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<span style="font-weight: bold">News Source: OTGNR - </span>
<span style="font-weight: bold"> BoJ survey shows Banks increase...change (RJR)...</span>
A Bank of Jamaica (BOJ) survey on bank rates and charges show that a slew of new charges were implemented by financial institutions to supplement their earnings in the aftermath of the Jamaica Debt Exchange (JDX) earlier this year. The JDX saw banks' inflows from Government paper declining and these institutions used the new charges to make up the gap.In addition to that, the survey found that charges that existed before were increased to create new income as well.Executives of commercial banks and the BOJ discussed the findings in a meeting on Tuesday which is said to have been cordial.The full report will be made public soon.Finance Minister Audley Shaw is planning to use the results of the survey to form the basis of talks with the banks to see what can be done about some of the charges.That meeting is to take place next on Wednesday December 1.
<span style="font-weight: bold"> BoJ survey shows Banks increase...change (RJR)...</span>
A Bank of Jamaica (BOJ) survey on bank rates and charges show that a slew of new charges were implemented by financial institutions to supplement their earnings in the aftermath of the Jamaica Debt Exchange (JDX) earlier this year. The JDX saw banks' inflows from Government paper declining and these institutions used the new charges to make up the gap.In addition to that, the survey found that charges that existed before were increased to create new income as well.Executives of commercial banks and the BOJ discussed the findings in a meeting on Tuesday which is said to have been cordial.The full report will be made public soon.Finance Minister Audley Shaw is planning to use the results of the survey to form the basis of talks with the banks to see what can be done about some of the charges.That meeting is to take place next on Wednesday December 1.