The Eastern Caribbean Central Bank (ECCB) presented a draft Financial Sector Roadmap 2026-2031 at its eighth annual conference with licensed financial institutions, outlining measures to expand credit access, protect consumers and strengthen financial stability. Governor Timothy N.J. Antoine urged institutions to lend more to overlooked, creditworthy borrowers, highlighting approximately XCD 1.5 billion in excess banking system liquidity as of Sept. 30, 2026. The roadmap supports the ECCB’s Big Push strategy to double the size of Eastern Caribbean Currency Union (ECCU) economies within 10 years, requiring approximately 7% annual real economic growth.
Shared with financial institutions for feedback, the draft comprises approximately 30 initiatives across nine workstreams, with implementation planned in three phases spanning the 2026/27 to 2030/31 financial years. Key initiatives include the CARICOM Payments and Settlement System (CAPSS), designed to enable faster, cheaper payments across borders in local currencies. The ECCB previously discussed plans for a CAPSS pilot in 2025, highlighting its potential to reduce foreign exchange costs and reliance on correspondent banks. Separately, the ECCU Fast Payment System is intended to clear and settle electronic transfers and make funds available within seconds, 24 hours a day, including weekends and public holidays.