Central Bank working to maintain stability of financial system

 

In keeping with this, the Central Bank said it is continuing to advance its efforts to implement the Resolution Strategy for Strengthening the Resilience of the ECCU Financial System. This new declaration has come in the midst of the recent decision to take control of two banks in the ECCU member territory of Anguilla.

The Caribbean Commercial Bank (Anguilla) Ltd (CCB) and the National Bank of Anguilla Ltd (NBA) continued to conduct normal banking operations throughout the two-week period following the Eastern Caribbean Central Bank’s (ECCB) assumption of the management and oversight of the two institutions on 12 August.

The ECCB has again praised the depositors, creditors and shareholders of the CCB and the NBA for demonstrating confidence in the Anguilla banking system and for their continued support as the Central Bank and the team of professionals from the International Monetary Fund (IMF) and The World Bank continue to work together to stabilize, strengthen and restructure the banks.

The ECCB also extended thanks to the staff of the CCB and the NBA for their assistance and their invaluable role in maintaining the public’s confidence and loyalty to the banks and to the financial and commercial communities in Anguilla for their cooperation.


 

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