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Deposit Insurance Fund projected to increase in 2017/2018

The country's Deposit Insurance Fund is projected to increase to J$19 billion during the 2017/2018 financial year, reflecting an increase of more than $2 billion in the fund which is forecast to end 2016/2017 at $16.7 billion .

The information is contained in the public bodies report tabled in the House of  Representatives last week.  
   
It shows that the Jamaica Deposit Insurance Corporation (JDIC) which manages the Deposit Insurance Fund expects to realise a net surplus of $2.1 billion during the new financial year.
     
This will be a decline from the $2.5 billion expected during the current financial year due mainly to lower interest rates.  
   
The report states that the JDIC plans to enhance its risk assessment framework for policyholders taking into account the expected introduction of  credit unions into the deposit insurance scheme.


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