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 Eastern Caribbea Central Bank Notes to Consolidated Financial Statements March 31, 2015 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (expressed in Eastern Caribbean dollars) March 31, 2015 22. Related party balances and transactions … continued The year end balances arising from transacting with participating governments are as follows: 2015 $ 22. Related party balances and transactions … continued The year end balances arising from transacting with participating governments are as follows: 2015 $ elate rty l ces t s ti s continued The year end balances arising from transacting with participating governments are as follows: 2014 $ 2014 $ 22. (expressed in Eastern Caribbean dollars) (expressed in Eastern Caribbean dollars)

Receivables from participating governments Loans and receivables: participating governments’ securities (note 9) Loans and receivables: participating governments’ advances (note 10) Receivables from participating governments i l : ti i ti t securiti 9) Loans and receivables: participating governments’ advances (note 10) Payables to participating governments (note 16) Participating governments’ call accounts Participating governments’ fiscal reserve tranche II Participating governments’ current accounts Participating governments’ fiscal tranche I call accounts Participating governments’ securities account Participating governments’ operating accounts Participating governments’ sinking fund call accounts Participating governments’ drug service accounts Participating governments’ debt restructuring escrow accounts Payables to participating governments (note 16) ti i ti call ccounts ti i ti fiscal reserve tranche II ti i ti curren c ounts ti i ti fis al ranche I call accounts ti i ti securi es ti i ti operating accounts ti i ti t sinking fund call accounts ti i ti t rug s rvice accounts Participating governments’ debt restructuring escrow accounts

100,225,950 67,490,727 100,225,950 67,490,727

103,878,763 81,510,157 103,878 763 81,510,157

123,429,515 67,979,568 123 42 15 67,979,568 - 7,313,938 28,115,243 33,603,044 5,039,385 2,546,758 167,332 - 7 3 3 938 28 115 2 3 33 603 044 5 039 385 2,546 758 167,332

66,600,141 67,979,568 46,100,000 12,313,939 6 600 141 67 979 568 46 100 000 12,313,939 - 23,569,747 492,306 2,474,725 - 23,569 747 92 306 2,474 725

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 1,074,637 133,382 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 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:

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ECCB ANNUAL REPORT 2014/2015

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