ECCB 2025-2026 Annual Report

EASTERN CARIBBEAN CENTRAL BANK ANNUAL REPORT 2025 - 2026

Payments Modernisation and Financial Inclusion

Expanding Access Through Payment System Innovation ECACH Credit Union Pilot Programme The Bank assessed applications from credit unions seeking participation in the ECACH Credit Union Pilot Programme, which is expected to commence in the third quarter of 2026 and will provide participants with direct access to the ECACH. The pilot comprises four credit unions and will allow them to send and receive electronic funds transfers. This will represent a significant milestone in broadening credit unions’ access to the regional payments system and promote financial inclusion, particularly through expanding the availability of electronic payment services to communities served by credit unions. The initiative is also expected to improve efficiency and convenience in the delivery of retail payment services and result in greater participation, competition, and innovation in the payment system. Payment System Supply Side Survey The Bank completed the 2025 Payment System Supply Side Survey to assess the operational readiness, infrastructure, access, safety, and efficiency of market participants across the ECCU. Administered during quarter four of 2024, the survey provided a data-driven baseline on the supply side conditions shaping the region’s payments ecosystem and highlighted both foundational strengths and material gaps. The findings revealed that while many institutions can support higher transaction growth, readiness for newer payment rails remains uneven, with persistent constraints relating to scalability, fragmented cybersecurity practices, limited disaster recovery and business continuity preparedness, and operational inefficiencies. Findings derived from the survey are expected to inform the Bank’s policy on payments system modernisation.

month period. The objectives of the consultancy were: the conduct of a practical workshop for staff training; the development of an operational toolkit and understudy of international best practices related to payment system oversight; training in technical know-how for expertise in monitoring the payments landscape; and the analysis of payment systems infrastructures. The Bank completed full-scope examinations of two of the three designated Financial Market Infrastructures (FMIs): (1) Caribbean Credit Card Corporation Limited in December 2025, and (2) the Eastern Caribbean Automated Clearing House in February 2026. Those examinations assessed the institutions’ observance of the Principles for Financial Market Infrastructures, and thereafter the Bank made recommendations aimed at strengthening governance, operational resilience, risk management, and overall compliance with international standards. This work forms part of the Bank’s broader programme to enhance the safety, soundness and efficiency of ECCU payments infrastructures. Examination of the Real-Time Gross Settlement system—the third FMI—is expected to be completed in 2026. In anticipation of the comprehensive enactment of the Payment System and Services Act, the Bank continued the development of a Licensing Manual and data collection templates. These tools will enhance and streamline the regulatory process, provide clear guidance for compliance, and facilitate efficient data collection for monitoring purposes. Utilisation of these tools will signal a pivotal step in the Bank’s alignment with international best practices.

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