GN JIBs 86 - Validation and verification of the '8.6 Exempt Large Exposures' Sheet

Summary

This is a technical guidance note issued by the Jersey Financial Services Commission explaining the automated validation and verification checks applied to the '8.6 Exempt Large Exposures' sheet within the JIB (Jersey Income and Balance) prudential reporting template. It is a reference document for reporting entities to interpret error and warning messages generated when submitting this return, rather than a substantive policy or rule change.

• Purpose: Lists each validation check (identified by a unique Check number and item code such as EL.1) applied to cells in the Exempt Large Exposures sheet, covering fields like Facility Amount, Outstanding Amount and Maturity Date.
• Input rules: Monetary amount cells must contain whole numbers within the range minus 1,000,000,000 to plus 1,000,000,000 (in units of GBP 1,000); Maturity Date cells must contain a date between 1 January 2019 and 31 December 2119.
• Process: Excel-level validation is not a failsafe; the JFSC re-runs checks on submission of the template, and accepted submissions are confirmed to the JIB together with any warnings; failed checks return a message referencing the relevant Check number for the reporter to match against this guidance.

The note does not itself create new reporting obligations beyond the existing requirement to submit the JIB return correctly completed; it is explanatory guidance for completing and troubleshooting that specific sheet.

Key obligations

• Jersey International Banks (JIBs) must ensure data entered in the '8.6 Exempt Large Exposures' sheet meets the stated format rules (e.g. whole numbers within specified ranges for monetary fields, valid dates for Maturity Date fields) before or upon submission of the JIB prudential return.
• JIBs should check their own data for accuracy before submission, since Excel's built-in validation is not a failsafe and the JFSC performs its own checks on submission.

Applies to

Jersey International Banks (JIBs)