BOJ Extends Tenure of CDs

The Bank of Jamaica (BOJ) has lengthened the tenure of its certificate of deposits (CDs) offering a three, five and a seven year instrument all for an unlimited amount.

It also announced earlier this week that two new JMD issues in the amount of $1-billion each and of 365 day tenure.

The JMD instruments are being offered at the rate of 5.8 per cent.

Until next week Tuesday, April 19 applicants can bid for these instruments as well as for the three USD instruments which are unlimited.

The three year instrument offers a fixed coupon of 2.2 per cent per annum meanwhile the five year instrument has a fixed coupon rate of 3.1 per cent per annum and the seven year instrument offers a fixed coupon of 3.7-percent per annum.

All coupons are to be paid semi-annually.