Jamaica introduces deposit requirements

The Bank of Jamaica (BOJ) has instituted a so-called Special Deposit Requirement for commercial banks and institutions licensed under the Financial Institutions Act.

A Bank press release issued on Thursday said each institution would be required to place cash deposits with the central bank equivalent to five per cent of its Jamaica dollar deposit liabilities.

"This measure is being instituted in a context of increased speculation and heightened instability in the foreign exchange market which h