Eastern Caribbean Central Bank

Address: Bird Rock
City: Basseterre
Country: St Kitts and Nevis


Description:

The Eastern Caribbean Central Bank (ECCB) was officially commissioned on 1 October 1983, and is the Monetary Authority for a population of more than 600,000 people spanning six sovereign countries: Antigua and Barbuda, the Commonwealth of Dominica, Grenada, Saint Christopher (St Kitts) and Nevis, Saint Lucia, and Saint Vincent and the Grenadines, and two overseas countries of the United Kingdom: Anguilla and Montserrat. The ECCB is responsible for monetary stability and safe- guarding of the banking system in the Eastern Caribbean Economic and Currency Union (OECS/ECCU). As both a quasi–currency board and a currency union, the ECCB has several characteristics that set it apart from other central banks. The ECCB’s competencies include banking supervision jointly with the member countries’ finance ministries, making it the first-ever supranational banking supervisor ahead of the Central Bank of West African States, Bank of Central African States and the European Central Bank. The ECCB’s mission statement also mandates it to ensure the integrity of the banking system to create growth and development in its member countries.