60 / 174
Total Equity decreased by $20.6 million (8.5 per cent),
principally due to a decline of $39.5 million (179.06
per cent) in the market value of foreign investment
securities as theUS Treasurymarket weakened over the
financial year. The effect of the decline was moderated
by an increase of $12.0 million (83.24 per cent) in the
Pension Fund Reserve due to the recording of actuarial
gains on the Bank’s Defined Benefit Pension Fund in
accordance with International Financial Reporting
Standards. Additionally, the General Reserve rose by
$6.2 million (5.95 per cent) due to the allocation from
net profit in accordance with the ECCB Agreement Act
1983 – Article 6(3).
46
ECCB ANNUAL REPORT 2016/2017
Chart VI - Total Liabilities and Equity (EC$’000)