ECCB 2025-2026 Annual Report

EASTERN CARIBBEAN CENTRAL BANK ANNUAL REPORT 2025 - 2026

Financial Stability

Work commenced on two surveys to facilitate the work of the OFC. The first took the form of a consumer protection questionnaire for LFIs. This constituted a pilot survey to help establish a baseline for LFIs’ awareness and understanding of financial consumer protection. It covered the tenets of financial consumer protection namely: access and inclusion; financial literacy and awareness; competition; equitable and fair treatment of consumers; disclosure and transparency; quality financial products; responsible business conduct and culture; protection of consumer assets; protection of consumer data and privacy; and complaints handling and redress. Eastern Caribbean Financial Standards Board Progress continued towards establishment of the Eastern Caribbean Financial Standards Board (ECFSB). The ECFSB will be established as an independent legal body, governed by a Board of Directors with a direct reporting line to the Monetary Council. Its main function will be to create regulatory standards for the non-bank financial sector. This will assist in addressing any weaknesses and unevenness in the financial system, reducing the View ECCB Connects Season 30, Episode 2 featuring the Office of Financial Conduct

likely occurrence of regulatory arbitrage thereby promoting overall financial stability.

During 2025-2026, sensitisation meetings on the ECFSB policy paper were held with stakeholders in all ECCB member countries. These stakeholders included government ministries, national regulators, industry representatives, chambers of industry and commerce, and civil society organisations. Over 23 to 27 March 2026, consultation meetings were held in Antigua and Barbuda, to discuss the draft ECFSB agreement with regulators for the non-bank financial sector of ECCB member countries. Once established, the ECFSB will commence its work with a focus on development standards for regulation of the insurance industry. In view of this, the Bank was engaged in researching and drafting of a modern Insurance and Post-employment Benefits Bill. The intention is for passage of a harmonised Insurance and Post-employment Benefits Bill in all member countries following consultation and finalisation. The next steps include finalisation, consultation, and passage of the ECFSB Agreement in financial year 2027/2028 and operationalisation of the ECFSB in financial year 2028/2029.

ECCU Stakeholders' Consultations on the Office of Financial Conduct

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