Guidance Note: Validation and verification of the '11.1 Liquidity - Cashflows' Sheet (September 2019)

Summary

This is a highly technical JFSC guidance note explaining the automated validation and verification checks built into the '11.1 Liquidity - Cashflows' sheet of the prudential reporting return submitted by Overseas Incorporated Businesses (OIBs). It does not create new policy requirements but documents how the JFSC's system checks the data entered before a submission is accepted.

• Data input validation: Each cell where data entry is expected (or should be left blank) is checked to ensure it is a whole number within the range -1,000,000,000 to +1,000,000,000 (representing up to plus or minus 1 trillion in units of 1,000), or is left blank where required.
• Calculated fields: Certain cells are auto-calculated (e.g. percentages of total deposits, running totals) using formulas referencing other cells and other sheets such as '8.3 Total Deposits' and '2.6 Liquidity Summary'.
• Logical (cross-check) tests: Sums of data entry columns for each maturity band and category must reconcile with corresponding totals on the '2.6 Liquidity Summary' sheet; failures are highlighted in red in the template with an explanatory comment box.
• Submission process: Submitting the template to the JFSC triggers these checks; if all checks pass the submission is accepted and the OIB is notified, along with any warnings generated.

Each check has a unique identifier ('Check' number) that appears in any error message, allowing the OIB to match the message to the relevant row in this guidance note and correct the underlying data before resubmission.

Key obligations

• OIBs must ensure that data entered into the '11.1 Liquidity - Cashflows' sheet consists of whole numbers within the permitted range (-1,000,000,000 to +1,000,000,000) or is left blank where the template requires it.
• OIBs must ensure that the sums of data entry columns for each item/maturity band reconcile with the corresponding totals on the '2.6 Liquidity Summary' sheet before submission will be accepted.
• OIBs should independently check their own data prior to submission, as Excel's built-in validation is not a failsafe.

Applies to

OIBs (Overseas Incorporated Businesses subject to JFSC prudential reporting requirements)