On August 12, 2013 the Eastern Caribbean Cenlral Bank
assumed the control of 2 largest banks which operate in Anguilla:
Caribbean Commercial Bank (Anguilla) Limited and
National Bank of Anguilla Limited.
The amount of non-performing loans of these banks escalaled
to the levels beyond the guidelines set by the Central Bank
and this in turn resulted in the banks not meeting the capilal requirements.
The objective of this action were
- Stabilise and restructure the both banks and return them to a normal operational state.
- Protect the depositors and the creditors.
- Ensure the stability of the banking system in Anguilla and the Eastern Caribbean Currency Union.
On April 22, 2016
two domestic banks of indigenous capital
National Bank of Anguilla Limited
Caribbean Commercial Bank (Anguilla) Limited
ceased to carry their banking business.
The operations of the banks were transferred to a newly established bank,
National Commercial Bank of Anguilla Limited
which is solely owned by the Government of Anguilla.
Bank CategoryDomestic banks
There is no deposit guarantee scheme in Anguilla: in the case of
Caribbean Commercial Bank (Anguilla) Limited failure its depositors will not get any compensation.