Regulatory Alerts2015-01-01
The Banking Services (Establishment of Branches) Regulations, 2015
The Supervisory Committee of Jamaica issued these regulations to mandate prior written approval for deposit-taking institutions establishing, relocating, or discontinuing branches or representative offices. The framework requires applicants to demonstrate operational capacity, financial adequacy, and compliance with local public interest standards, while imposing strict consultation and consent requirements for overseas operations. Additionally, the rules govern cash reserve calculations, notification of material changes, and the continuation of existing offices under transitional provisions.
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