Industry feedback supports updates to our bank licensing policy
We have published our feedback statement and revised bank licensing policy following consultation on phase one updates to our bank licensing framework.
Feedback was broadly supportive of the proposed changes, which simplify and modernise the policy while maintaining Jersey's strong prudential standards. The updates include removing the top 1,000 bank restriction for banking group applicants, introducing a clearer framework for start-up banks and removing outdated or duplicated requirements.
The changes support a clear and proportionate licensing framework while maintaining appropriate safeguards for financial stability, depositor protection and Jersey's reputation as a well-regulated international finance centre.
Next steps
The revised bank licensing policy has now been published alongside our feedback statement.
We will continue to engage with industry as we develop future enhancements to Jersey's banking framework and improve supporting guidance, processes and information where needed.
View the revised bank licensing policy
Contact us
Contact our Policy team if you have any questions or feedback.