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154
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)
23. Contingencies and commitments
...continued
Leasehold obligation
–
operating leases
...continued
Leasehold obligation
–
operating leases
All agency offices operate out of leased premises with lease terms ranging from 2 to 33 1/3 years.
Lease rentals payable on operating leases are expensed on a straight line basis over the term of the
leases.
Minimum lease payments subsequent to 2017 and in aggregate are as follows:
2017
$
2016
$
2017
-
668,365
2018
907,270
391,540
2019
625,950
150,720
2020
592,650
150,720
2021
472,230
-
Thereafter
830,000
890,000
Total minimum lease payments
3,428,100
2,251,345
24. Cash and cash equivalents
2017
$
2016
$
Money market instruments and money at call (note 5)
1,191,362,902
1,479,332,070
Regional and foreign currencies
56,446,538
51,120,655
Due from local banks
21,000,000
-
Balances with other central banks (note 4)
11,856,639
4,926,288
Balances with local banks
1,838,469
3,187,985
Balances with foreign banks (note 4)
52,855
77,071
Total cash and cash equivalents
1,282,557,403
1,538,644,069
25. Net interest income
2017
$
2016
$
Interest income
Available-for-sale: foreign investment securities
37,373,890
31,565,253
Money market instruments and money at call
11,777,722
2,423,617
Loans and receivables: participating governments’ securities
2,842,041
3,727,472
Other interest income
4,261,282
4,348,872
56,254,935
42,065,214
Eastern Caribbean Central Bank
Notes to the Financial Statements
March 31, 2017
(expressed in Eastern Caribbean dollars)
90
23. Contingencies and commitments
...continued
Leasehold obligation
–
operating leases
...continued
Leasehold obligation
–
operating leases
All agency offices operate out of leased premises with lease terms ranging from 2 to 33 1/3 years.
Lease rentals payable on operating leases are expensed on a straight line basis over the term of the
leases.
Minimum lease payments subsequent to 2017 and in aggregate are as follows:
2017
$
2016
$
2017
-
668,365
2018
907,270
391,540
2019
625,950
150,720
2020
592,650
150,720
2021
472,230
-
Thereafter
830,000
890,000
Total minimum lease payments
3,428,100
2,251,345
24. Cash and cash equivalents
2017
$
2016
$
Money market instruments and money at call (note 5)
1,191,362,902
1,479,332,070
Regional and foreign currencies
56,446,538
51,120,655
Due fro local banks
21,000,000
-
Balances with other central banks (note 4)
11,856,639
4,926,288
Balances with local banks
1,838,469
3,187,985
Balances with foreign banks (note 4)
52,855
77,071
Total cash and cash equivalents
1,282,557,403
1,538,644,069
25. Net interest income
2017
$
2016
$
Interest income
Available-for-sale: foreign investment securities
37,373,890
31,565,253
Money market instruments and money at call
11,777,722
2,423,617
Loans and receivables: participating governments’ securities
2,842,041
3,727,472
Other interest income
4,261,282
4,348,872
56,254,935
42,065,214