ECCB 2014-2015 Annual Report and Statement of Accounts

EASTERN CARIBBEAN CENTRAL BANK

Eastern Caribbean Central Bank Notes to Consolidated Financial Statements March 31, 2015 1, 0

(expressed in Eastern Caribbean dollars) NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (expressed in Eastern Caribbean dollars) March 31, 2015

12. Financial assets held for trading Financial assets held for trading .

12.

The Bank ’s derivatives relate to currency forwards. Currency forwards represent commitments to purchase foreign currency and are initially recognised at fair value on the date that a derivative contract is entered into and are subsequently remeasured at their fair value. The following is an analysis of the currency forwards held with positive fair value as at March 31, 2015: . o and are subsequ asured at v ue. The Bank’s derivatives relate to currency forwards. Currency forwards represent commitments to purchase foreign currency and are initially recognised at fair value on the date that a derivative contract is entered into and are subsequently remeasured at their fair value. The following is an analysis of the currency forwards held with positive fair value as at March 31, 2015: ,

Notional value of contracts 22,378,739 20,798,900 , ,

Notional value of contracts EC$ equivalent

Fair value of contracts $

Currency sold /purchased

Value date of contracts April 21 & 23, 2015 April 05,18 & 29, 2015 , , ,

47,205,128 45,214,276 , ,

1,362,331 1,265,219 , ,

AUD CAD EUR GBP CHF USD

,

,

,

,

,

,

April 21 & 29, May 1, June 17 & , ,

18,165,191 54,557,557 , , , ,

1,861,257

22, 2015

,

,

,

414,700 22,400 11,703 , ,

1,660,865 62,267 31,597 , , ,

6,453 ,

April 29, 2015 April 29, 2015 April 21, 2015 , , ,

95

296

,

,

148,731,690

4,495,651

,

,

,

,

Current

4,495,651

,

,

The following is an analysis of the currency forwards held with positive fair value as at March 31, 2014: The following is an analysis of the currency forwards held with positive fair value as at March 31, 2014:

,

Notional value of contracts 20,162,495

Notional value of contracts EC$ equivalent

Fair value of contracts $

Currency sold /purchased

Value date of contracts

54,438,735 April 01& 22, May 01 & 06, 2014

1,388,227

USD

,

,

,

,

,

,

,

,

54,438,735

1,388,227

,

,

,

,

Current

1,388,227

,

,

107

ECCB ANNUAL REPORT 2014/2015

66