ECCB 2022-2023 Annual Report and Financial Statements

Eastern Caribbean Central Bank Notes to the Financial Statements For the year ended 31 March 2023 (Expressed in Eastern Caribbean dollars)

3. Financial risk management (continued)

b) Credit risk (continued)

(ii) Credit quality analysis (continued)

Investment securities and money market instruments and money at call (continued)

Money market instruments and money at call

Rated (Moody’s and S&P) Commercial paper, certificate of deposits, term deposits and money at call

2023

2022

$

$

51,799,255 273,279,288 129,365,295 144,358,126 156,870,000 11,532,375

109,223,246 309,575,268 135,939,679 212,204,762 262,710,001

Aa1 Aa2 Aa3

A1

AA+

A+

9,062,227

767,204,339

1,038,715,183

Unrated

2023

2022

$

$

Term deposits

13,500,000

85,059,946

Total rated and unrated money market instruments And money at call

780,704,339

1,123,775,129

Participating governments advances Advances are based on Board approved credit allocation limits. Requests for advances by member governments are reviewed to ensure that the amounts are within the approved allocated limits. These approved limits are calculated and assigned to the governments annually. Due from local banks Advances are granted to commercial banks in accordance with Part VIII, Article 31(2) and Part IIa, Article 5B of the ECCB Agreement Act 1983. Under Part VIII, Article 31(2), the borrowing bank must pledge collateral with the Central Bank and can only borrow ninety per cent of the collateral amount pledged. As at 31 March 2023 and 2022, the Bank did not grant any advances to commercial banks; hence, there was no collateral pledged with the ECCB.

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