ECCB 2025-2026 Annual Report

EASTERN CARIBBEAN CENTRAL BANK ANNUAL REPORT 2025 - 2026

Legislative Agenda countries. The feedback will be used to inform the development of the ideal legislative framework. Insurance and Pensions Legislation During the year, efforts continued to update and complete the draft legislative framework for the insurance and pensions sector in the ECCU. The legislative framework is intended to, inter alia: ; Reform the law relating to the insurance industry; ; Regulate insurance businesses and pension plans; ; Encourage the promotion of efficiency and competition in the insurance and pension industries; ; Provide for the protection of consumers; and ; Provide for a single financial space in the insurance sector. In 2025 the Bank, together with the legislative drafting consultant engaged to develop the framework, held intensive consultations with stakeholders in the member countries. The feedback provided during those consultations will inform the completion of the draft legislative framework for this sector. Development of the Legal and Regulatory Infrastructure to Support the Establishment of a Macro Prudential Risk Based Policy

This macroprudential framework is expected to include the enactment of financial stability legislation with appropriate mandate, scope and powers, establishment of a Regional Financial Stability Committee and a technical secretariat to support the analytical functions related to the financial stability mandate.

Work continues on drafting the appropriate legislative framework to codify this framework.

Harmonised Insolvency and Bankruptcy Legislation During the year, efforts to promote the development of a modern insolvency and bankruptcy framework in the ECCU continued. In this regard, an ECCU Insolvency Working Group (IWG) comprised of the regulators in the member countries was established to: ; Review and discuss existing insolvency legislation in the ECCU, specifically, the CARICOM draft Model Insolvency Bill, the Saint Lucia Insolvency Act and the Impact Justice Insolvency Bill. ; Develop recommendations on the optimal legislative framework for insolvency in the Eastern Caribbean region for consideration. The IWG has received presentations from the respective consultants who drafted the existing model Bills and have submitted an interim report to the Bank. The Working Group is expected to make specific policy recommendations on the adoption of an optimal insolvency framework for the ECCU.

Framework in the Eastern Caribbean Currency Union Inclusive of Financial Stability Legislation

The Bank finalised the policy proposal in respect of the framework for macroprudential regulation of the financial system of the ECCU.

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