Bank of Jamaica will be offering three variable rate instruments commencing Friday, 26 July 2013 to Friday, 02 August 2013 as a continuation of open market operations. The announcement again comes at a time when it appears that authorised dealers are holding back on selling the foreign currency into the system as is evident for the past four days.
The instruments on offer are:
- A 186-day Certificate of Deposit, for an unlimited amount. The instrument re-prices quarterly at 0.15 percentage point above the three month GOJ Treasury Bill rate existing at the start of each re-pricing period. The initial coupon for the first three months is 7.50 per cent per annum.
- A 276-day Certificate of Deposit, for an unlimited amount. The instrument re-prices quarterly at 0.20 percentage point above the three month GOJ Treasury Bill rate existing at the start of each re-pricing period. The initial coupon for the first three months is 7.55 per cent per annum.
- An 18-month Certificate of Deposit, for an unlimited amount. The instrument re-prices quarterly at 0.25 percentage point above the three month GOJ Treasury Bill rate existing at the start of each re-pricing period. The initial coupon for the first three months is 7.60 per cent per annum.
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