States Treasury’s credit risk to be reviewed by finance firm
Monday 5th November 2012, 3:00PM GMT.
THE States Treasury has appointed a local finance group for the first time to assess and monitor how well it protects the Island’s assets.
The initial reports prepared by the Enhance Group show that the Treasury is doing an encouraging job at looking after taxpayers’ cash.
Enhance, which operates in ten locations around the world and has £9 billion under administration, has been appointed to review the Treasury’s bank limit list to assess potential credit risk.
States Treasurer Laura Rowley said the fact that there were now local businesses of sufficient calibre and competence to undertake a project of such scale was a reflection of the strength of the Island’s stringent financial regulatory systems.