Committee for Economic Development - P.2017/68
The States are asked to decide:-
Whether, after consideration of the Policy Letter entitled 'Guernsey banking deposit compensation scheme availability of states' loan facility' dated 27th July 2017, they are of the opinion:-
1. To direct the Policy & Resources Committee to make available an on demand facility of £15 million in favour of the Guernsey Banking Deposit Compensation Scheme Board, on such terms as the Policy & Resources Committee may agree with the Board.
2. To authorise the Policy & Resources Committee, at its discretion, following receipt of a written request from the Guernsey Banking Deposit Compensation Scheme Board, to make available a facility of a maximum amount of £57 million on such terms as the Policy & Resources Committee shall agree with the Board.
The above Propositions have been submitted to Her Majesty's Procureur for advice on any legal or constitutional implications in accordance with Rule 4(1) of the Rules of Procedure of the States of Deliberation and their Committees.
