112 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | SEPARATE FINANCIAL STATEMENTS 2022 BARBADOS PUBLIC WORKERS' CO-OPERATIVE CREDIT UNION LIMITED Notes to the Separate Financial Statements For the year ended March 31, 2022 (Expressed in Barbados dollars) 85 23. Financial Risk Management, continued Credit risk, continued Credit Quality Analysis, continued The movement across ECL stages at March 31 were as follows: 2022 Stage 1 Stage 2 Stage 3 Total Expected credit loss allowance Beginning balance $ 2,054,158 1,460,060 29,614,265 33,128,483 Stage 1 to stage 2 (33,988) 31,679 - (2,309) Stage 1 to stage 3 (45,272) - 43,165 (2,107) Stage 2 to stage 1 780,621 (887,652) - (107,031) Stage 2 to stage 3 - (215,429) 204,602 (10,827) Stage 3 to stage 1 1,244,990 (1,547,249) (302,259) Stage 3 to stage 2 - 675,111 (756,315) (81,204) Net ECL re-measurement (1,201,319) 1,336,069 7,019,119 7,153,869 Ending balance $ 2,799,190 2,399,838 34,577,587 39,776,615 The movement across ECL stages at March 31 were as follows: 2021 Stage 1 Stage 2 Stage 3 Total Expected credit loss allowance Beginning balance $ 516,940 1,442,785 21,867,382 23,827,107 Stage 1 to stage 2 (23,186) 21,629 - (1,557) Stage 1 to stage 3 (17,511) - 17,113 (398) Stage 2 to stage 1 368,160 (421,268) - (53,108) Stage 2 to stage 3 - (584,015) 568,560 (15,455) Stage 3 to stage 1 709,976 (849,082) (139,106) Stage 3 to stage 2 - 181,334 (323,194) (141,860) Net ECL re-measurement 499,779 819,595 8,333,486 9,652,860 Ending balance $ 2,054,158 1,460,060 29,614,265 33,128,483
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