ECCB 2022-2023 Annual Report and Financial Statements

Eastern Caribbean Central Bank Annual Report 2022 - 2023

Enhancing Capacity in the ECCU To support policymakers in building capacity in the area of licensing and supervision of E-Money and virtual assets, the Bank in collaboration with the UN Capital Development Fund (UNCDF) under the Caribbean Digital Transformation Project (CARDTP), secured a number of training and certification courses aimed at enhancing capacity in respect of virtual asset business. The courses are being provided at no cost to participants. The Bank, through the CARDTP and UNCDF, has also secured technical assistance towards the development of a supervisory framework for virtual asset business in the ECCU. This is being coordinated through a technical working group of the Regulatory Oversight Committee. Amendments to Payment System (Eastern Caribbean Automated Clearing House System) Rules, 2021 The Amendments to Payment System (Eastern Caribbean Automated Clearing House System) Rules, 2021 seek to broaden the Central Bank’s power in relation to the classes of financial institutions it may admit as direct participants in the ECACH, thereby opening access to the ECACH and facilitating the participation of other financial institutions such as credit unions. The rules have been published in six member countries. Registration of DXCD Trademarks In preparation for the full implementation of the Bank’s digital cash project, the Bank made significant progress in the registration and protection of the DXCD trademarks in all the ECCU member countries. To date, the marks have been registered in seven member countries.

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