GN JIBs 72 - Validation and verification of the '7.2 IRRBB - Accounting Currency' Sheet (March 2019)

Summary

This guidance note is a technical reference for banks (referred to by the JFSC as JIBs) that must submit the '7.2 IRRBB - Accounting Currency' sheet as part of their prudential Interest Rate Risk in the Banking Book (IRRBB) reporting. It sets out, cell by cell, the validation and verification checks the JFSC's system runs when this sheet is submitted, and the exact error or warning messages that will be returned if a check fails.

• Data input validation: Cells where manual entry is expected (or that must be left blank) are checked to ensure only whole numbers within the range -1,000,000,000 to +1,000,000,000 (representing up to +/- GBP 1 trillion, in units of GBP 1,000) are entered across the various maturity bands and balance sheet line items (A.1.x, A.2.x, B.1.x, B.2.x, etc).
• Calculated field checks: Formula-driven cells (sums, totals, and the interest rate shock calculation using fixed percentage weightings per time band, eg -0.08% for Up to 1 Month through -17.84% for Over 10 years) are verified to ensure they reconcile correctly.
• Submission process: On submission, the JFSC's system runs all checks automatically; if all pass, the submission is accepted and the JIB is notified together with any warnings; each check carries a unique reference number matched to the error message received.

The note is purely explanatory and procedural: it does not create new reporting duties beyond the existing IRRBB return requirement, but tells filers exactly how their data will be validated so they can correct errors before or on submission.

Key obligations

• Ensure all monetary amounts entered on the '7.2 IRRBB - Accounting Currency' sheet are whole numbers within the range -1,000,000,000 to +1,000,000,000 before submission
• Check own data prior to submission rather than relying solely on Excel's built in validation, since Excel only validates on direct/manual input
• Review and address any warnings communicated by the JFSC following submission of the sheet

Applies to

JIBs (Jersey banks subject to JFSC prudential reporting requirements)