ECCB 2015/2016 Annual Report

Eastern Caribbean Central Bank Notes to Financial Statements March 31, 2016 (expressed in Eastern Caribbean dollars) E , a lla EASTERN CARIBBEAN CENTRAL BANK (expressed in Eastern Caribbean dollars) e i t i

NOTES TO FINANCIAL STATEMENTS

March 31, 2016

12. Financial assets held for trading The Bank’s derivatives relate to currency forwards. Currency forwards represent commitments to purchase foreign currency and are initially recognised at fair value on the date that a derivative contract is entered into and are subsequently remeasured at their fair value. The following is an analysis of the currency forwards held with positive fair value as at March 31, 2016: . i i l l f i i ti l t t f r r s. rr f r r r r t itm ts to i ency a i iti ll r i t f ir l t t t t ri ti tr t i t i to tl r r t t ir f ir l . l i of the rr f r r h ld with iti fair l s t r , : i ci l ss ts l tr he ank’s derivatives relate to curre c for ar u ency o ards represent co mit ents to purchase foreign curr and re initially ecognised at fair value on the date that a derivative contract is entered int and are subsequently remeasured at their fair value. The following is an analysis of the currency forwards held with positive fair value as at March 31, 2016: f ll i i

12.

Notional value of contracts ti l l f t t 14,019,240 38,500

Notional value of contracts EC$ equivalent ti l l f t t i l t

Fair value of contracts $ i l f t t

Currency sold /purchased l

Value date of contracts l t f t t

/

103,950 37,851,949 ,

169

GBP USD

April 25, 2016 April 4, 2016 ril , ril ,

, ,

245,819

,

,

,

,

37,955,899

245,988

,

,

,

Current

245,988

t

,

The following is an analysis of the currency forwards held with positive fair value as at March 31, 2015: f ll wi i n n ly i of the curr f r r l it p itiv f ir l t r , : The follo ing is a a al sis f t rr f r ards held ith positive fair value as at March 31, 2015:

Notional value of contracts 22,378,739 20,798,900 ti l l f t t , ,

Notional value of contracts EC$ equivalent ti l l f t t i l t

Fair value of contracts $ i l f t t

Currency sold /purchased l

Value date of contracts l t f t t April 21 & 23, 2015 April 05,18 & 29, 2015 ril , ril , ,

/

47,205,128 45,214,276 , ,

1,362,331 1,265,219 , ,

AUD CAD EUR GBP CHF USD

,

,

,

,

,

,

April 21 & 29, May 1, June 17 & ril , ,

18,165,191 54,557,557

1,861,257

22, 2015

,

,

,

,

,

,

,

414,700 22,400 11,703 , ,

1,660,865 62,267 31,597 , , ,

6,453 ,

April 29, 2015 April 29, 2015 April 21, 2015 ril , ril , ril ,

95 296

,

,

148,731,690

4,495,651

,

,

,

,

Current

4,495,651

t

,

,

66

102

ECCB A nnual R eport 2015/2016