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<h1 class="text-white nav-title w-full pb-4">Jersey Resolution Authority</h1>
<p class="text-white w-full">Responsible for minimising the impact of a bank failure in the island and ensuring public funds are protected</p>
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<h1 class="tab">JERSEY RESOLUTION AUTHORITY</h1>
<h2 class="lg:text-3xl text-2xl mt-6">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:</h2>
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<strong>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.</strong>
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<p>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.</p>
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<p>
<strong>Protecting and enhancing the reputation and integrity of Jersey</strong>
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<div class="pt-4">
<p>It also prepares for and administers the resolution of banks (bank failure).</p>
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<p>
<strong>Considering the best economic interest of Jersey</strong>
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<p>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.</p>
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<h2><a href="https://jra.org.je/images/documents/20231201-JRA-Strategy-2024-2026-and-2024-Business-Plan-v01.00.pdf" target="_blank" rel="noreferrer noopener">JRA Mission and Strategy 2024 to 2026</a></h2>
<p></p>
<p>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.</p>
<p>Our strategic objectives underpin the JRA’s core purpose and set the focus for delivery of our Mission: </p>
<ul><li>Develop effective strategic relationships with our key stakeholders (especially international regulators, Jersey’s banks, the Jersey Financial Services Commission, and the Government of Jersey).</li><li>Develop and maintain Jersey’s Resolution Framework, where appropriate in line with international standards and developments. </li><li>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). </li><li>Develop and maintain fit for purpose governance and operating frameworks including processes, systems, and people. </li></ul>
<p></p>
<p>Find out more in respect of our mission and strategic goals in our <strong><a href="https://jra.org.je/images/documents/20231201-JRA-Strategy-2024-2026-and-2024-Business-Plan-v01.00.pdf" target="_blank" rel="noreferrer noopener">JRA Strategy 2024 – 2026</a> </strong>document.</p>
<p></p>
<p><br></p>
<p>Our previous strategy documents are available below:</p>
<p><a href="https://jra.org.je/images/documents/JRA-Mission-and-Strategy-2022-2023.pdf" target="_blank" rel="noreferrer noopener"><strong>JRA Mission and Strategy 2022 - 2023</strong></a>.</p>
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