The Bank of Jamaica has closed subscriptions to the variable rate Certificate of Deposit, Series D, issued last week.

The central bank withdrew the CD from the market Monday, saying it had served its purpose.

"The instrument assisted the bank's liquidity management operations during the offer period and engendered relatively stable financial market conditions," said a short statement from the BOJ.

The CD went on sale last Wednesday with an announcement by the BOJ that the subscription would have remained open until further notice.

Usually, the subscription periods are specified.

The central bank since January has issued three such instruments, alongside its regular 30 to 180 CD's to primary dealers and commercial banks.