ECCB 2016/2017 Annual Report

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ECCB ANNUAL REPORT 2016/2017

STATEMENT OF FINANCIAL POSITION As at 31 March 2017, the Bank’s Total Assets stood at $4,971.6 million, a decrease of $32.7 million (0.65 per cent) when compared to the position in the previous year. The decrease in Total Assets, which was primarily reflected in the Foreign Assets category, was due to a contraction of $31.7 million (0.68 per cent) in foreign reserves. That contraction was mainly attributed to the net sale of foreign currency balances to commercial banks and member governments. Another contributing factor was the depreciation in the market value of foreign securities held within the ECCB’s foreign reserve portfolio. The effect of those decreases was offset by the purchase of foreign and regional currency notes from commercial banks and the reinvestment of interest received on foreign assets. Domestic Assets decreased by $1.0 million (0.29 per cent). The decline was due to a decrease of $15.2 million (27.29 per cent) in Loans and Receivables –

Participating Governments’ Advances, as member governments repaidshort-termloansduring theperiod. Loans and Receivables – Participating Governments’ Securities declined by $10.6 million (12.61 per cent) due to instalment payments by member governments on debentures and the Bank’s reduction of its holdings of member governments’ Treasury Bills during the period. The decrease in the Domestic Assets category was offset by an increase of $21.0 million in Due from Local Banks as a result of the extension of credit to a commercial bank under the Lombard facility. Total Liabilities contracted by $12.1 million (0.25 per cent) over the year. The most significant decreases in this category were reported in Commercial Banks’ Reserve Balances, $73.7 million and Participating Governments’ Call accounts, $67.7 million. The decreases were offset by increases of $59.4 million in Participating Governments’ Debt Restructuring Escrow Account, $45.1 million in Currency in Circulation and $22.6 million in Bankers’ Collateral Accounts.

Chart V - Total Assets (EC$’000)