ECCB 2015/2016 Annual Report

EASTERN CARIBBEAN CENTRAL BANK

financial management; and •  • Assisting with the improvement of cash management operations in keeping with international best practices. P ayments S ystems The Bankwill advance its payment system improvement initiatives in the following areas: •  • Strengthening the governance framework for the system through the implementation of policies and procedures with a view to further tighten internal controls and make them more robust; and •  • Strengthening the collaboration with the Eastern Caribbean Automated Clearing House Services Incorporated (ECACHSI) and other stakeholders to develop the second phase of the Automated Clearing House (ACH) to facilitate electronic payments. L egal S ervices The Bank intends to pursue the following initiatives in keeping with its vision for a strong and resilient financial system and for the development of the single financial and economic space: •  • Resolution of the CCB and NBA; •  • In collaboration with the International Finance Corporation (IFC), complete the finalisation of the Credit Reporting Bill and Regulations that will create a system for the fair reporting of consumer credit information within the single financial space; and •  • In collaboration with the IMF, complete the Eastern Caribbean Appraisal Institute Agreement andBill to facilitate the establishment of a professional institute for appraisers and the

harmonisation of standards and methodologies for the conduct of appraisals in the ECCU.

With the approval of the Regional Debt Coordinating Committee (RDCC), the Bank will continue to provide support to improve the efficiency of the RGSM. To this end the Bank,with the assistance of the Canadian-funded projects, will collaborate with the debt units in member states in the formulation and execution of investor relations programmes. This will involve specifically, the participation in road shows to promote the RGSM as well as the development of ECCU Public Sector Debt Website. These efforts will underpin the implementation of the Medium Term Debt Management Strategies (MTDS). MONEY AND CAPITAL MARKET DEVELOPMENT

THE BASIS OF POLICY

R esearch The Bank will:

•  • Conduct applied research on financial stability; fiscal and debt sustainability; and growth, competitiveness and employment; and •  • Disseminate selected research work through the Working Paper Series and the Economic and Financial Reviews published on the Bank’s website. S tatistics •  • The second round of the external sector statistics survey would be conducted in 2016. An analysis of the two-year results will be

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ECCB A nnual R eport 2015/2016