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Financial stability of ECCU uncertain

The Eastern Caribbean Central Bank (ECCB) on Wednesday expressed concern about the status of the financial stability of the Eastern Caribbean Currency Union (ECCU).
    
In recent days, the National Bank of Anguilla and the Caribbean Commercial Bank were closed with their operations to be transferred to a new entity. 
      
Over the past seven years the Central Bank has had to intervene in the management of four of the region's commercial banks.
     
Trevor Braithwaite, deputy governor of the Central Bank, has given an assurance that the Bank is taking steps to safeguard the deposits of citizens.            


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