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

Bank (Recovery and Resolution) (Jersey) Law 201-: Consultation

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A decision made 17 March 2016:

Ministerial decision reference    MD-C-2016-0033

Decision summary title   Consultation on Bank Resolution Regime

Decision summary author

Director, Finance Industry Development, Financial Services Unit

Is the decision summary public or exempt? 

Public

Report title:   Public Consultation on Bank (Recovery and Resolution) (Jersey) Law 201-

 

Report author or name of

person giving report

N/A

Is the report public or exempt?

N/A

Decision and reason for the decision

The Assistant Chief Minister acting under delegated powers from the Chief Minister approved the commencement of a consultation on the draft Bank (Recovery and Resolution) (Jersey) Law 201-  setting out a regime for bank insolvency and resolution following the development of the Law and following discussion with the Bank Resolution Steering Group.  The reason is to match international standards in this area.

Resource implications

There are no resource implications for the States of Jersey. 

Action required

The Director, Finance Industry Development, Financial Services Unit to take steps to issue the consultation paper and to lay such before the States as an ‘R’ paper. 

Signature

 

 

 

 

 

Position

 

Senator P F C Ozouf

Assistant Chief Minister

 

 

 

 

 

Date signed

Effective date of the decision

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