No commercial bank failed in Jamaica during his nearly seven years at the helm of the Bank of Jamaica (BOJ), outgoing Governor Richard Byles told Parliament's Standing Finance Committee on Wednesday — a record he set against a backdrop of local and global shocks.

"Despite profound international disruptions in recent years, we have had no bank failure in Jamaica," Byles said about the eight commercial banks. "We do not take this fact for granted.”

Comparatively, he said the Federal Deposit Insurance Corporation of the United States reports that there have been “19 bank failures” in the United States over the seven years, 2019 to 2026.