Victoria Mutual Building Society: Taking Stock
商品編號：W33640
出版日期：2024/02/15
再版日期：
商品來源：
商品主題：Finance; General Management/Strategy
商品類型：Case (Field)
涵蓋議題：Mutual and Cooperative banking;competitive strategies;strategic choice of firms;Strategic Management;environmental analysis and strategy;mutual company business structures
難易度：4 - Undergraduate/MBA
內容長度：15 頁
地域：Jamaica
產業：Finance and Insurance
事件年度：2020
In 2012, the Jamaican economy was in a crisis. It had an estimated debt-to–gross domestic product ratio of 147 per cent. To alleviate the crisis, the Jamaican government signed both an extended fund facility for US$948 million, in 2013, and a precautionary stand-by arrangement for US$1.64 billion, in 2016, with the International Monetary Fund (IMF). As a condition of the IMF loan, the Jamaican government agreed to an economic reform agenda with requirements that included the harmonization of prudential standards across all deposit-taking institutions (DTIs) and consolidated supervision. Consequently, in 2014, the Government of Jamaica passed the Banking Services Act (BSA), which became effective September 30, 2015. Prior to the BSA, the financial services sector was fragmented. Banks and DTIs were regulated by the Bank of Jamaica (BoJ), Jamaica’s central bank; building societies, though supervised by the BoJ, were governed by the Building Societies Act, while credit unions were self-regulated through the Jamaica Co-operative Credit Union League.
In December 2020, Courtney Campbell was the chief executive officer of the Victoria Mutual Building Society (VMBS), a mutual company (i.e., a company owned by its depositors). He had to decide on the future direction of the company under the new regulations and the pending implementation of new measures. The decision came at a time of great external uncertainty, as COVID-19 was still ravaging the world and there was no vaccine yet approved.
教學手冊：Victoria Mutual Building Society: Taking Stock - Teaching Note
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