Guidance Note - Validation and verification of the '9.8 Local Interbank Market' Sheet (JIBs 9.8)

Summary

This is a technical guidance note from the JFSC explaining the validation and verification checks that run when a Jersey Interbank (JIB) submits the '9.8 Local Interbank Market' sheet of its prudential reporting template. It is a reference document for completing that specific sheet correctly, not a policy or licensing requirement.

• Data entry checks: Sets out per cell validation rules for the sheet, such as currency fields requiring a 3 digit ISO code and monetary fields requiring whole numbers within the range minus 1,000,000,000 to plus 1,000,000,000 (in units of 1,000 pounds).
• Submission process: Excel validation is not a failsafe; on submission the JFSC runs its own checks and, if passed, confirms acceptance to the JIB along with any warnings.
• Calculation checks: Explains automated summation checks, for example that the totals in row 9 (Placed with and Received from) must equal the sum of the individual currency rows above them.
• Error reference: Each check has a unique identifier included in any failure message so the JIB can match the error to the relevant row in this guidance note.

The note is purely explanatory: it documents how the reporting template checks itself and how the JFSC verifies submissions, rather than creating new substantive obligations beyond accurate and correctly formatted completion of the existing prudential return.

Key obligations

• When completing the '9.8 Local Interbank Market' sheet, JIBs must enter currency codes as 3 digit ISO codes
• Monetary amounts entered on the sheet must be whole numbers within the range -1,000,000,000 to +1,000,000,000 (units of £1,000)
• JIBs should check their own data for accuracy before submission, since Excel validation alone is not a failsafe

Applies to

Jersey Interbank (JIBs) / banks subject to JFSC prudential reporting