Monetary Survey (Table 1) Local And Foreign Currency
A monetary survey of money and credit based on the operations of the banking system and Central Government, compiled from monthly returns of assets and liabilities of the Central Bank, commercial banks and Central Government returns.
Foreign Assets (net) = foreign assets held by the banking system and Central Government less foreign liabilities of the Banking system. Statutory Sinking Fund investments are excluded.
Credit to Public Sector (net) = total holdings of Government securities and other claims on Government and public entities deposits with the banking system and Central Government\\\\\\\'s foreign assets.
Credit to the Private Sector = commercial banks\\\\\\\' loans and advances to private institutions and individuals plus bills discounted payable in Jamaica plus other internal investments plus Bank of Jamaica discounts and advances and investments to the private sector.
Demand Deposits (adjusted) = commercial banks\\\\\\\' demand deposits of private institutions and individuals plus bankers\\\\\\\' drafts outstanding, less cash items in the process of collection.
Currency with the public = the total currency liability of the Central Bank, less currency held
in commercial banks and the Central Bank.
Changes In The Determinants Of Money Supply (Table 2s) Local Currency Only
This table is based on monetary survey table. Data in this table show changes in the various factors affecting
money supply. Minus sign denotes contractionary influence: no sign denotes expansionary influence.
A monthly consolidated summary of the monetary assets and liabilities of the Central Bank and Central Government.
Foreign Assets = Net Foreign Assets held by the Bank of Jamaica
and Central Government.
Claims on Central Government = Government advances and securities held by the Bank of Jamaica, less Central Government foreign assets.
Bankers Deposits, Other Deposits and Government Deposits are adjusted to exclude items in process of collection.
Currency = notes and coins issued by the Bank of Jamaica.
Other Deposits include deposits of the National Insurance Fund and other official institutions.
Capital and Reserve Fund: Capital Paid up is J$4 mn.
Other Reserves include Currency, and special reserves.
Foreign Assets include balances held in banks and other institutions abroad, foreign securities, foreign notes
and coins, and subscription to the International Monetary Fund and Holdings of SDRs.
Table 5a: Uses of Funds
Currency issue comprises of currency in the hands of the non-bank public plus vault cash held in the banking system.
Current accounts of commercial banks comprise transaction balances and excess reserves. Data however reflect credit balances only.
Table 5b: Sources of Funds
The international reserves of the BOJ are external assets that are readily available to and controlled by the Bank for satisfying balance of payments financing requirements for intervention in the foreign exchange market to affect the foreign currency exchange rate and for other related purposes. The latter may include the maintenance of confidence in the currency and the economy.
Net Domestic Assets is the sum of BOJís Net Claims on the Public Sector, Open-Market Operations, Net Credit to Commercial Banks, and Other.
Total Monetary Base is the sum of Net International Reserves and Net Domestic Assets.
The Central Bank stands at the center of the local financial system and is charged with the responsibility to promote and maintain financial system stability. To achieve this objective, the Bank supervises the activities of deposit-taking entities. In addition, the Bank seeks to promote the development of the local financial markets, and regulates and supports the major clearing and settlement systems.
Under the Bank of Jamaica Act (1960), the conduct of monetary policy is aimed at regulating the growth of money and credit in line with the resources expected to finance economic activity and generate employment, without undermining the conditions of price stability.
The Foreign Exchange section provides current and historical information on the movements of major currencies in relation to the Jamaican dollar. The section also provides powerful search techniques for users to manipulate the data and generate customize reports.
The Bank of Jamaica publishes in the daily newspaper each quarter, balance sheet data for commercial banks, building societies and licensees under the Financial Institutions Act . Such financial data is based on unaudited prudential returns submitted by the licensees to the Bank of Jamaica which are required to be certified by the licensee 's management as reflecting a true and fair representation of the affairs and condition of the institution at the reporting date.
The Bank of Jamaica is committed to providing information on its activities on a timely and continuous basis. In this regard, this section is designed to provide access to all major releases compiled by the Bank of Jamaica.
The Bank of Jamaica publications are aimed at providing quality economic and financial analysis and information on Jamaica as well as timely updates on matters relating directly to the functions of the Bank.