Eastern Caribbean Central Bank
Notes to Consolidated Financial Statements
March 31, 2015
(expressed in Eastern Caribbean dollars)
82
22. Related party balances and transactions
…
continued
The year end balances arising from transacting with participating governments are as follows:
2015
$
2014
$
Receivables from participating governments
Loans and receivables: participating governments’ securities (note 9)
100,225,950
103,878,763
Loans and receivables: participating governments’ advances
(note 10)
67,490,727
81,510,157
Payables to participating governments
(note 16)
Participating governments’ call accounts
123,429,515
66,600,141
Participating governments’ fiscal reserve tranche II
67,979,568
67,979,568
Participating governments’ current accounts
-
46,100,000
Participating governments’ fiscal tranche I call accounts
7,313,938
12,313,939
Participating governments’ securities account
28,115,243
-
Participating governments’ operating accounts
33,603,044
23,569,747
Participating governments’ sinking fund call
accounts
5,039,385
492,306
Participating governments’ drug service accounts
2,546,758
2,474,725
Participating governments’ debt restructuring escrow accounts
167,332
133,382
Interest income earned on receivables during the year was $9,352,891 (2014: $9,114,671). The
receivables carry interest rates of 3.5% to 9% (2014: 3.5% to 9%) per annum.
Interest expense on payables during the year was $1,881 (2014: $5,569). The payables carry interest
rates of 0.01% to 0.07% (2014: 0.01% to 0.07%) per annum.
A number of transactions were entered into with related parties in the normal course of business. These
include loans and other transactions. The volume of related party transactions and outstanding balances
at the year-end are as follows:
2015
$
2014
$
Staff mortgage loans
Loans outstanding at beginning of year
759,596
873,072
Loans movement during the year
(286,628)
(113,476)
Loans outstanding at end of year
472,968
759,596
Term deposits
Bank of Nova Scotia, St. Kitts
654,481
694,058
CIBC FirstCaribbean International, St Kitts
370,270
380,579
1,024,751
1,074,637
Eastern Caribbea Central Bank
Notes to Consolidated Financial Statements
March 31, 2015
(expressed in Eastern Caribbean dollars)
82
22. Related party balances and transactions
…
continued
The year end balances arising from transacting with participating governments are as follows:
2015
$
2014
$
Receivables from participating governments
i
l :
ti i ti
t securiti
9)
100,225,950
103,878 763
Loans and receivables: participating governments’ advances
(note 10)
67,490,727
81,510,157
Payables to participating governments
(note 16)
ti i ti
call ccounts
123 42 15
6 600 141
ti i ti
fiscal reserve tranche II
67,979,568
67 979 568
ti i ti
curren c ounts
-
46 100 000
ti i ti
fis al ranche I call accounts
7 3 3 938
12,313,939
ti i ti
securi es
28 115 2 3
-
ti i ti
operating accounts
33 603 044
23,569 747
ti i ti
t sinking fund call
accounts
5 039 385
92 306
ti i ti
t rug s rvice accounts
2,546 758
2,474 725
Participating governments’ debt restructuring escrow accounts
167,332
133,382
Interest income earned on receivables during the year was $9,352,891 (2014: $9,114,671). The
receivables carry interest rates of 3.5% to 9% (2014: 3.5% to 9%) per annum.
Int rest expense on payables during the year was $1,881 (2014: $5,569). The payables carry interest
rates of 0.01% to 0.07% (2014: 0.01% to 0.07%) per annum.
A n mber of transactions were entered into with relat d parties in the normal course of bus ess. These
include loans and other transactions. The volume of related party transactions and outstanding balances
at the year-end are as follows:
2015
$
2014
$
Staff mortgage loans
s outstandi g at be inning of year
759,596
87 ,0 2
Loans movement during the year
(286,628)
(113,476)
Loans outstanding at end of year
472,968
759,596
Term dep sits
Bank of Nov Scotia, St. Kitts
654,481
694,058
CIBC FirstCaribbean International, St Kitts
370,270
380,579
1,024,751
1,074,637
ECCB
ANNUAL REPORT 2014/2015
123
EASTERN CARIBBEAN CENTRAL BANK
22.
elate rty l ces
t s ti s
continued
The year end balances arising from transacting with participating governments are as follows:
Interest income earned on receivables during the year was $9,352,891 (2014: $9,114,671). The receivables carry
interest rates of 3.5% to 9% (2014: 3.5% to 9%) per annum.
Interest expense on payables during the year was $1,881 (2014: $5,569). The payables carry interest rates of
0.01% to 0.07 (2014: 0.01% to 0.07 ) per annum.
nu ber of tra sactions wer nter d into with related parti s in the norm l c urse of b siness. The e include
loans and other transactions. The volume of related party transactions and outstanding balances t the year-e d are
as follows:
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(expressed in Eastern Caribbean dollars)
March 31, 2015
