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STATEMENT OF FINANCIAL POSITION
As at 31 March 2017, the Bank’s Total Assets stood at
$4,971.6 million, a decrease of $32.7 million (0.65 per
cent) when compared to the position in the previous
year.
The decrease in Total Assets, which was primarily
reflected in the Foreign Assets category, was due
to a contraction of $31.7 million (0.68 per cent)
in foreign reserves. That contraction was mainly
attributed to the net sale of foreign currency balances
to commercial banks and member governments.
Another contributing factor was the depreciation in
the market value of foreign securities held within the
ECCB’s foreign reserve portfolio. The effect of those
decreases was offset by the purchase of foreign and
regional currency notes from commercial banks and
the reinvestment of interest received on foreign assets.
Domestic Assets decreased by $1.0 million (0.29 per
cent). The decline was due to a decrease of $15.2
million (27.29 per cent) in Loans and Receivables –
Participating Governments’ Advances, as member
governments repaidshort-termloansduring theperiod.
Loans and Receivables – Participating Governments’
Securities declined by $10.6 million (12.61 per cent)
due to instalment payments by member governments
on debentures and the Bank’s reduction of its holdings
of member governments’ Treasury Bills during the
period. The decrease in the Domestic Assets category
was offset by an increase of $21.0 million in Due from
Local Banks as a result of the extension of credit to a
commercial bank under the Lombard facility.
Total Liabilities contracted by $12.1 million (0.25 per
cent) over the year. The most significant decreases
in this category were reported in Commercial Banks’
Reserve Balances, $73.7 million and Participating
Governments’ Call accounts, $67.7 million. The
decreases were offset by increases of $59.4 million in
Participating Governments’ Debt Restructuring Escrow
Account, $45.1 million in Currency in Circulation and
$22.6 million in Bankers’ Collateral Accounts.
45
ECCB ANNUAL REPORT 2016/2017
Chart V - Total Assets (EC$’000)