There will be more changes to Jamaica’s banking system in 2021, as the Bank of Jamaica (BOJ) imposes stronger capital and liquidity requirements to make it more resilient to economic and financial shocks.

In a 148-page consultation paper released to the wider financial sector on its proposals for the implementation of the Basel III Regulatory Capital Framework, the BOJ outlined new capital and liquidity requirements, arguing that the current measures are no longer aligned with widely observed international regulations.


The Basel III Regulatory Capital Framework is the system widely used by developed countries across the globe.


The framework, which is being implemented in Jamaica is consistent with the requirements recently introduced by the Basel Committee on Banking Supervision (BCBS), will meet the standards applied in other advanced economies.