Which bank is our £600m in?

Friday 10th October 2008, 3:00PM BST.

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.

1
Keith

October 10, 2008 at 4:46 pm

They are treating us like mushrooms, (yet again). We already know billions is leaving the Island for Switzerland anyhow this week. Also with these markets, how mcuh further has the States final salary scheme sunk into the red this week I wonder?

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2
Mike

October 10, 2008 at 10:41 pm

Dont worry frank said it will be all right !!!!!!!

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