| Department | Department for the Economy |
|---|
| Start date | 29/02/2024 |
|---|
| End date | 29/03/2024 |
|---|
| Type of consultation | White paper |
|---|
| Deadline for comments | 29/03/2024 |
|---|
About the consultation
We want your views on plans to transfer the functions of the
Jersey Bank Depositors Compensation Scheme (“the DCS Board”) to the
Jersey Resolution Authority.
We are proposing an amendment to the
Bank (Recovery and Resolution (Jersey) Law 2017 (the “Resolution Law”) to transfer the functions of the DCS Board and necessary legislation establishing the Jersey Bank Depositors Compensation Scheme (“the Scheme”) currently contained in the
Banking Business (Depositors Compensation) (Jersey) Regulations 2009.
We are also consulting on further proposals to:
- make necessary changes to the DCS legislation to support the effective delivery of the Scheme
- make necessary amendment to Article 72 of the Resolution Law to reflect its intended scope and to allow for effective application
We are not currently consulting on adjustments to the protected deposit value, adjustment to the liability cap or revisions to the eligible depositor definition.
We intend to transfer these functions by 1 January 2025.
Ahead of publication of this consultation, we have worked with representatives of the JRA, DCS and JFSC to inform the proposal.
Consultation: Transfer of the Jersey Bank Depositors Compensation Scheme
How to submit comments to the consultation
The questions set out in the consultation document are repeated in the survey:
Complete the Jersey Bank Depositors Compensation Scheme consultation
You can also submit your response:
- by email to
Economy@gov.je
- by post to: FAO Thomas Wright, Associate Director of Financial Services, Department for the Economy, 19-21 Broad Street, St Helier, JE2 3RR
Data Protection
The information you provide will be processed in compliance with the Data Protection (Jersey) Law 2018.
Find more information in the
Department for the Economy Privacy Notice.
The Government of Jersey may quote or publish responses to this consultation but will not publish the name and addresses of individuals without consent.
Types of publishing may include:
- sending to other interested parties on request
- sending to the Scrutiny Office
- quoting in a published report
- reporting in the media
- publishing on the Government website
- listing on a consultation summary
Confidential responses will still be included in any summary of statistical information received and views expressed.
Under the Freedom of Information (Jersey) Law 2011, information submitted to this consultation may be released if a Freedom of Information request requires it, but no personal data may be released.
gov.je