ECCB 2016/2017 Annual Report

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ECCB ANNUAL REPORT 2016/2017

Eastern Caribbean Central Bank Notes to the Financial Statements March 31, 2017 (expressed in Eastern Caribbean dollars)

EASTERN CARIBBEAN CENTRAL BANK NOTES TO THE FINANCIAL STATEMENTS

(expressed in Eastern Caribbean dollars)

March 31, 2017

9. Loans and receivables: Participating governments’ securities ...continued The movement in loans and receivables: participating governments’ securities may be summarized as follows: Debentures $ Treasury Bills $ Total $ Balance as of March 31, 2015 87,215,531 8,810,760 96,026,291 Payment of principal (9,565,310) - (9,565,310) Reduction in Treasury Bill holdings - (4,429,680) (4,429,680) Balance as of March 31, 2016 77,650,221 4,381,080 82,031,301 Payment of principal (5,999,182) - (5,999,182) Reduction in Treasury Bill holdings - (4,381,080) (4,381,080) Balance as of March 31, 2017 71,651,039 - 71,651,039

10. Loans and receivables: Participating governments’ advances

2017 $

2016 $

Operating accounts: - Government of Anguilla - Government of Grenada - Government of Saint Lucia

13,229,963

14,277,078 8,267,217 2,078,849

- Government of St. Vincent and the Grenadines

-

3,497,929 7,846,082 24,573,974

-

24,623,144

Temporary advances: - Government of St. Vincent and the Grenadines - Government of Antigua and Barbuda

25,252,606 5,622,328 30,874,934

15,839,312

-

15,839,312

Interest receivable

243,384

33,848

31,118,318 55,692,292

Total temporary advances

15,873,160 40,496,304 40,496,304

Total due from participating governments’ advances

Current 55,692,292 Amounts due from participating governments for temporary advances and operating account overdraft balances are unsecured and usually accrue interest at 6.50% per annum.