Jersey Bank Deposit Compensation Board: Banking Groups Designation

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A decision made 15 July 2015:

MINISTERIAL DECISION REFERENCE: MD-C-2015-0087
DECISION SUMMARY TITLE: Approval of new notice designating banking groups
DECISION SUMMARY AUTHOR:	Director, Finance Industry Development, Financial Services Unit	IS THE DECISION SUMMARY PUBLIC OR EXEMPT?		Public
REPORT TITLE: Report to notice designating banking groups
REPORT AUTHOR OR NAME OF PERSON GIVING REPORT: (if different from Decision Summary Author)	Director, Finance Industry Development, Financial Services Unit	IS THE REPORT PUBLIC OR EXEMPT		Public
DECISION AND REASON FOR THE DECISION: Acting under delegated powers from the Chief Minister who is carrying out the functions of the Jersey Bank Deposit Compensation (the “Board”), the Assistant Chief Minister approved the banking groups and requested the publication of a notice on the website of the Jersey Bank Depositors Compensation Board (the “Board”) and the States of Jersey. The Jersey Financial Services Commission has agreed that the following banking groups and their successors in title are the current banking groups operating in Jersey: HSBC Bank International Limited HSBC Bank Middle East Limited HSBC Bank Plc, Jersey Branch Lloyds Bank Plc, Jersey Branch Lloyds Bank International Limited Barclays Bank Plc, Jersey Branch Barclays Private Clients International Limited, Jersey Branch National Westminster Bank Plc The Royal Bank of Scotland International Limited The Royal Bank of Scotland Plc Citibank (Channel Islands) Limited Citibank N.A., Jersey Branch Citicorp Banking Corporation, Jersey Branch Abbey National International Limited Santander UK plc, Jersey Branch BNP Paribas S.A, Jersey Branch BNP Paribas Securities Services S.C.A, Jersey Branch The Minister has the power to group banks and the reason for the Decision is that the existing list and notice needs updating.
RESOURCE IMPLICATIONS: There are no resource implications.
ACTION REQUIRED: The Assistant Chief Minister approved the notice of the designation of banks and requested officers to make the necessary arrangements to publish the notice on the relevant websites.
SIGNATURE:			POSITION: SENATOR P.F.C. OZOUF ASSISTANT CHIEF MINISTER OF JERSEY

DATE SIGNED			EFFECTIVE DATE OF THE DECISION