Which bank is our £600m in?

Which bank is our £600m in?

From John Fox.

I HAVE to ask the following questions: If our government is now going to guarantee all bank deposits in the Island if the banks fail, where do they keep our money (£600 million)?

Is it in the bank of Jersey not affected by world markets? Is it invested through a bank that may collapse? How much is it worth now the world markets have dropped? Is that money guaranteed by some other institution to Jersey?

By worldwide comparison Jersey’s £600 million does not seem much to £200 billion on deposit in the Island.

Presumably if the banks fail, and there’s no guarantee they will not, Jersey’s States’ money is no safer than mine in a local bank.

Somehow I can’t see the EU or the UK assisting. Maybe I have missed something in the JEP.

Maison Signaux,

Chemin des Signaux,

St Brelade.

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