Consultation Paper

Example

**** Proposals for a Special Resolution Regime for Financial Institutions in Jamaica **** Published: February 28, 2017

This Consultation Paper outlines proposals to enhance the current legal framework for the resolution of regulated non-viable financial institutions (FIs) in Jamaica. The institutions proposed to be within the scope of this framework include: financial holding companies (FHCs), commercial banks, merchant banks and building societies regulated by Bank of Jamaica as well as securities dealers and life and general insurance companies regulated by the Financial Services Commission (FSC).

News & Events

Presentation by Antoinette McKain, CEO, JDIC at the Global Association of Risk Professionals Jamaica Chapter Meeting held October 7, 2016.

The presentation outlined:

  • Definition of Financial System Crisis
  • Causes of Financial System Crises
  • The Wall Street Stock Market Crash 1929...

Please see the attached advertisement on the Online/Android Financial Education Awards Ceremony which appeared in the Jamaica Observer.

Did You Know?

With the establishment of the JDIC and the passing of the Deposit Insurance Act 1998, all depositors of a bank or other insured deposit-taking financial institution that fails will get back up to a maximum of $600,000.

In the past when a bank failed there was no guarantee as to how much the depositors of the failed institution would be refunded.

In light of the number of bank failures of the mid-nineties, the Government recognized the need for a formal system of deposit insurance.

The Jamaica Deposit Insurance Corporation (JDIC) is an independent statutory organization set up by the Government to protect depositors.