ECCB 2023-2024 Annual Report

EASTERN CARIBBEAN CENTRAL BANK ANNUAL REPORT 2023 - 2024

The ECCB also continued to collaborate with the Nationally Determined Condition (NDC) Partnership to host capacity building and institutional strengthening with LFIs. Regulators from the ECCU non-bank financial sector at the roundtable discussion on climate-related risks and risk-based supervision framework - ECCB Headquarters, Saint Christopher and Nevis - 30 January 2024 An initial draft of the climate risk assessment report from the collection and analysis of bank-level data from LFIs, was received in October 2023. The report included an exposure/historical impact and scenario analysis, and a stress test assessing the hurricane impact on the portfolio of banks during 2017. The results pointed to a limited impact on the portfolio of banks in countries that were affected by hurricanes Irma and Maria. The next phase involves: (i) a series of capacity building sessions for ECCB staff and the banking sector, for which a draft training programme was developed in February 2024; and (ii) the development of reporting templates and climate risk assessment model for the banking sector.

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