,039
10. Loans and receivables: Participating governments’ advances
2017
$
2016
$
Operating accounts:
- Government of Anguilla
14,277,078
13,229,963
- Government of St. Vincent and the Grenadines
8,267,217
-
- Government of Grenada
2,078,849
3,497,929
- Government of Saint Lucia
-
7,846,082
24,623,144
24,573,974
Temporary advances:
- Government of St. Vincent and the Grenadines
15,839,312
25,252,606
- Government of Antigua and Barbuda
-
5,622,328
15,839,312
30,874,934
Interest receivable
33,848
243,384
Total temporary advances
15,873,160
31,118,318
Total due from participating governments’ advances
40,496,304
55,692,292
Current
40,496,304
55,692,292
Amounts due from participating governments for temporary advances and operating account overdraft
balances are unsecured and usually accrue interest at 6.50% per annum.