Non-Consolidated Annual Report 2014

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BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED NON-CONSOLIDATED ANNUAL REPORT 2014
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BARBADOS PUBLIC WORKERS' CO-OPERATIVE CREDIT UNION LIMITED
Notes to the Non-consolidated Financial Statements
For the year ended March 31, 2014
(Expressed in Barbados dollars)
57
25. Capital Management…(continued)
Capital adequacy and the use of regulatory capital are monitored daily by the Credit Union’s
management, employing techniques based on policies and guidelines regulated by the Co-operative
Societies Act.
The Credit Union’s approach to managing capital did not change during the period.
Regulatory capital requirement
Under governing legislation which became effective March 31, 2008, the Credit Union is required to
transfer from net surplus for the year an amount equivalent to the greater of 25% of net surplus or
0.5% of total assets until the capital to total assets ratio equals 10%. (Note 19)
The Credit Union has complied with all externally imposed capital requirements.