Economic Bulletin - September 2008

Bank Of Jamaica offers Temporary Financing Window: The Bank of Jamaica (BOJ) on October 15, 2008 made provision for a temporary lending facility to domestic financial institutions that would be in need of liquidity to meet margin obligations abroad, and to make payments on global bonds offered by the Government of Jamaica. The facility comes in response to the recent global financial instability, and its possible impact on the local financial market. The BOJ indicated that the facility is specifically intended to alleviate short-run US dollar liquidity needs; ensure GOJ global bond stability; and to minimize pressures that will make the local foreign exchange market more unstable.