Representatives of ECCU Commercial Banks to Review New Prudential Returns
Bankers representing the 40 commercial banks which operate within the Eastern Caribbean Currency Union (ECCU), participated in a workshop at the Eastern Caribbean Central Bank (ECCB) headquarters from June 11TH to 13th.
There they reviewed the Revised Commercial Banks Prudential returns and the manual of instructions.
Prudential returns are forms on which the commercial banks report their financial information requested from the Eastern Caribbean Central Bank.
The revised prudential returns are part of the ECCB’s initiative to expand data coverage therefore, improving the prudential oversight of the commercial banks, and the compilation of monetary statistics that will conform to international reporting standards.
Improved prudential oversight of the commercial banks will enhance the overall assessment of the financial market and help to protect the interests of depositors.
During the workshop, the commercial banks representatives also discussed the implementation of the prudential returns.