Policy Statement 2023/01 'Resolution Planning and Resolvability'
This Policy Statement sets out the JRA’s approach to resolution planning and resolvability assessments. It provides a common risk-based approach (a Resolution Framework) whilst also allowing flexibility to reflect the specific circumstances of each Jersey Bank. The Policy Statement sets out clear expectations of the capabilities the JRA requires Jersey Banks to develop to demonstrate that they are resolvable.
Policy Statement 2023/01 'Resolution Planning and Resolvability'
Note: On 29 February 2024 we updated Policy Statement 2023/01 to amend the definition of Critical Shared Services as set out in our Feedback Paper on Consultation Paper 2023/02 'Operational Continuity in Resolution and Communication Planning Guidance Notes'. No other amendments were made.
Operational Continuity in Resolution
This Guidance Note sets out guidance for Jersey Banks in respect of implementing appropriate systems, policies, and procedures to meet requirements in relation to Operational Continuity in Resolution (OCiR). It also provides a OCiR Reporting Template for use by Jersey Banks when performing self-assessments against OCiR requirements and guidance on completing said template. Whilst the Guidance Note is relevant to all Jersey Banks, the OCiR Reporting Template is only required in relation to self-assessments by Jersey Banks that the JRA has identified as performing Critical Functions in Jersey.
Communication Planning
This Guidance Note sets out guidance for Jersey Banks in respect of communication planning requirements set out in Policy Statement 2023/01 'Resolution Planning and Resolvability'.
Further Guidance
We plan to develop further guidance notes in line with our planned three year roll out of Jersey's Resolution Regime set out in Policy Statement 2023/01 'Resolution Planning and Resolvability'.