Eastern Caribbean Central Bank

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Eastern Caribbean Central Bank

The central bank of the Organisation of Eastern Caribbean states, which consists of Anguilla, Antigua and Barbuda, Dominica, Grenada, Montserrat, Saint Kitts and Nevis, Saint Lucia, and Saint Vincent and the Grenadines. It is responsible for issuing and stabilizing the East Caribbean dollar.
References in periodicals archive ?
The Antigua and Barbuda Office of National Drug and Money Laundering Control Policy (ONDCP) and the Eastern Caribbean Central Bank (ECCB) are finalising an agreement to partner on anti-money laundering measures.
Preliminary results from the rapid damage and loss assessment jointly conducted with the World Bank, the UN, the Caribbean Development Bank, the Eastern Caribbean Central Bank, and the European Union, estimate that Hurricane Maria brought damage and losses of over 200 percent of annual GDP, equivalent to approximately US$ 1.
The Eastern Caribbean Central Bank licenses and supervises domestic commercial banks.
The Eastern Caribbean Central Bank sounded an alert to be on guard for circulation of counterfeit EC$100 notes within the Eastern Caribbean region, reports Caribbean360.
The Eastern Caribbean Central Bank (ECCB) issues the EC$, manages monetary policy, and regulates and supervises commercial banking activities in its member countries.
Antigua's government, which gave Stanford a knighthood in 2006, and the Eastern Caribbean Central Bank announced the takeovers on Friday, after a rush by depositors this week to withdraw their funds from Stanford banking affiliates.
Governor Dwight Venner of the Eastern Caribbean Central Bank said: "There has been an unusual and substantial withdrawal of funds by depositors from the bank precipitated by recently published statements regarding the chairman of the board of directors of the bank, which has the potential to create severe liquidity problems.
The website cited the Eastern Caribbean Central Bank (ECCB) as the source for its information.
Under the Eastern Caribbean Central Bank charter, money in circulation must be backed by a minimum 60 percent of foreign reserves and that sum now stands at 90 percent.
Two key components are the Eastern Caribbean Central Bank, which issues the Eastern Caribbean Dollar and supervises both domestic and offshore banks in the region, and the Eastern Caribbean Securities Exchange, which opened in 2002.
The Eastern Caribbean Central Bank said that during the evacuation nearly a million Eastern Caribbean dollars, worth about pounds 188,000, had gone missing after being left in a reinforced concrete bank vault.
This small tropical island in the heart of the Caribbean is the home of the Eastern Caribbean Central Bank and the Eastern Caribbean Stock Exchange, which are two important pillars of the Regional Financial Sector.