Validation and verification of the '2.3 BS Liabilities' Sheet (September 2019)

Summary

This is a technical guidance note explaining the automated validation and verification checks that the JFSC's prudential reporting template applies to the '2.3 BS Liabilities' sheet, which forms part of the prudential reporting return submitted by Overseas Investment Businesses (OIBs). It does not create new prudential rules but describes the checks OIBs' data will be run against on submission, so they can understand and resolve validation error messages.

• Input validation: Monetary value cells must contain whole numbers within the range -1,000,000,000 to +1,000,000,000 (representing up to +/- GBP 1 trillion at a GBP 1,000 unit), and certain 'Liquidity' column cells (e.g. A.0, B.0, C.7, C.0, D.0, E.0) must be left blank.
• Calculation checks: Certain cells are auto calculated (e.g. subtotal and total sums such as A.0 = SUM(C3:C9), E.0 = SUM(C10,C14,C26,C31)) and liquidity fields cross reference other value cells (e.g. B.9, B.8).
• Logical checks: Two cross sheet consistency checks apply: the sheet's Sum A (C10) must equal the '8.3 Total Deposits' sheet's C13, and Sum A (C32) must equal the '2.1 BS Assets' sheet's C71; failures are highlighted in red with an explanatory comment box.
• Error identification: Each check has a unique numbered identifier so that OIBs can match a failure message received on submission to the relevant test described in this guidance.

OIBs are reminded that Excel's own validation is not a failsafe (it only triggers on direct manual input), so they should verify their own data before submission; the JFSC will independently check the data when the template is submitted and will communicate acceptance together with any warnings.

Key obligations

• OIBs must ensure monetary value cells in the '2.3 BS Liabilities' sheet contain only whole numbers within the range -1,000,000,000 to +1,000,000,000 before submission.
• OIBs must leave the specified 'Liquidity' column cells (A.0, B.0, C.7, C.0, D.0, E.0) blank.
• OIBs must ensure that the sheet's Sum A total (cell C10) equals the corresponding total on the '8.3 Total Deposits' sheet (cell C13).
• OIBs must ensure that the sheet's overall total (cell C32) equals the corresponding total on the '2.1 BS Assets' sheet (cell C71).
• OIBs should independently check their own submitted data rather than relying solely on Excel's built in validation.

Applies to

OIBs (Overseas Investment Businesses subject to JFSC prudential reporting)