Category: Top stories: Local

Banks downplay fee findings

Posted on by Your Financial FactSheet


Jamaica Gleaner: “Banks downplay fee findings”

Commercial bank are downplaying findings of massive fee increases in the Consumer Affairs Commission’s (CAC) bank charges survey. They are pointing instead to efforts being made to encourage clients to make use of the most cost-effective means of accessing the services offered.


Jamaica Observer: “Big 3 banks respond to fee survey”

Following the release of the Survey of Bank charges, the big three commercial banks in Jamaica, the National Commercial Bank, Scotiabank and RBTT have responded to the report.

Bank Charges Surge

Posted on by Your Financial FactSheet


Jamaica Observer: “Bank Charges Surge”

Commercial bank fees and charges this year have increased by as much as 400 per cent over 2009, a new Survey of Bank Charges done by the Ministry of Industry and Commerce and the Consumer Affairs Commission (CAC) has found.


Jamaica Observer: “Consumers more optimistic”

REDUCED crime levels and economic stabilisation led to greater optimism among consumers and maintained levels of confidence among business owners during the latest confidence surveys.


Jamaica Observer: “Changes to be made to depositors’ insurance”

Important changes are being made to the Deposit Insurance Act that will mean better protection for depositors’ funds in some financial institutions.


Jamaica Observer: “JDIC takes JDX hit”

Like all other financial institutions with investments in Government of Jamaica (GOJ) securities, the entity mandated to protect depositors’ funds in the event of bank insolvency — the Jamaica Deposit Insurance Corporation (JDIC) — saw a reduction in earnings on its investments following the Jamaica Debt Exchange (JDX).


Jamaica Gleaner: “PIOJ’s ideas to kick-start the economy”

In a September 28 speech the Private Sector Organsiation’s Chairmen’s Club, the new director general of the Planning Institue of Jamaica (PIOJ), Dr Gladstone Hutchinson, argued that fiscal consolidation and reducing crime and violence were critical measures to be undertaken by the government to create and environment for growth.

FSC moves to regulate UFOs

Posted on by Your Financial FactSheet


Jamaica Observer: “FSC moves to regulate UFOs”

THE Financial Services Commission (FSC) is in the process of developing two new pieces of legislation that are aimed at protecting depositors and investors and regulating Ponzi schemes in Jamaica.


Jamaica Observer: “New PIOJ head explains ‘Why growth has eluded us as a nation’ – Part 1”

At the PSOJ’s Chairman’s Club last Tuesday, newly appointed Director General of the Planning Institute of Jamaica (PIOJ), Gladstone Hutchinson, cut to the heart of the question “Why growth has eluded us as a nation?”


Jamaica Gleaner: “Hutchinson outlines formula to reinvigorate Jamaican economy”

The new head of the government’s planning agency, Dr Gladstone Hutchinson, has proposed to his bosses a range of short-term measures, including offering tradable tax credits to start-ups, to help jump start the Jamaican economy that has shed more than 86,000 jobs since the onset of the global recession in 2008.

IMF chief: world recovery sluggish

Posted on by Your Financial FactSheet


Jamaica Observer: “IMF chief: world recovery sluggish”

WASHINGTON DC, USA — THE head of the International Monetary Fund (IMF) says that while the global economy is recovering at a sluggish pace, the recovery remains uncertain because of the risk that not enough jobs will be created to make the rebound secure.

Jamaica Observer: “Corporate bonds: an opportunity for firms and investors”

SINCE February 2010, the yield on the Bank of Jamaica’s (BOJ) six month Treasury Bill (T-Bill) has declined by 3.02 per cent. Consequently, the results of the most recent T-Bill auction came as no surprise to the market as current economic conditions continue to foster a low interest rate environment, at least for Government of Jamaica (GOJ) and BOJ instruments.


Jamaica Observer: “I guarantee it!”

THEORETICALLY, a lender’s comfort with extending financing facilities to a borrower is reflected in the interest rate charged on the loan. A comprehensive collateral coverage and a high level of comfort in relying on this security usually translate into a reduced interest rate charged on the loan.


Jamaica Observer: “US Consumer, business confidence both weaken”

NEW YORK, United States — AMERICANS’ view of the economy turned grimmer in September amid escalating job worries, falling to the lowest point since February.