GN-JIBs-8.2 Loan Security Validation and Verification (March 2019)

Summary

This guidance note explains the validation and verification checks that the JFSC applies to the '8.2 Loan Security' sheet within the prudential reporting template used by Jersey International Banks (JIBs). It sets out the technical checks performed both by Excel and by the JFSC on submission, so that JIBs can understand and avoid common data errors before filing.

• Input validation: Monetary amount cells (e.g. items A.1.1 to A.3) must contain whole numbers within the range -1,000,000,000 to +1,000,000,000, denominated in units of £1,000.
• Calculation checks: Certain cells are automatically calculated (e.g. A.1.0 as the sum of A.1.1 to A.1.3, and A.0 as the sum of A.1.0, A.2 and A.3) and are not for manual entry.
• Logical consistency check: The total in the Loan Security sheet (Sum A) must equal the corresponding total on the '2.1 BS Assets' sheet (Sum B); a mismatch triggers a failed check highlighted in red.
• Submission process: Excel-level validation is not a failsafe since it only checks direct manual input, so JIBs must independently verify their data; the JFSC re-runs checks on submission and will accept the filing with any warnings listed, or reject it if checks fail.

Each check is identified by a unique reference number so that any error message received on submission can be matched back to the relevant guidance in this note.

Key obligations

• JIBs must ensure amounts entered in the 8.2 Loan Security sheet are whole numbers within the range -1,000,000,000 to +1,000,000,000 before submission
• JIBs must independently check their data for accuracy rather than relying solely on Excel's built in validation
• JIBs must ensure the Loan Security sheet total (Sum A) equals the corresponding total on the 2.1 BS Assets sheet (Sum B) before or upon submission

Applies to

JIBs (Jersey International Banks)