We would like
to thank you for your contribution and support throughout the year 2008 and
wish for you a prosperous and productive 2009.
From
the President’s Desk
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FINANCIAL SERVICES COMMISSION(FSC)
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The JSDA/FSC quarterly
meeting that was scheduled for 11 December 2008 was postponed to facilitate
the attendance of the new Executive Director who will join the FSC on 5
January 2009.
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BANK OF JAMAICA
(BOJ)
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National
Payments System
There are some uncertainties surrounding the
treatment of REPO transactions and the Payment Systems and concerns with
respect to how broker dealers who are not Primary Dealers will conduct
settlement with the CSD.These
concerns are being brought to the attention of the Central Bank.
The JSDA Sub-Committee is currently preparing a
paper which will present a case to the BoJ for the provision of intraday
liquidity for Primary Dealers.
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ALTERNATIVE CAPITAL ADEQUACY MODEL (MARGIN R)
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The Secretariat made an initial payment of J$1.0m
to JMMB to partially compensate the institution for its development of the
Margin R Model. Members are urged to submit their contribution towards this
project as soon as possible.
The relevant JSDA team will meet with the FSC/IMF
team to discuss the Regulator’s formal endorsement of the Model.
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JSDA PUBLIC
EDUCATION PROGRAMME
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The JSDA Marketing Committee has recommended that
the JSDA host Quarterly Breakfast Press Briefings as a part of its public
education drive.
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INSTITUTE OF
CHARTERED ACCOUNTANTS OF JAMAICA (ICAJ)
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The JSDA and ICAJ are in discussions regarding the
Association’s move towards establishing a local composite curve.ICAJ has indicated that the development of
a yield curve is urgently needed.
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