ECCB
ANNUAL REPORT 2014/2015
101
EASTERN CARIBBEAN CENTRAL BANK
7.
Financial instruments
...continued
b) Credit quality of financial assets
The credit quality of financial assets that are neither past due nor impaired are assessed using
external credit ratings.
Available-for-sale financial assets
Foreign investment securities held by the Bank are debt of governments with a country rating
of AA or better (by Moody’s or equivalent), or debt that carries the unconditional guarantee of
such governments, and included in the list of acceptable sovereign risks and debt of international
institutions that are specifically listed in the Bank’s Investment Guidelines. These securities are of
superior credit quality and protection of interest and principal is considered high.
Loans and receivables
Cash at banks and money market instruments are held at approved financial institutions which have
a minimum bank deposit rating of A1/P-1 Moody’s or as measured by another international rating
agency. These financial institutions must be incorporated in one of the approved countries listed
in the Bank’s Investment Guidelines. Other loans and receivables included in financial assets are
not rated.
The Bank does not have financial assets that are past due or impaired.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(expressed in Eastern Caribbean dollars)
March 31, 2015
