ECCB 2022-2023 Annual Report and Financial Statements

Eastern Caribbean Central Bank Annual Report 2022 - 2023

Participants of the ECCB/World Bank Principles for Financial Market Infrastructures Workshop held at ECCB Headquarters - 23 January 2023

ECCU Payment System Oversight and Cooperation The Bank continued to monitor and assist Financial Markets Infrastructures (FMIs) with observance of the Principles for Financial Market Infrastructures (PFMIs). The initial first-level review of the PFMI Self-Assessments for the designated FMIs, including the Real-time Gross Settlement (RTGS) system, the Eastern Caribbean Automated Clearing Hours (ECACH) and Caribbean Credit Card Corporation (4Cs), was completed. The monitoring of FMIs’ activities through the use of the Bank’s reporting framework is ongoing. In January 2023, the ECCB collaborated with The World Bank to facilitate a five-day, in-person workshop on the PFMIs, at the Bank’s headquarters. The workshop focused on strengthening the capacity within FMIs, the ECCB and the Eastern Caribbean Securities Regulatory Commission (ECSRC) on the PFMIs. Following the workshop, the Bank conducted its self-assessment against the responsibilities of central banks, market regulators and other relevant authorities for financial market infrastructures of the PFMIs, and opened dialogue with domestic and regional authorities in respect of the observance of the principles. The Eastern Caribbean Payments Council (ECPC) continued to serve as an advisory body to the ECCB on payment system related matters, providing a dedicated forum for the sharing of information, cooperation and consultation. Cognisant of the strategic importance of the implementation of the payment system vision and modernisation plan, the 2022 meetings of the ECPC were predominantly focused on consultation on the Payment System Strategy for the ECCU. View highlights from the workshop

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