The Bank of Jamaica says 296 bids valued at $37.64 billion were submitted for the $33 billion it was seeking through its 30-day 6.5% per annum fixed rate Certificate of Deposit on Wednesday.
The bank, however, says it accepted only 282 bids valued at $33 billion, while pointing out that the average yield on these bids was 6.59% per annum.
The lowest bid was 6% per annum for $371.37 million, while the highest bid was 7.25% per annum for $1 billion. The total amount of fixed rate Certificates of Deposit outstanding is currently $133 billion or 4% of GDP.
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