The Bank of Jamaica (BOJ) says it received five bids totalling $2.75 billion for the $2.5 billion it made available in cash support to deposit-taking institutions (DTIs) facing temporary liquidity shortages on Monday.
Deposit-taking institutions include commercial banks, building societies, merchant banks and credit unions.
The central bank says it ultimately provided only $2.5 billion in an offer at an average interest rate of 6%.
The highest bid received was 6.2% for $500 million, while the lowest was 6% for $750 million.
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