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Government of Jerseygov.je

Information and public services for the Island of Jersey

L'înformâtion et les sèrvices publyis pouor I'Île dé Jèrri

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Banks used by States of Jersey (FOI)

Banks used by States of Jersey (FOI)

Produced by the Freedom of Information office
Authored by States of Jersey and published on 12 September 2016.

​​Request

Can you tell me who the States of Jersey bankers are? Hopefully I have phrased this correctly, if not maybe which establishment handles the monetary funds of the States of Jersey.

Response

The States of Jersey employs a number of providers to deal with their monetary funds. 

Day-to-day transactions are dealt with by HSBC, which holds cash required by the States of Jersey for daily transactions. 

Cash in excess of this daily requirement is moved from HSBC to the States Cash Manager, Royal London Asset Management (RLAM). 

RLAM operates a mandate requiring them to place this cash across a number of high credit rated institutions as part of the States risk management process. 

There are a small number of cash transactions that fall outside of this arrangement, for example, where a separate fixed deposit is required to segregate a cash holding for a specific purpose.

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