Effective 12 August 2013, the Eastern Caribbean Central Bank assumed control over the respective properties, undertakings and affairs of the Caribbean Commercial Bank Ltd and the National Bank of Anguilla Ltd and have placed both institutions in conservatorship.
This action was taken through the exercise of the Central Bank’s emergency powers as advised by the Monetary Council of the ECCB in accordance with the ECCB Agreement.
Both financial institutions will continue to operate as normal and will be open for business tomorrow 13 August 2013.
The Central Bank took this action in order to safeguard the interests of all depositors and creditors of CCB and NBA. The Anguilla Social Security Board is a major depositor in both indigenous banks and hereby expresses its unequivocal support of the efforts of the Central Bank in implementing its strategy to stabilize and restructure both CCB and NBA.
Alkins Rogers
Chairman
(Published without editing by The Anguillian newspaper.)
