Historical Perspective Chronological Highlights of the Organisation 1996 - 1998 Overview 1950 - 1983 1984 - 1986 1987 - 1989 1990 - 1993 1994 - 1995 1996 - 1998 1999 - 2002 2003 - 2006

- The Bank established the Financial and Enterprise Development Unit by merging the Export Credit Unit and the Money and Capital Market Development Unit.

- In August the Bank lowered its official discount rate from 9.0 per cent to 8.0 per cent, as a means of stimulating a pick-up in investment activity.

- The Eastern Caribbean Institute of Banking was launched on July 7, in Grenada.

- In September the Bank commissioned the World Bank to undertake a review of the OECS financial sector. This involved assessing the institutional infrastructure and scope of financial institutions, and determining the measures required for developing and deepening money and capital markets, and creating a single financial space.

- In October the Bank commissioned the World Bank and the Commonwealth Secretariat to undertake a study of the payment systems with a view to identifying and creating a framework for an effective payment systems.

1997
The ground breaking ceremony for phase II of the ECCB Headquarters building project, which involved the construction of new office buildings, an auditorium and a cafeteria/staff facility, was held on September 16.

1998
The Banking and Monetary Operations Department was established on December 1, and evolved from the former Banking and Operations Department. The Department comprises four units the Domestic Banking Unit, Investment Management Unit, Foreign Exchange Unit and the Operations/Settlements Unit.

- The Accounting and Currency Department was established on December 1, and evolved from the former Banking and Operations Department. The Department comprises the Financial Application and Accounting Unit, the Budget and Payments Unit and the Currency Unit.

1999 - 2002