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SCHEDULE

AGREEMENT ESTABLISHING THE EASTERN CARIBBEAN CENTRAL BANK

Preamble

AN AGREEMENT made on the 5th day of July, 1983 between the Governments of Antigua and Barbuda, The Commonwealth of Dominica, Grenada, Montserrat, Saint Christopher and Nevis, Saint Lucia, and Saint Vincent and the Grenadines (hereinafter referred to as “the Participating Governments”) WHEREAS it is desired to maintain a common currency and to establish a Common Central Bank with powers to issue and manage that currency, to safeguard its international value, to promote monetary stability and a sound financial structure and to further the economic development of the territories of the Participating Governments.

It is hereby agreed as follows:

PART I - PRELIMINARY

1.

This Agreement may be cited as the Eastern Caribbean Central Bank Agreement, 1983

2.

In this Agreement, unless the context otherwise requires “Authority” means the Eastern Caribbean Currency Authority established under the Eastern Caribbean Currency Agreement 1965;

“appointed Directors” means the Directors other than the Governor and the Deputy Governor;

“Bank” means the Eastern Caribbean Central Bank established under Article 3 of this Agreement;

“bank” means any financial institution whose operations include the acceptance of deposits subject to transfer by the depositor by cheque or by other means of payment transfer;

“banking business” means -

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