IMF Staff Country Reports

Jamaica: Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics: Basel Core Principles for Effective Banking Supervision, the CPSS Core Principles for Systemically Important Payment Systems, and IMF Monetary and Financial Policy Transparency Codes

May 1, 2006

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International Monetary Fund. Monetary and Capital Markets Department "Jamaica: Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics: Basel Core Principles for Effective Banking Supervision, the CPSS Core Principles for Systemically Important Payment Systems, and IMF Monetary and Financial Policy Transparency Codes", IMF Staff Country Reports 2006, 156 (2006), accessed November 21, 2024, https://doi.org/10.5089/9781451820164.002

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Summary

This paper discusses key findings of the Financial System Stability Assessment on the Basel Core Principles for Effective Banking Supervision, the Committee for Payment and Settlement Systems (CPSS) Core Principles for Systemically Important Payment Systems, and IMF Monetary and Financial Policy Transparency Codes for Jamaica. The assessment reveals that, although the financial system currently appears well capitalized and supervision has been considerably strengthened in recent years, financial institutions operate in a risky macroeconomic environment. Structural priorities are to improve the insolvency and creditor rights regime and introduce a central securities depository for fixed-income securities.

Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Capital adequacy requirements, Credit, Credit bureaus, Crime, Financial institutions, Financial markets, Financial regulation and supervision, Money, Securities

Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), Capital adequacy ratio, Capital adequacy requirements, Caribbean, Central bank, CR, Credit, Credit bureaus, Fixed income, GOJ securities holding, Interest rate, ISCR, Monetary policy, Securities, Securities dealer, Security dealers sector, Yield curve

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