Guidance Note: Validation and verification of the '2.4 Off Balance Sheet' Sheet (September 2019)

Summary

This guidance note explains the automated validation and verification checks that run when an Overseas/Other International Business (OIB) submits the '2.4 Off Balance Sheet' sheet of its prudential return to the JFSC. It sets out the input restrictions built into the Excel template and the calculation checks the JFSC applies on submission, so that OIBs can understand and pre-empt any error or warning messages they receive.

• Input range limit: Monetary amount cells only accept whole numbers between -1,000,000,000 and +1,000,000,000 (in units of £1,000, i.e. up to +/- £1 trillion), unless otherwise noted.
• Excel checks are not a failsafe: Excel only validates on direct manual input, so OIBs are expected to check their own data before submission; the JFSC also checks data upon submission.
• Submission process: Submitting the template triggers the JFSC's checks; if all checks pass, the submission is accepted and the OIB is notified along with any warnings.
• Data input validation (Section 2): Nineteen specific cells across items A.1 to A.11, B.1 to B.5, C.1 to C.2 and D.0 on the '2.4 Off Balance Sheet' sheet must contain a whole number within the stated range.
• Calculation checks (Section 3): Four cells (A.0, B.0, C.0 and E.0) are auto-calculated totals derived by summation formulas from the corresponding input cells.

Each check has a unique identifier referenced in any error message, allowing the OIB to match a failed test to the relevant row in this guidance note and correct the underlying data before resubmission.

Key obligations

• OIBs must ensure monetary entries on the '2.4 Off Balance Sheet' sheet are whole numbers within the range -1,000,000,000 to +1,000,000,000 (unless otherwise noted) before submission.
• OIBs should independently check their own data for accuracy prior to submission, since Excel validation alone is not a failsafe.
• OIBs must submit the completed template to the JFSC to trigger the official validation checks, and address any warnings communicated back upon submission.

Applies to

OIBs (Overseas/Other International Businesses subject to JFSC prudential reporting requirements)