{
  "title": "Jersey: Financial Sector Assessment Program Update: Financial System Stability Assessment",
  "publication": "IMF Staff Country Reports, September 14, 2009",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/jersey-financial-sector-assessment-program-update-financial-system-stability-assessment-23273",
  "canonical": "https://www.imf.org/en/publications/cr/issues/2016/12/31/jersey-financial-sector-assessment-program-update-financial-system-stability-assessment-23273",
  "overlayPath": "/en/publications/cr/issues/2016/12/31/jersey-financial-sector-assessment-program-update-financial-system-stability-assessment-23273/index.md",
  "summary": "This paper examines the Financial System Stability Assessment on Jersey. Most banks in Jersey are branches or subsidiaries of large international groups, to which they provide financing.",
  "sections": [
    {
      "heading": "Main findings",
      "content": "- Most banks in Jersey are branches or subsidiaries of large international groups, to which they provide financing.\n- The close relationship between Jersey banks and their parent international groups reduces risk in normal times, given the groups’ ability to support their Jersey operations.\n- The Jersey Financial Services Commission has significantly reformed the regulatory framework of funds, mainly to make Jersey funds more attractive to institutional investors.\n- A key challenge in insurance supervision is to maintain effective and proportionate regulation of a small sector with limited insurance risk."
    },
    {
      "heading": "Analysis and implications",
      "content": "- Banking structure: the dominance of branches and subsidiaries of large international groups implies that systemic stability is closely linked to the financial health and support capacity of parent groups.\n- Fund sector reforms: regulatory changes aim to enhance Jersey’s competitiveness for institutional investment, suggesting a strategic focus on fund attractiveness and alignment with investor expectations.\n- Insurance supervision challenge: supervisory frameworks must balance effectiveness and proportionality given the small size and limited risk profile of the local insurance sector."
    },
    {
      "heading": "Thematic subjects and keywords",
      "content": "- Subjects: Banking; Economic sectors; Financial institutions; Financial sector; Financial Sector Assessment Program; Financial sector policy and analysis; Financial services; Insurance companies; Loans\n- Keywords: bank DCS; bank insolvency regime; bank loan; CR; credit risk; Financial sector; Financial Sector Assessment Program; funding gap; funding gap.; Global; Insurance companies; ISCR; Jersey affiliate; Jersey bank; Jersey subsidiary; Loans; Middle East; No. bank; parent bank; pound sterling; risk model; yield curve\n\nInternational Monetary Fund. Jersey: Financial Sector Assessment Program Update: Financial System Stability Assessment.\n\n---\n\n Content in this bundle\n\n- cr09282\n  - cr09282 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr09282 (PDF){rel=\"external\" type=\"application/pdf\"}"
    }
  ],
  "bullets": [
    "[Markdown version](/en/publications/cr/issues/2016/12/31/jersey-financial-sector-assessment-program-update-financial-system-stability-assessment-23273/index.md)",
    "[Structured JSON version](/en/publications/cr/issues/2016/12/31/jersey-financial-sector-assessment-program-update-financial-system-stability-assessment-23273/index.json)",
    "[Bundle manifest](/en/publications/cr/issues/2016/12/31/jersey-financial-sector-assessment-program-update-financial-system-stability-assessment-23273/bundle-manifest.json)",
    "Published: September 14, 2009",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781451820256.002",
    "Most banks in Jersey are branches or subsidiaries of large international groups, to which they provide financing.",
    "The close relationship between Jersey banks and their parent international groups reduces risk in normal times, given the groups’ ability to support their Jersey operations.",
    "The Jersey Financial Services Commission has significantly reformed the regulatory framework of funds, mainly to make Jersey funds more attractive to institutional investors.",
    "A key challenge in insurance supervision is to maintain effective and proportionate regulation of a small sector with limited insurance risk.",
    "Fund sector reforms: regulatory changes aim to enhance Jersey’s competitiveness for institutional investment, suggesting a strategic focus on fund attractiveness and alignment with investor expectations.",
    "Insurance supervision challenge: supervisory frameworks must balance effectiveness and proportionality given the small size and limited risk profile of the local insurance sector.",
    "Subjects: Banking; Economic sectors; Financial institutions; Financial sector; Financial Sector Assessment Program; Financial sector policy and analysis; Financial services; Insurance companies; Loans",
    "Keywords: bank DCS; bank insolvency regime; bank loan; CR; credit risk; Financial sector; Financial Sector Assessment Program; funding gap; funding gap.; Global; Insurance companies; ISCR; Jersey affiliate; Jersey bank; Jersey subsidiary; Loans; Middle East; No. bank; parent bank; pound sterling; risk model; yield curve",
    "**_cr09282**"
  ],
  "related": [
    {
      "title": "_cr09282",
      "role": "document",
      "sourceUrl": "https://www.imf.org/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2009/_cr09282.pdf",
      "summary": {
        "path": "/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2009/_cr09282.pdf.md",
        "mime": "text/markdown"
      },
      "binary": {
        "path": "/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2009/_cr09282.pdf",
        "mime": "application/pdf"
      }
    }
  ],
  "alternates": {
    "markdown": "/en/publications/cr/issues/2016/12/31/jersey-financial-sector-assessment-program-update-financial-system-stability-assessment-23273/index.md",
    "json": "/en/publications/cr/issues/2016/12/31/jersey-financial-sector-assessment-program-update-financial-system-stability-assessment-23273/index.json",
    "bundleManifest": "/en/publications/cr/issues/2016/12/31/jersey-financial-sector-assessment-program-update-financial-system-stability-assessment-23273/bundle-manifest.json"
  },
  "generatedAtUtc": "2026-09-13T05:12:28.08Z"
}