The Eastern Caribbean Central Bank (ECCB) and the Regional Government Securities Market (RGSM) have launched a Retail Bond Initiative to expand household access to government securities across the Eastern Caribbean Currency Union (ECCU), with the Governments of Grenada and Saint Christopher (St Kitts) and Nevis set to issue the inaugural retail instruments. The initiative targets persistently low retail participation on the RGSM, where individuals have contributed 1.5% (XCD 310.3m) of about XCD 20.7bn raised over more than 20 years and only 600 people have ever invested. After the Regional Debt Coordinating Committee requested steps to increase household participation, a survey by the ECCB’s Research, Statistics and Data Analytics Department identified three main barriers: the minimum investment amount of XCD 5,000, high fees, and lack of knowledge. The retail bond product lowers the minimum investment to XCD 500 (in XCD 100 increments) and sets a maximum of XCD 50,000 per investor, with a 4.25% annual interest rate and a two-year term with principal repaid at maturity; individuals can invest through a licensed broker on the RGSM.
Eastern Caribbean Central Bank 2025-10-07
Eastern Caribbean Central Bank and Regional Government Securities Market launch Retail Bond Initiative with XCD 500 minimum investment
The Eastern Caribbean Central Bank and the Regional Government Securities Market have launched a Retail Bond Initiative to enhance household access to government securities in the Eastern Caribbean Currency Union. It addresses low retail participation by reducing the minimum investment to XCD 500 and capping investments at XCD 50,000, offering a 4.25% annual interest rate over a two-year term. The Governments of Grenada and Saint Christopher (St Kitts) and Nevis will issue the inaugural retail instruments.