Tag: bank


BOJ On Track For Digital Currency Rollout

The Bank of Jamaica (BOJ) remains on track for rollout of the Central Bank Digital Currency (CBDC) during the first quarter of 2022. Deputy Governor with responsibility for Banking, Currency Operations, and Financial Markets, Natalie Haynes, said that several key outputs are being targeted for the period. These are passage of amendment to the Bank of Jamaica Act to make […]


CEO Jamie Dimon Pushes For Employees To Get Back To Office

JPMorgan Chase & Co. Chief Executive Officer (CEO) Jamie Dimon is seeking to bring employees back to the office. This move is the first call by a major U.S. bank to mandate a return to offices for its entire U.S. workforce, with staffers being told they’ll need to come back in about two months. The lender’s top decision-making body, led […]


Marijuana Banking Bill Approved

The U.S. House of Representatives passed a Bill that would give state-authorized marijuana businesses easier access to banking services. The Bill, H.R. 1996, called the SAFE Banking Act, would prohibit federal banking regulators from penalizing banks and other depository institutions for providing banking services to cannabis businesses. The Bill was passed on a 321-101 bipartisan vote. It prohibits regulators from penalizing […]


JPMorgan Set To Move $234 Billion In Assets From UK

According to Press reports, JPMorgan Chase & Co is seeking to move about $234 billion of assets from the United Kingdom to Germany as a result of Britain’s exit from the European Union. In January, the bank had also announced it would significantly expand its Paris hub as part of plans to relocate some services from London after Brexit. The […]


Netflix Set To Invest In Black-Owned Banks

Netflix has announced that it will be investing in Black-owned banks to help close the wealth gap between Black and White America. The media-services provider and production company headquartered in Los Gatos, California, plans to deposit two percent of its cash, or an estimated $100 million, into Black-owned financial institutions and community development organizations. The company argued that these institutions […]


BOJ Sees Increase In Credit By Deposit-Taking Institutions

The Bank of Jamaica (BOJ) is reporting a dramatic increase in credit extended by deposit-taking institutions to businesses and households for the 12-month period, ending December 2019. BOJ Governor Richard Byles said credit to businesses grew by 20.3 percent, while the provision to households increased by 16.5 percent. He was addressing the BOJ quarterly media briefing recently. Pollyanna Davy, Readers […]


Haiti’s Central Bank Signals Mixed Economic Outlook

According to press reports, the Bank of the Republic of Haiti (BRH) is projecting a mixed economic outlook and pins the economic situation on what obtains within the next three months on the socio-political climate. The Central Bank reveals that the economy has been impacted negatively during October and November last year. It says for 65 percent of the companies […]


Wells Fargo Gets New Executive

The Board of Directors of Wells Fargo has announced that Charles W. Scharf will become the company’s new CEO and president and a member of the Board of Directors, effective October 21, according to a media release on the company’s Website. Wells Fargo Board Chair Betsy Duke said, “I am delighted to welcome Charlie as our new CEO. Charlie is […]


Minister Touts Jamaica’s Record Economic Activity

Minister of Finance and the Public Service, Dr. Nigel Clarke, in a recent report noted that Jamaica is experiencing an unprecedented level of economic activity with 17 consecutive quarters of growth and unemployment now at the lowest rate in the nation’s history. “We have never had unemployment this low where more people are employed today than those who are unemployed,” […]


Jamaica’s Economy Looms Large

According to the Bank of Jamaica (BOJ) Governor, Brian Wynter, Jamaica’s macroeconomic prospects “remain positive as the indicators and outputs continue to show signs of recovery.” “Foreign reserves are above the level deemed adequate and the current account deficit remains low and sustainable. Additionally, market interest rates are at historic lows and fiscal performance continues to be strong,” he posited. […]