GN-JIBs-25: Validation and verification of the '2.5 Profit and Loss' Sheet

Summary

This guidance note explains the automated validation and verification checks that run when a JIB (Jersey international bank) submits the '2.5 Profit and Loss' sheet as part of the JFSC's prudential reporting template. It sets out the built in Excel data restrictions, the checks the JFSC performs on submission, and the calculation formulas used to derive certain cells.

• Input restrictions: Monetary amount cells only accept whole numbers between -1,000,000,000 and +1,000,000,000 (representing up to +/- 1 trillion pounds given the £1,000 unit), unless otherwise noted.
• Excel limitations: Excel only validates data on direct manual entry or when manually triggered, so it is not a failsafe; JIBs must check their own data before submission.
• JFSC submission checks: When the template is submitted, the JFSC runs its own checks; if all pass, the submission is accepted and the JIB is notified, along with any warnings.
• Error identification: Each validation test has a unique 'Check' number that appears in any failure message, allowing the recipient to match the error to the relevant item in this guidance.
• Calculated fields: Certain cells (e.g. A.1.1, A.1, A.2, A.3, A.0, B.0, C.0, D.0, E.0) are auto-calculated via specified Excel formulas rather than manually entered, and are checked accordingly.

The note is purely technical and procedural: it does not create new reporting obligations beyond the existing prudential reporting framework for JIBs, but clarifies how data will be validated and what error messages mean.

Key obligations

• JIBs should check their own profit and loss data for accuracy before submitting the '2.5 Profit and Loss' sheet, since Excel's built-in validation is not a failsafe.
• Monetary entries in the template must be whole numbers within the range -1,000,000,000 to +1,000,000,000 (in £1,000 units), unless otherwise noted.

Applies to

JIBs (Jersey international banks)