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 * Home
 * What we do & why
 * How resolution works
 * Policy and Guidance
 * Consultations
 * Who the JRA works with
 * How we are funded
 * Meet the team
 * Resources
 * News
 * Contact


JERSEY RESOLUTION AUTHORITY

Responsible for minimising the impact of a bank failure in the island and
ensuring public funds are protected



Get in touch

 * Home
 * What we do & why
 * How resolution works
 * Policy and Guidance
 * Consultations
 * Who the JRA works with
 * How we are funded
 * Meet the team
 * Resources
 * News
 * Contact

Home


JERSEY RESOLUTION AUTHORITY


THE JRA IS AN INDEPENDENT BODY ESTABLISHED ON 31 JANUARY 2022 BY BANK (RECOVERY
AND RESOLUTION) (JERSEY) LAW 2017. IT PLAYS A KEY ROLE IN UPHOLDING JERSEYS
STATUS AS A LEADING INTERNATIONAL FINANCE CENTRE BY:

Reducing the risk of financial loss due to bank failure. The JRA sets the
strategic direction of work on bank resolution, oversees the exercise of its
legal duties and obligations, and helps raise the international profile of
Jersey among international counterparts.

The JRA sets the strategic direction of work on bank resolution, oversees the
exercise of its legal duties and obligations, and helps raise the international
profile of Jersey among its international counterparts.

Protecting and enhancing the reputation and integrity of Jersey

It also prepares for and administers the resolution of banks (bank failure).

Considering the best economic interest of Jersey

Most Jersey Banks are part of banking groups that are either designated Global
Systemically Important Banks or Domestic Systemically Important Banks in their
home jurisdictions. Accordingly, the JRA’s approach to resolution planning
reflects that most Jersey Banks are subject to resolution planning at a group
level.

Mission



JRA MISSION AND STRATEGY 2024 TO 2026



Our mission remains to operate a robust and credible recovery and resolution
regime to manage bank failure effectively, reduce the risk to the public of
financial loss, and protect the Jersey economy.

Our strategic objectives underpin the JRA’s core purpose and set the focus for
delivery of our Mission:

 * Develop effective strategic relationships with our key stakeholders
   (especially international regulators, Jersey’s banks, the Jersey Financial
   Services Commission, and the Government of Jersey).
 * Develop and maintain Jersey’s Resolution Framework, where appropriate in line
   with international standards and developments.  
 * Ensure each bank in Jersey has recovery (where required) and resolution plans
   for its Jersey-domiciled activities, which we regard as effective and
   credible (with a definite plan to address any barriers to resolution).  
 * Develop and maintain fit for purpose governance and operating frameworks
   including processes, systems, and people. 



Find out more in respect of our mission and strategic goals in our JRA Strategy
2024 – 2026 document.






Our previous strategy documents are available below:

JRA Mission and Strategy 2022 - 2023.

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