Eastern Caribbean Central Bank
Notes to Consolidated Financial Statements
March 31, 2015
(expressed in Eastern Caribbean dollars)
6. Term deposits
2015
$
2014
$
Fixed Deposits:
- Bank of Nova Scotia, St. Kitts
7,108,958
7,441,649
- CIBC FirstCaribbean International Bank, St. Kitts
3,777,959
3,948,292
10,886,917
11,389,941
Interest receivable
135,735
143,430
Total term deposits
11,022,652
11,533,371
Current
11,022,652
11,533,371
The deposits held with Bank of Nova Scotia, St. Kitts (BNS) and CIBC FirstCaribbean International
Bank
–
St. Kitts (CIBC/
FCIB) are not available for use in the Bank’s day
-to-day operations. These
balances are pledged as liquidity support for loans and advances issued by BNS and CIBC/FCIB to the
Bank’s employees, at rates that are relatively low in comparison to the no
rmal market rates in the
ECCU. These term deposits earned interest at rates of 2.5% (2014: 2.5%) per annum during the year.
EASTERN CARIBBEAN CENTRAL BANK
ECCB
ANNUAL REPORT 2014/2015
98
6.
er deposits
The deposits held with Bank of Nova Scotia, St. Kitts (BNS) and CIBC FirstCaribbean
International Bank – St. Kitts (CIBC/FCIB) are not available for use in the Bank’s day-to-day
operations. These balances are pledged as liquidity support for loans and advances issued by
BNS and CIBC/FCIB to the Bank’s employees, at rates that are relatively low in comparison
to the normal market rates in the ECCU. These term deposits earned interest at rates of 2.5%
(2014: 2.5%) per annum during the year.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(express d in Eastern Caribbean dollars)
March 31, 2015
