Category: Top stories: Local

Jamaican banks held to higher standards than Basel proposal

Posted on by Your Financial FactSheet


Jamaica Gleaner: “Jamaican banks held to higher standards than Basel proposal”

Newly recommended rules for capital adequacy and risk management, to take effect globally over the next five to 10 years, are unlikely to cause any displacements in Jamaica’s commercial banking system, according to a senior central banker.


Jamaica Observer: “Jamaica after the global recession”

MOST persons agree that the worst of the global recession seems to be over for now. There was a heightened risk of a double dip occurring, which is still possible, but this has been reduced with the return of growth to emerging economies.


Jamaica Observer: ‘Ha, ha, ha… who’s laughing now!”

Minister of Finance Audley Shaw last week attended the IMF/World Bank Annual Meetings where he provided reviews on the performance of the Jamaican economy and gave accounts of the damage done to the island by Tropical Storm Nicole.


Jamaica Observer: “US trade deficit ballons as gap with China hits new record”

THE US trade deficit ballooned in August as the gap with China hit a fresh record, official data showed yesterday, suggesting further weakness in the economic recovery.

Banks downplay fee findings

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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

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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.