Guidance Note: Validation and verification of the '7.1 IRRBB - Summary' Sheet (JIBs) (March 2019)

Summary

This is a technical guidance note explaining the validation and verification checks the JFSC runs on the '7.1 IRRBB - Summary' sheet of the JIBs prudential reporting template (the Jersey International Banks return). It describes the data entry limits built into the Excel template and how errors or warnings are communicated when a JIB submits the return.

• Input limits: Monetary amount cells only accept integers between -1,000,000,000 and +1,000,000,000, denominated in units of £1,000 (so up to +/- £1 trillion), unless otherwise noted.
• Excel validation is not a failsafe: Built-in Excel checks only run on direct manual input, so JIBs must independently check their own data before submission; the JFSC also runs its own checks on submission.
• Submission process: Submitting the template triggers the JFSC's validation checks; if all checks pass, the submission is accepted and the JIB is notified together with any warnings.
• Calculation checks: Section 2 lists specific cell-level calculation checks (Checks 1 to 6) confirming that VaR figures in the Summary sheet correctly pull from and sum the corresponding cells in the Accounting Currency, Major 1, Major 2, Major 3 and Minor currency sheets.
• Error messages: When a check fails, the JIB receives a message referencing a unique Check identifier that can be matched against this guidance note to identify the issue.

Key obligations

• JIBs should independently check their submitted data rather than relying solely on Excel's built-in validation, which only checks direct manual input.
• Monetary amount entries in the '7.1 IRRBB - Summary' sheet must fall within the permitted range (-1,000,000,000 to +1,000,000,000, in units of £1,000) unless otherwise noted.
• JIBs must submit the template to the JFSC to trigger the validation checks and must resolve any failed checks identified by the referenced Check number.

Applies to

JIBs (Jersey International Banks) subject to JFSC prudential reporting requirements