ECCB 2017-2018 Annual Report and Statement of Accounts

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ECCB ANNUAL REPORT 2017/2018

(expressed in Eastern Caribbean dollars) Eastern Caribbean Central Bank Notes to the Financial Statements March 31, 2018 (expressed in Eastern Caribbean dollars)

EASTERN CARIBBEAN CENTRAL BANK NOTES TO THE FINANCIAL STATEMENTS

March 31, 2018

24. Cash and cash equivalents

2018 $

2017 $

1,093,678,052 68,773,676

1,191,362,902 56,446,538 21,000,000 11,856,639 1,838,469

Money market instruments and money at call (note 5) Regional and foreign currencies Due from local banks Balances with other central banks (note 4)

-

6,223,088 3,221,502 64,548

Balances with local banks Balances with foreign banks (note 4)

52,855

1,171,960,866

Total cash and cash equivalents

1,282,557,403

25. Net interest income

2018 $

2017 $

Interest income Available-for-sale: foreign investment securities Money market instruments and money at call Loans and receivables: participating governments’ securities

45,584,550 20,372,986 3,461,332 3,795,436 73,214,304

37,373,890 11,777,722 2,842,041 4,261,282

Other interest income

56,254,935

Interest expense Demand liabilities: domestic

2,538,217

581,671

Net interest income

70,676,087

55,673,264

26. Other income

2018 $

2017 $

4,479,000 675,962 515,440 300,000 78,898 36,548

7,918,000 637,677 439,918 300,000 108,273

Income from banking licence fees and penalties Pension fund administrative and management fees

Miscellaneous income Rental income Gain on futures

-

Gain on disposal of fixed assets Income from reserve requirement

-

2,890

Total other income

6,085,848

9,406,758

Rental income results from rental of office space to affiliate institutions ECHMB and ECSE, which are covered by leasehold rental contracts. The Bank also rents office space to Eastern Caribbean Institute of Banking (ECIB). The amounts due from ECIB are outstanding as at 31 March 2018.

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