72 / 174
58
ECCB ANNUAL REPORT 2016/2017
•
•
Review the existing benchmark used for the
management of the foreign reserves in keeping
with the Strategic Asset Allocation (SAA)
process;
•
•
Revise existing Investment Guidelines to
be used in the management of the foreign
reserves; and
•
•
Develop an external portfolio manager
framework with the objective of enhancing
the selection and supervision of the ECCB’s
portfolio managers.
Currency Management
The Bank will continue to focus on maintaining the
integrity of the EC dollar. The following are the planned
initiatives to support this work:
•
•
Train and certify law enforcement officers
to differentiate genuine and counterfeit EC
banknotes;
•
•
Training in ‘Know Your Money’ for cash handlers
in the ECCB member countries to improve
business relations;
•
•
Continue to review the security features of the
EC banknotes so as to preserve the integrity of
the currency;
•
•
Examine the feasibility of isuuing polymer
currency notes; and
•
•
Incorporate
leadership
training
and
development for staff to align with the Bank’s
strategic priorities.
FINANCIAL SECTOR STABILITY
Bank Supervision
The following will be pursued:
•
•
Facilitating the modernisation of the financial
system through an enhanced legislative
and supervisory framework in keeping with
international standards and best practices;
•
•
Engaging in policy development towards
ensuring systemic stability and the efficacy
of the enhanced regulatory and supervisory
framework;
•
•
Ensuring that financial stability is maintained
through the revision and development of key
standards and procedures which would serve
as a tool to guide licenced financial institutions;
•
•
Expediting efforts towards the amalgamation
of the banking sector, as per Point 7 of the
ECCU Eight Point Stabilisation and Growth
Programme;
•
•
Executing the comprehensive resolution
strategy and technical assistance programme
for strengthening the resilience of the ECCU
financial system;
•
•
Implementating an effective resolution
mechanism comprising financial safety nets,
including explicit deposit insurance and the full
operationalisation of the ECAMC; and
•
•
Enhancing the monitoring of threats to financial
systemstability at themacro andmicro level and
implementation of risk-mitigating measures.
Commercial Banks’ Prudential Returns
The following are scheduled:
•
•
Completing and circulating to all banks in the
ECCU, the revised prudential returns, manual
of instructions, and the financial institutions
registry;
•
•
Organisating of a workshop with commercial
banks to discuss additional changes to
prudential returns in mid-2017; and
•
•
Liaising with banks and their software providers
to explore and adopt ways which will minimise
manual data entry of revised returns.