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

19. Financial liabilities held for trading The following is an analysis of the currency forwards held with negative fair value as of March 31, 2017: Currency sold/ purchased Notional value of contracts Notional value of contracts EC$ equivalent Value date of contracts Fair value of contracts $ CAD 532,300 1,070,474 April 17, 2017 6,496 CHF 2,000 5,395 April 17, 2017 6 EUR 17,366,100 49,536,561 April 17, May 11 & June 6 2017 660,541 GBP 812,700 2,706,183 April 17, 2017 32,559 USD 65,627 177,192 April 3, 2017 1,801 53,495,805 701,403 Current 701,403 The following is an analysis of the currency forwards held with negative fair value as of March 31, 2016: Currency sold/ purchased Notional value of contracts Notional value of contracts EC$ equivalent Value date of contracts Fair value of contracts $ AUD 15,711,300 42,420,510 April 12, 2016 2,596,374 CAD 448,300 1,210,410 April 25, 2016 18,165 EUR 12,395,068 33,466,684 April 18 & 25, June 1, 2016 1,107,385 GBP 408,000 1,101,600 April 25, 2016 44,921 JPY 1,587,407,000 35,668,594 April 4, 2016 2,429,174 113,867,798 6,196,019 Current 6,196,019