03 October 2008
Discussions are continuing on how best to protect island residents who are understandably concerned about the safety of the deposits they have placed with banks in the island. In undertaking these discussions the Jersey authorities are consulting with their Guernsey colleagues.
A full statement will be made when these discussions are concluded.
The Chief Minister, Senator Frank Walker, said “This is an extremely complex issue and it is vital that we are not rushed into putting forward anything other than a robust and supportable scheme.
“As I have said previously, the Jersey authorities are very confident in the strength of the banking system in the island, as the banks which operate here are branches or subsidiaries of parent banks that are in the world's top 500, and whose home countries, almost without exception, have pledged to support them.
Jersey resident depositors should take great comfort from this and from the fact that we are determined to take whatever steps are necessary to ensure they are protected. A major review into a long term scheme which protects the interests of depositors generally has already been announced.”
ends
gov.je