Guidance Note: Validation and verification of the '3.9 SAC Summary' Sheet (GN JIBS 39) (2019-02)

Summary

This guidance note explains the automated validation and calculation checks that the JFSC runs on the '3.9 SAC Summary' sheet of the standardised approach to credit risk prudential reporting template used by Jersey International Banks (JIBs). It sets out which cells must be left blank, which cells are calculated by formula from other sheets, and how error or warning messages relating to failed checks correspond to the numbered 'Check' references in this note.

• Data entry checks: Certain cells (e.g. RWAs in row 15, column P) must be left blank; entering data there triggers a validation failure.
• Calculation checks: Numerous cells in the summary sheet are populated by formulas that pull or sum figures from other sheets (3.1 SAC BS, 3.2 SAC OBS, 3.3 to 3.7 OTC sheets, 3.8 SAC Netted Exposures); the note lists the exact formula expected in each cell.
• Submission process: Submitting the template to the JFSC automatically triggers these checks; if all pass, the submission is accepted and the JIB is notified together with any warnings.
• Excel limitations: Built in Excel data validation only restricts monetary cells to integers between -1,000,000,000 and +1,000,000,000 (in units of £1,000) and only checks on direct manual input, so it is not a substitute for the JIB's own data checks.

The February 2019 revision corrected the Excel formula reference shown for Check 13 (cell D8) only; no other substantive changes were made.

Key obligations

• JIBs should check their own data for accuracy before submission, as Excel validation alone is not a failsafe.
• Cell D15 (RWAs, column P) on the 3.9 SAC Summary sheet must be left blank.
• Calculated cells on the 3.9 SAC Summary sheet must reflect the exact formulas specified (linking to the 3.1 through 3.8 sheets) so that automated checks are passed on submission.

Applies to

Jersey International Banks (JIBs)