JERSEY RESOLUTION AUTHORITY
The JRA is an independent body established on 31 January 2022 by Bank (Recovery and Resolution) (Jersey) Law 2017. It plays a key role in upholding Jersey's status as a leading international finance centre by:
Reducing the risk of financial loss due to bank failure.
The JRA sets the strategic direction of work on bank resolution, oversees the exercise of its legal duties and obligations, and helps raise the international profile of Jersey among its international counterparts.
Protecting and enhancing the reputation and integrity of Jersey
It also prepares for and administers the resolution of banks (bank failure).
Considering the best economic interest of Jersey
Most Jersey Banks are part of banking groups that are either designated Global Systemically Important Banks or Domestic Systemically Important Banks in their home jurisdictions. Accordingly, the JRA’s approach to resolution planning reflects that most Jersey Banks are subject to resolution planning at a group level.
JRA Mission and Strategy
2026 will see the JRA take on additional functions relating to the Jersey Bank Depositors Compensation Scheme (JDCS). Accordingly, we have updated our Strategic Framework to reflect our expanded functions. During 2026 we will update our Strategic Framework for the years ahead.
Our mission is to operate a robust and credible recovery, resolution and depositor compensation regime to manage bank failure effectively, reduce the risk to the public of financial loss, and protect the Jersey economy.
Our strategic objectives underpin the JRA’s core purpose and set the focus for delivery of our Mission:
- Develop effective strategic relationships with our key stakeholders (especially international regulators & depositor compensation schemes, Jersey’s banks, the Jersey Financial Services Commission, and the Government of Jersey).
- Develop and maintain Jersey’s Resolution Framework and Depositor Compensation Scheme, where appropriate in line with international standards and developments.
- Ensure each bank in Jersey has recovery (where required) and resolution plans for its Jersey-domiciled activities, which we regard as effective and credible (with a definite plan to address any barriers to resolution).
- Develop and maintain fit for purpose governance and operating frameworks including JDCS payout capabilities, processes, systems, and people.
Our Interim Strategy Update also summarises our key priorities for 2026. Find out more here.
Our previous strategy documents are available below: