ECCB Governor Issues Statement on Steps to Strengthen the ECCU Banking System

Governor of the Eastern Caribbean Central Bank (ECCB), the Honourable Sir K Dwight Venner, will address the citizens and residents of the Eastern Caribbean Currency Union (ECCU) via radio and television at 8:00 p.m. tomorrow (Thursday, 7 May) on the steps being taken by the ECCB Monetary Council and the Central Bank to address the challenges affecting the ECCU banking system.

The address will outline the legislative and other steps being proposed by the Central Bank and agreed to by the Monetary Council Council to provide for greater protection of depositors and increased regulation of commercial banks in keeping with new international requirements.

The Governor will also highlight the institutions with which the ECCB has been coordinating to resolve the three main developmental challenges facing the ECCU countries namely: financial stability and development; sustained economic growth; and fiscal and debt consolidation.

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