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)

17. Demand and deposit liabilities – domestic (continued)

During the year, the following balances earned interest at 0.40% to 2.90% (2023: 0.0% to 1.40%): fiscal tranche I, bankers’ call accounts and fixed deposits, participating governments’ and statutory bodies’ fixed deposits and ECHMB’s operating accounts. Participating governments’ fiscal reserve tranche II The Monetary Council has approved the establishment of a fiscal reserve fund. In accordance with the Bank’s profit distribution policy, forty per cent (40%) of the annual share of distributable profits to member governments’ is transferred to the participating governments’ fiscal tranche II call account. There was no allocation from profit to the fund in the current financial year (2023: nil). 2024 $ 2023 $ Balance at beginning of year 55,995,679 56,495,679 COVID-19 grant - (500,000) Balance at end of year 55,995,679 55,995,679 Participating governments’ fiscal tranche I call accounts These accounts earn interest at the prevailing call rate offered by the Bank and are readily accessible by the respective governments. 2024 $ 2023 $ Balance at beginning of year 6,355,938 12,410,745 Transfers 800,000 900,000 Interest on account 89,216 75,193 Withdrawals (900,000) (7,030,000) Balance at end of year 6,345,154 6,355,938

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