Bank failure authority unveiled in Jersey to shore up global reputation

clock • 2 min read
Bank failure authority unveiled in Jersey to shore up global reputation

The new Jersey Resolution Authority (JRA), aimed at minimising the impact of bank failure in the Island and ensuring that public funds are protected, has been formally established. The JRA became an independent legal entity on Monday 31 January, the Jersey Financial Services Commission said in a statement on 1 February. The regulator said it will play a key role in "upholding Jersey's status as a leading international finance centre" by: reducing the risk of financial loss due to ba...

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