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ECCB ANNUAL REPORT 2016/2017
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•
Work with member countries to develop
a Model Insolvency Law (MIL) that can be
adopted in all ECCU jurisdictions. The MIL will
also assess the suitability of a Model Secured
Transaction Law for the ECCU, and facilitate
the implementation of a regional secured
transactions initiative if deemed appropriate;
and
•
•
Undertake further research and analysis
on the concept of a Regional Development
Financial Institution to support growth and
transformation of the ECCU’s private sector
within the context of a single financial and
economic space.
Establishment of a Single Financial Space
•
•
In collaboration with the OECS, the Bank will
finalise an action plan for the implementation
of the single financial space across the currency
union over an established timeframe.
Deposit Insurance
•
•
The Bank, in collaboration with the technical
working group, will prepare a policy paper on
the establishment of a Deposit Insurance Fund
for the ECCU Financial System and coordinate
the drafting of deposit insurance legislation
for the ECCU, based on the Monetary Council’s
policy selection and approval.
ECCU Credit Bureau
In collaboration with the ECCB’s technical working
group, the Bank will accelerate the establishment
and operationalisation of an ECCU Credit Bureau with
particular attention on the following:
•
•
Follow up with member territories on the
passage of the Harmonised Credit Reporting
Bill and Regulations;
•
•
Finalise the Request for Proposal (RFP) process;
•
•
Finalise and implement the process for selection
of a credit bureau operator;
•
•
Coordinate the requests for training for the
credit bureau regulator; and
•
•
Assist with the conduct of industry and public
education.
Single Insurance and Pensions Market Project and
Eastern Caribbean Financial Services Commission
The ECCB will continue to support the Single Insurance
and Pensions Market Project (SIPMP), and the
establishment of the Eastern Caribbean Financial
Services Commission (ECFSC) in line with Goal Three
of the ECCB Strategic Plan, to enhance the non-bank
financial sector risk management. During the financial
year, the following initiatives will be pursued:
•
•
Finalisation of the Commission Agreement;
•
•
Finalisation
of
Host
Agreement
and
administrative
arrangements
for
the
establishment, and operationalisation of the
ECFSC Headquarters; and
•
•
Finalisation and passage of the Insurance and
Pensions Act and Commission Agreement Act.
FISCAL AND DEBT SUSTAINABILITY
Regional Government Securities Market (RGSM)
•
•
In order to increase the participation of
investors on the RGSM, the Bank will assist
member governments to develop formal
investor relations programmes during the
financial year. Efforts will also focus on
disseminating information on fiscal and debt
indicators through the redevelopment of
national websites; and
•
•
As part of the development of the RGSM,
market intelligence surveys will be undertaken