We have published our feedback in respect of our Consultation Paper CP2024/03 ‘Restructuring and Management and Governance Guidance Notes’.

As set out in our Feedback Paper, we received written responses from five Jersey Banks with respect to our draft Management and Governance Guidance Note and from two Jersey Incorporated Banks with respect to our draft Restructuring Guidance Note.  Most respondents were supportive of our proposed guidance.  In some cases, respondents made observations or requested further clarification on aspects of the Guidance Notes.  These have been addressed either within the Feedback Paper or by way of amendments in the draft Guidance Notes.  

The Feedback Paper includes a tracked change versions of the Guidance Notes so that Jersey Banks can easily identify the amendments made.  

Since these documents are Guidance Notes and the associated requirements were published in Policy Statement 2023/01 'Resolution Planning and Resolvability' in August 2023, we have not amended the timelines by which Jersey Banks are required to submit self-assessments in respect of Restructuring and Management and Governance; both of which are due by 30 June 2025.  Any Jersey Bank that believes it may not be able to meet this deadline should notify the JRA of this as soon as possible.  

We remind Jersey Banks that Policy Statement 2023/01 allows Jersey Banks to propose alternative approaches to address the respective Risks to Resolution.  If necessary, we recommend that Jersey Banks engage with us as early as possible in respect of any such alternative approaches they intend to propose.

Further enquiries in relation to the Feedback Paper or the Guidance Notes should be directed to Edmore Murungu, Resolution Officer (e.murungu@jra.org.je)

Feedback Paper on Consultation Paper CP2024/03 ‘Restructuring and Management and Governance Guidance Notes’

Final Restructuring Guidance Note - clean

Final Restructuring Guidance Note - tracked changes

Final Management and Governance Guidance Note - clean

Final Management and Governance Guidance Note - tracked changes