ECCB 2014-2015 Annual Report and Statement of Accounts

EASTERN CARIBBEAN CENTRAL BANK

L egal S ervices For the year ahead, the Bank intends to continue to: •  • Pursue the comprehensive legislative agenda for strengthening the resilience of the financial sector; and •  • Provide legal support in the management and resolution of ABI Bank Ltd, NBA, and CCB.

•  • Providing the necessary liquidity support to the financial system; •  • Focusing on the further development of the Automated Clearing House; •  • Exploring ways in which it can enhance its role as Fiscal Agent to member governments, particularly as it relates to the RGSM; •  • Collaborating with member governments to develop a cohesive action plan for public sector financial management; and •  • Facilitate member governments’ enhancements of their cash management practices. P ayments S ystems For the upcoming year the Bank will continue its payment system improvement initiatives in the following areas: •  • Strengthening the governance framework for the payment system through the implementation of regulations, procedures and policies for the payment system in general with a view to further tighten its internal controls, thus making them more robust; •  • Collaborate with the Eastern Caribbean Automated Clearing House Services Incorporated (ECACHSI) and other stakeholders to develop the second phase of the Automated Clearing House (ACH) which will facilitate electronic payments; and •  • Begin work on a third phase of the ECACH implementation which will facilitate the clearing and settlement of local USD cheques.

MONEY AND CAPITAL MARKET DEVELOPMENT

During the financial year 2015/2016 the following will be undertaken: •  • Collaborating with development partners to expand the investor base and strengthen investor relations as part of the process of further strengthening the market for longer dated securities.

THE BASIS OF POLICY

R esearch The Bank will continue to fulfil its policy objectives during the upcoming financial year by: •  • Conducting applied research on financial sector stability and resolution, fiscal and debt sustainability, growth and development, and monetary policy in a quasi-currency board arrangement; •  • Disseminating selected research work through the Working Paper Series published on the Bank’s website;

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ECCB ANNUAL REPORT 2014/2015