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Increase level of Jersey Currency Notes in Circulation.

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A decision made (17/09/2007) regarding: Increase level of Jersey Currency Notes in Circulation.

Decision Reference: MD-TR-2007-0094

Decision Summary Title:

Increase the level of Jersey Currency Notes in Circulation

Date of Decision Summary:

11th September 2007

Decision Summary Author:

Di Riddett - Head of Financial Processing

Decision Summary:

Public or Exempt?

Public

Type of Report:

Oral or Written?

Written

Person Giving

Oral Report:

N/A

Written Report

Title:

Increase the level of Jersey Currency Notes in Circulation

Date of Written Report:

11th September 2007

Written Report Author:

Di Riddett - Head of Financial Processing

Written Report :

Public or Exempt?

Public


Subject:

Increase the limit of Jersey Currency Notes in Circulation

Decision(s):

The Minister for Treasury & Resources approved an increase in the Jersey Currency Notes Circulation Limit to £100 million, the administration of which would be carried out by the Head of Financial Processing.

Reason(s) for Decision:

Over the past 5 years there has been an average increase of £2.7 million per annum to the levels of Jersey Currency Notes in Circulation and if trends continue the Treasury & Resources Department will exceed the agreed limit of £75 million. (please see attached document)

Resource Implications:

There are no changes to resource requirements.


Action required:

Head of Financial Processing to make the necessary arrangements to administer the Jersey Currency Notes in circulation following this decision.
 

Signature:

Position: Senator Terry Le Sueur, Treasury and Resources Minister

Date Signed: 17th September 2007

Date of Decision: 17th September 2007

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