Chronological Highlights of the Organisation
1994
- 1995
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A Monetary Policy Unit was established in January.
- A Monetary and Capital Market Development Unit was established
in January.
- The Bank established an Administrative, Policy Co-ordination
and Evaluation Unit in January.
- ECCB spearheaded the implementation of the Eastern Caribbean
Economic Management Project (ECEMP) sponsored by CIDA. There
were two components to the project; (i) the restructuring
and computerisation of the inland revenue departments in member
territories, and (ii) enhancing the financial management functions
of the Accountants General departments. Both components complemented
the Fiscal Reform Programme of the ECCB, which is regarded
as an essential prerequisite for continued economic development
and transformation in member countries.
- In September the Eastern Caribbean Home Mortgage Bank
(ECHMB) was formally established as a legal entity, following
the ratification of the ECHMB Agreement by seven of the eight
territories.
- The Bank moved into its new headquarters building in August.
The headquarters was officially opened on October 29.
- The ECCB issued prudential guidelines governing large
credit exposures and money laundering to all supervised banks
during the course of the year. These guidelines were based
on the principles as enunciated by the BASLE Committee on
International Banking Supervision.
On June 25, the first Board of Directors and Executive Committee
for the ECHMB were appointed to and manage the Institution
with the assistance and support of the Central Bank. Mr K.
Dwight Venner, Governor of the ECCB, was appointed Chairman
of the Board.
- The Bloomberg System was installed at the ECCB on October
16, to provide economic, financial and political information
on all market sectors on a twenty-four hour basis.
- The Bank undertook a survey of the Government Securities
Market and facilitated an IMF mission to review the market
and prepare proposals for the further development of the primary
and secondary markets for government securities.
- The Bank entered into negotiations with the Caribbean
Development Bank (CDB) and the Inter-American Development
Bank (IDB) for funding via the Multilateral Investment Fund
(MIF) to provide technical assistance for the establishment
of the Over-The-Counter Call Exchange, the development of
uniform securities legislation and a Central Securities Depository.
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1996 - 1998
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1994
- 1995