{"id":5921,"date":"2019-09-07T18:29:22","date_gmt":"2019-09-07T18:29:22","guid":{"rendered":"https:\/\/annsvg.com\/?p=5921"},"modified":"2019-09-07T18:31:13","modified_gmt":"2019-09-07T18:31:13","slug":"central-bank-approves-scotia-bank-sale-but-not-in-antigua","status":"publish","type":"post","link":"https:\/\/annsvg.com\/index.php\/2019\/09\/07\/central-bank-approves-scotia-bank-sale-but-not-in-antigua\/","title":{"rendered":"Central Bank Approves Scotia Bank Sale But Not In Antigua"},"content":{"rendered":"<p class=\"wp-block-paragraph\"><a class=\"td-mobile-logo td-sticky-disable\" href=\"https:\/\/antiguanewsroom.com\/\"><\/a><\/p> <p class=\"wp-block-paragraph\"><\/p>  <p class=\"wp-block-paragraph\">Discussions on the future of Scotiabank\u2019s operations in Antigua and Barbuda are ongoing.<\/p> <p class=\"wp-block-paragraph\">The ECCB Monetary Council met on 6 September, via videoconference, to discuss the ECCB\u2019s assessment of the Republic Financial Holdings Limited\u2019s application to acquire the Bank of Nova Scotia\u2019s operations in ECCB member countries.<\/p>  <p class=\"wp-block-paragraph\">1. The RFHL\u2019s Strategic Plan 2018-2020;<br>2. The financial condition of RFHL to support the operations of the acquired banking business of BNS, as well as all of RFHL\u2019s subsidiaries;<br>3. The implications for the stability of the ECCU banking system; and<br>4. The technical\/human resource capacity of RFHL to effectively govern its subsidiaries across multiple jurisdictions.<\/p> <p class=\"wp-block-paragraph\">In completing its assessment, the ECCB consulted with the Central Bank of Trinidad and Tobago (CBTT), RFHL\u2019s home regulator.<br>The approval granted to the RFHL is subject to the condition that RFHL will be required to make a stake of its ECCU operations available to the people of the ECCU through approved ECCU entities.<\/p> <p class=\"wp-block-paragraph\">The ECCB is in the process of communicating the requirements for finalisation of the transaction between RFHL and BNS and will continue to monitor the process to ensure full regulatory compliance. The ECCB believes that Republic Bank\u2019s corporate banking record and its extensive network of correspondent banks will bode well for the ECCU banking sector.<br>The ECCB is resolute about its mandate to protect the EC dollar and will continue to maintain high levels of foreign reserves while protecting the stability of the banking system.<br>Citizens and residents in ECCB member countries are encouraged to stay abreast of developments in the financial sector.<\/p> <p class=\"wp-block-paragraph\"><\/p>","protected":false},"excerpt":{"rendered":"<p>Discussions on the future of Scotiabank\u2019s operations in Antigua and Barbuda are ongoing. The ECCB Monetary Council met on 6 September, via videoconference, to discuss the ECCB\u2019s assessment of the Republic Financial Holdings Limited\u2019s application to acquire the Bank of Nova Scotia\u2019s operations in ECCB member countries. 1. The RFHL\u2019s Strategic Plan 2018-2020;2. The financial<\/p>\n","protected":false},"author":8,"featured_media":5923,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1,6],"tags":[],"class_list":["post-5921","post","type-post","status-publish","format-standard","has-post-thumbnail","category-mainstory","category-regional-and-international-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Central Bank Approves Scotia Bank Sale But Not In Antigua - Asberth News Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/annsvg.com\/index.php\/2019\/09\/07\/central-bank-approves-scotia-bank-sale-but-not-in-antigua\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Central Bank Approves Scotia Bank Sale But Not In Antigua - Asberth News Network\" \/>\n<meta property=\"og:description\" content=\"Discussions on the future of Scotiabank\u2019s operations in Antigua and Barbuda are ongoing. 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