Eastern Caribbean Central Bank

(redirected from The Eastern Caribbean Central Bank)
Also found in: Wikipedia.

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 Fund and World Bank will also continue to collaborate with the Eastern Caribbean Central Bank to ensure the stability of the financial system.
The Eastern Caribbean Central Bank (ECCB) supervises Antigua and Barbuda's domestic banking sector, along with the domestic sectors of seven other Caribbean jurisdictions.
The Eastern Caribbean Central Bank sounded an alert to be on guard for circulation of counterfeit EC$100 notes within the Eastern Caribbean region, reports Caribbean360.
Governor of the Eastern Caribbean Central Bank (ECCB), Sir Dwight Venner, said that there was a strong case for amalgamating banks across the Eastern Caribbean.
The Eastern Caribbean Central Bank (ECCB) issues the EC$, 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.
Construction and Civil Engineering performance at Johnston International is still slightly below expectations, but the forecast earnings stream from the cruise port project in the Bahamas and the second phase of the Eastern Caribbean Central Bank is expected to lead to improved performance as the fiscal year develops.