Mission Statement To maintain the stability of the EC dollar
and the integrity of the banking system in order to facilitate
the balanced growth and development of member states.
Who We Are , What We Do
The Eastern Caribbean Central Bank was established in October
1983. It is the Monetary Authority for a group of eight island
economies namely - Anguilla, Antigua and Barbuda, Commonwealth
of Dominica, Grenada, Montserrat, St Kitts and Nevis, St Lucia,
and St Vincent and the Grenadines.
The monetary arrangements are characterised
by:
The issuance of a single common currency, the flow of which
is unrestricted among its members.
A common pool of foreign exchange reserves; and
The existence of a Central Monetary Authority which decides
on the Union's monetary policy.
The
purposes of the Bank are:
To regulate the availability of money and credit.
To promote and maintain monetary stability
To promote credit and exchange conditions and a sound financial
structure conducive to the balanced
growth and development of the economies of the territories of
the Participating Governments.
To actively promote through means consistent with its other
objectives the economic development
of the territories of the Participating Governments Powers and Responsibilities:
The governing bodies of the Eastern Caribbean Central Bank are
the Monetary Council and the Board of Directors. The Monetary
Council is the highest decision making authority. It is comprised
of one Minister appointed by each Government of the participating
countries. The function of the Council is to provide directives
and guidelines on matters of monetary and credit policy to the
Bank. The Board of Directors is comprised of ten Directors -
the Governor and Deputy Governor, and one Director appointed
by each Government of the eight participating countries. The
Board of Directors is responsible for policy and general administration
of the Bank, while the Governor, the Chief Executive, is responsible
for the day-to-day management and operations.
