Guidance Note - Validation and verification of the '5.1 FX & Gold' Sheet (JIBs prudential reporting) (2018-12)

Summary

This guidance note explains the automated validation and verification checks that the JFSC runs on the '5.1 FX & Gold' sheet of the JIBs (Jersey International Banks) prudential reporting template when it is submitted. It is a technical reference document, not a new policy requirement, setting out exactly which cells are checked, what values are permitted, and the error messages a submitter will see if a check fails.

• Input range checks: Monetary amount cells (e.g. Balance Sheet Assets/Liabilities, Forward Gross Purchases/Sales) must contain whole numbers between -1,000,000,000 and +1,000,000,000 (units of GBP 1,000, i.e. up to +/- GBP 1 trillion).
• Mandatory blank cells: Certain rows (items A.10, A.0 and D.0) have designated cells that must be left blank; data entered there will fail validation.
• Calculated fields: Spot Net, Forward Net and Total columns are auto-calculated by formula (e.g. Net = Assets minus Liabilities; Total = Spot Net plus Forward Net) and are checked against these formulas rather than manually entered.
• Excel validation is not a failsafe: Built-in Excel data validation only triggers on direct manual input, so JIBs are expected to independently check their data before submission; the JFSC also re-checks all data upon submission.
• Submission outcome: If all checks pass, the JFSC accepts the submission and communicates this to the JIB along with a list of any warnings generated.

Each check is identified by a unique reference number matching the error/warning message returned, allowing a JIB to trace a failed validation back to the specific row, column and cell described in this guidance.

Key obligations

• JIBs should independently verify their own FX & Gold sheet data for accuracy before relying on Excel's built-in validation, as it is not a failsafe.
• Monetary entries in the specified cells must be whole numbers within the range -1,000,000,000 to +1,000,000,000.
• Designated cells for items A.10, A.0 and D.0 must be left blank and not populated with data.

Applies to

JIBs (Jersey International Banks)