News Release
14 February 2003

NET INTERNATIONAL RESERVES AND RESERVE MONEY INDICATORS

BANK OF JAMAICA
RESERVE MONEY INDICATORS (J$M)

End      
December 2002

End            
January  2003


            Change
A: CURRENCY ISSUE1/

B: COMMERCIAL BANKS
     Statutory Cash Reserves
     Current Account
2/

C: OTHER FINANCIAL INSTITUTIONS
     Statutory Cash Reserves
     F.I.A. Institutions
3/
     Building Societies

D: TOTAL (A+B+C)
24,387.31 

11,403.37 
10,839.21 
564.16 


618.13 
255.28 
362.85 

36,408.81 

  
21,129.55

11,051.00
11,033.51
17.49


613.86
253.41
360.45

32,794.41

-3,257.76

-352.37
194.30
-546.67


-4.27
-1.87
-2.40

-3,614.40


1/ Currency in circulation (in the hands of the non-bank public) plus vault cash held in the banking system.

2/ Transaction balances and excess reserves. Note: Data reflect credit balances only.

3/ Financial Institutions Act Licensees.
Note: Statutory cash reserve and current accounts of both commercial banks and other financial institutions are held at the Bank of Jamaica.

                   BANK OF JAMAICA’S INTERNATIONAL RESERVES (US$M)

End       
December  2002

End             
January 2003

Change

FOREIGN ASSETS
FOREIGN LIABILITIES
      IMF
      OTHER
NET INTERNATIONAL RESERVES

Estimated Gross Official
Reserves in Weeks of Goods Imports
1/
Reserves in Weeks of Goods & Services Imports
1/
1,643.06
   46.08
23.58
22.50
1,596.98


 27.91
18.43
 1,556.71 
46.46 
23.96 
22.50 
1,510.25 


26.45
 17.46
-86.35
0.38
0.38
0.00
-86.73



1/  Based on estimated value of imports for FY 2002/2003