Guidance Note GN JIBS 9.2 - Validation and verification of the '9.2 Parent Accounts' Sheet (July 2019)

Summary

This is a technical guidance note issued by the JFSC explaining the validation and verification checks applied to the '9.2 Parent Accounts' sheet within the JIBs (Jersey International Business? - JIB prudential returns) reporting template. It sets out the data entry rules, permitted numeric ranges, and calculation checks that will be run when a Jersey International Bank (JIB) submits its prudential return, and lists the specific error/validation messages a JIB will see if a check fails.

• Scope: Applies to JIBs completing the '9.2 Parent Accounts' sheet of the prudential reporting template.
• Data entry validation: Text and value cells for items A.1 through A.8 must either be blank or contain a whole number within a specified range (generally -1,000,000,000 to +1,000,000,000, except Item A.7 which now permits -10,000,000,000 to +10,000,000,000).
• Date fields: Month entries must be between 1 and 12; year entries must be the current year or no more than two years prior.
• Calculation checks: Item A.4.0 is a calculated field equal to the sum of A.4.1 to A.4.3 (cell formula =SUM(D6:D8)).
• Submission process: Submitting the template to the JFSC triggers the validation checks; if all checks pass, the submission is accepted and the JIB is notified, along with any warnings.
• July 2019 revision: The only change from the prior version is widening the validation range for Item A.7 from +/- 1,000,000,000 to +/- 10,000,000,000.

The note is purely explanatory of the Excel-based validation logic and does not itself impose new substantive reporting obligations beyond ensuring data entered conforms to the stated ranges and formats before submission.

Key obligations

• JIBs must ensure data entered in the '9.2 Parent Accounts' sheet falls within the specified validation ranges (e.g. whole numbers between -1,000,000,000 and +1,000,000,000, or -10,000,000,000 to +10,000,000,000 for Item A.7) before submission.
• JIBs must leave certain text cells blank as indicated, and enter month values between 1 and 12 and year values equal to the current year or no more than two years prior where applicable.
• JIBs should check their own data prior to submission, as Excel validation alone is not a failsafe.

Applies to

Jersey International Banks (JIBs)