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

International Monetary Fund

No 2006/156, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

Keywords: ISCR; CR; securities dealer; interest rate; monetary policy; security dealers sector; capital adequacy ratio; central bank; yield curve; GOJ securities holding; fixed income; Credit bureaus; Securities; Capital adequacy requirements; Anti-money laundering and combating the financing of terrorism (AML/CFT); Credit; Caribbean (search for similar items in EconPapers)
Pages: 64
Date: 2006-05-01
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