ECCB

The Eastern Caribbean Central Bank (ECCB) is the central bank for the Eastern Caribbean Currency Union (ECCU), which uses the Eastern Caribbean dollar (EC$) as its common currency. The ECCU comprises six independent states—Antigua and Barbuda, Dominica, Grenada, Saint Kitts and Nevis, Saint Lucia, and Saint Vincent and the Grenadines—along with two British overseas territories, Anguilla and Montserrat. The ECCB is headquartered in Basseterre, Saint Kitts and Nevis.

The ECCB was established by the ECCB Agreement of 1983, taking over monetary policy and the issuance of the EC dollar from predecessor arrangements. It began operations to manage the EC dollar and support economic stability across the member states.

The ECCB issues EC dollars, conducts monetary policy, manages foreign exchange reserves, and oversees the financial system. It also supervises banks and other financial institutions, administers payment and settlement systems, and provides banking and financial services to governments and the private sector. The bank aims to foster financial stability, sustainable growth, and risk management.

The ECCB is governed by a Governor and a management team, guided by a board and the ECCU Council of Ministers. The bank publishes economic data, research, and policy advice, and engages in development and technical cooperation among member states.

The EC dollar is pegged to the U.S. dollar at a fixed rate of 2.70 EC dollars per 1 U.S. dollar. The ECCB manages monetary policy within a framework aligned with this peg, using instruments such as reserve requirements and policy rates.