Use the latest browser recommended by Microsoft
Get speed, security and privacy with Microsoft Edge
These guidelines seek to provide financial institutions licenced under the Banking Act with minimum requirements in determining external auditors’ suitability for appointment. They highlight key expectations which management should have of external auditors in the conduct of the audit based on international best practices.
These guidelines also seek to increase financial institutions’ awareness of the external auditors’ reporting obligations to the Central Bank regarding transactions or conditions that impinge on the well-being of the financial institution.
The administrative guidelines governing the establishment and maintenance of relationships between financial institutions and shell banks seeks to prevent a licenced financial institution from directly or indirectly establishing or maintaining relationships with shell banks.
These guidelines complement the existing Anti-Money Laundering Guidance Notes issued by the ECCB, and the guidance notes, regulations and laws issued by ECCU member governments. Where the requirements of these guidelines differ with the guidance notes, regulations or laws of a territory, the territory’s guidance notes, regulations or laws would take precedence.
The Prudential Credit Guidelines seeks to establish minimum standards for the administration, measurement and monitoring of credit risk in the portfolios of institutions licenced under the Banking Act. It also sets minimum provisioning requirements and provides guidance pertaining to the suspension of interest, treatment of renegotiated loans and the write-off of loans classified as loss.
The Prudential Guidelines on Controlling Risk in Correspondent Accounts seeks to restrict access to financial institutions licenced under the Banking Act by financial institutions not licenced under the Banking Act and/or supervised by the Eastern Caribbean Central Bank.
These guidelines complement the existing Anti-Money Laundering Guidance Notes issued by the ECCB, and the guidance notes, regulations and laws issued by ECCU member governments. Where the requirements of these guidelines differ with the individual territory guidance notes, regulations or laws, the territory’s guidance notes, regulations or laws would take precedence.
The liquidity risk management guidelines seek to provide financial institutions licenced under the Banking Act with minimum standards for the identification, measurement, monitoring and management of liquidity risk. They highlight key principles for the management of liquidity risk and minimum requirements for liquidity risk management programmes.
The guidelines indicate that at a minimum, each financial institution is expected to be able to identify, understand and measure the risks associated with the management of liquidity. The importance of managing funding sources and uses, and foreign currency liquidity is emphasised. The guidelines also advocate the implementation of effective policies and controls and the establishment of a contingency plan. The guidelines speak to the active involvement of the board and management in the management of liquidity and its associated risks.
The guidelines seek to ensure that licenced financial institutions are not the subject of improper dealings by related parties and that transactions with related parties are carried out on terms and conditions that are consistent with or substantially the same as with a non-related parties.
The guidelines identify related parties and establish a review process for transactions with such parties. The objective of the review is to ensure that related parties do not improperly use the institutions. The guidelines also seek to ensure adequate disclosure of related party transactions in the financial statements and to the Central Bank to facilitate transparency of operations.
These guidelines seek to encourage a governance framework that promotes among financial institutions, high standards of professional conduct, prudent and diligent discharge of duties and compliance with applicable laws, regulations and guidelines. Although the guidelines are not intended to be prescriptive, they set out the minimum standards the ECCB expects from financial institutions when implementing processes, structures and information systems used for managing the institution.
The guidelines focus on the responsibilities of shareholders, the board of directors and each director to the overall corporate governance process, given their level of control and influence within the organisation.
These guidelines seek to provide financial institutions licenced under the Banking Act with minimum requirements in determining external auditors’ suitability for appointment. They highlight key expectations which management should have of external auditors in the conduct of the audit based on international best practices.
These guidelines also seek to increase financial institutions’ awareness of the external auditors’ reporting obligations to the Central Bank regarding transactions or conditions that impinge on the well-being of the financial institution.
The administrative guidelines governing the establishment and maintenance of relationships between financial institutions and shell banks seek to prevent a licenced financial institution from directly or indirectly establishing or maintaining relationships with shell banks.
These guidelines complement the existing Anti-Money Laundering Guidance Notes issued by the ECCB, and the guidance notes, regulations and laws issued by ECCU member governments. Where the requirements of these guidelines differ with the guidance notes, regulations or laws of a territory, the territory’s guidance notes, regulations or laws would take precedence.
The Prudential Credit Guidelines seek to establish minimum standards for the administration, measurement and monitoring of credit risk in the portfolios of institutions licenced under the Banking Act. It also sets minimum provisioning requirements and provides guidance pertaining to the suspension of interest, treatment of renegotiated loans and the write-off of loans classified as loss.
The Prudential Guidelines on Controlling Risk in Correspondent Accounts seek to restrict access to financial institutions licenced under the Banking Act by financial institutions not licenced under the Banking Act and/or supervised by the Eastern Caribbean Central Bank.
These guidelines complement the existing Anti-Money Laundering Guidance Notes issued by the ECCB, and the guidance notes, regulations and laws issued by ECCU member governments. Where the requirements of these guidelines differ with the individual territory guidance notes, regulations or laws, the territory’s guidance notes, regulations or laws would take precedence.
The liquidity risk management guidelines seek to provide financial institutions licenced under the Banking Act with minimum standards for the identification, measurement, monitoring and management of liquidity risk. They highlight key principles for the management of liquidity risk and minimum requirements for liquidity risk management programmes.
The guidelines indicate that at a minimum, each financial institution is expected to be able to identify, understand and measure the risks associated with the management of liquidity. The importance of managing funding sources and uses, and foreign currency liquidity is emphasised. The guidelines also advocate the implementation of effective policies and controls and the establishment of a contingency plan. The guidelines speak to the active involvement of the board and management in the management of liquidity and its associated risks.
The guidelines seek to ensure that licenced financial institutions are not the subject of improper dealings by related parties and that transactions with related parties are carried out on terms and conditions that are consistent with or substantially the same as with non-related parties.
The guidelines identify related parties and establish a review process for transactions with such parties. The objective of the review is to ensure that related parties do not improperly use the institutions. The guidelines also seek to ensure adequate disclosure of related party transactions in the financial statements and to the Central Bank to facilitate transparency of operations.
These guidelines seek to encourage a governance framework that promotes among financial institutions, high standards of professional conduct, prudent and diligent discharge of duties and compliance with applicable laws, regulations and guidelines. Although the guidelines are not intended to be prescriptive, they set out the minimum standards the ECCB expects from financial institutions when implementing processes, structures and information systems used for managing the institution.
The guidelines focus on the responsibilities of shareholders, the board of directors and each director to the overall corporate governance process, given their level of control and influence within the organisation.
