ECCB 2023-2024 Annual Report

Eastern Caribbean Central Bank Notes to the Financial Statements For the year ended 31 March 2024 (Expressed in Eastern Caribbean dollars)

6. Money market instruments and money at call (continued) Money market instruments with original maturities after 90 days:

2023 $

2024 $

Commercial paper

-

93,865,543

-

93,865,543

1,656,189

Interest receivable

1,430,217

Total money market instruments and money at call

729,459,212

1,125,205,346

(8,143)

Less: allowance for impairment

(12,437)

Total money market instruments and money at call, net 1,125,192,909 Money market instruments include commercial paper purchased at discounts, term deposits and certificate of deposits with interest rates ranging from 4.19% to 5.67% (2023: 0.19% to 5.17%) during the year. Money at call includes cash balances available to the Bank’s money managers and funds held at the United States Federal Reserve Bank for the day-to-day operations of the Bank. These balances earned interest at 0.0% to 5.30% (2023: 0.0% to 4.80%) during the year. 729,451,069

7. Derivative financial instruments Foreign currency forward contracts

Currency forwards represent commitments to purchase foreign currency. These contracts are initially recognised at fair value on the date that a derivative contract is established and are subsequently remeasured at fair value. The following is an analysis of the currency forwards held with positive fair value as at 31 March 2024:

Notional value of contracts 259,200 6,000 2,437,700 808,930

Notional value of contracts EC$ equivalent

Fair value of contracts $

Currency sold /purchased

Value date of contracts

231 307

CAD CHF EUR GBP

516,716 18,282 7,140,931 2,771,836 10,447,765

8 April 2024 8 April 2024 8 April 2024 8 April 2024

46,079 13,991 60,608

The Bank held no foreign currency forwards with positive fair value as of 31 March 2023.

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