The Jersey Resolution Authority (JRA) has issued the following Consultation Paper and associated draft Policy Statement in relation to the JRA’s Approach to Resolution Planning and Resolvability.  

The draft Policy Statement provides a framework by which the JRA will assess resolvability of Jersey Banks and thereby sets out the overriding requirements that the JRA expects Jersey Banks to be able to demonstrate.  Given the nature of Jersey’s Banking industry, these requirements vary depending on whether the Jersey Bank is structured as a Jersey Incorporated Bank (a Subsidiary) or a Jersey Branch of an Overseas Incorporated Bank (a Branch), with reduced requirements for Branches.  Most requirements apply to Jersey Banks that the JRA has identified as performing Critical Functions in Jersey.  However, some requirements apply to all Jersey Banks or only to those that do not perform Critical Functions in Jersey.  

Comments are requested by no later than 2 June 2023.  Comments should be made in writing, by email to info@jra.org.je

Consultation Paper 2023/01: JRA's Approach to Resolution Planning and Resolvability

Draft Policy Statement 2023/01: Resolution Planning and Resolvability