Validation and verification of the '8.2 Loan Security' Sheet (Guidance Note, September 2019)

Summary

This guidance note explains the automated validation and verification checks that the JFSC applies to the '8.2 Loan Security' sheet of the prudential reporting template used by OIBs (Overseas/Other Institutions of Business subject to the JFSC's prudential reporting regime). It sets out how data entry checks, calculation checks and cross-sheet logical checks operate, and what error or warning messages an OIB will see if a check fails on submission.

• Data input validation: Monetary amount cells (e.g. items A.1.1 to A.3, cells C3 to C5, C7 and C8 on the '8.2 Loan Security' sheet) must contain whole numbers within the range -1,000,000,000 to +1,000,000,000 (representing units of £1,000, i.e. up to +/- £1 trillion).
• Calculation checks: Certain cells are auto-calculated: C6 sums C3 to C5 (item A.1.0) and C9 sums C6 to C8 (item A.0); these are checked rather than manually entered.
• Logical (cross-sheet) check: The total in cell C9 of the '8.2 Loan Security' sheet (Sum A) must equal the corresponding figure in cell C40 of the '2.1 BS Assets' sheet (Sum B); a mismatch is flagged in red with an explanatory comment box.
• Submission process: Excel's built-in validation is not a failsafe (it only checks on direct manual input), so OIBs should independently check their data; the JFSC re-runs all checks upon submission of the template and communicates acceptance together with any warnings.

The note is a technical companion to the prudential reporting template rather than a standalone rule; it does not introduce new substantive reporting obligations beyond ensuring the loan security data entered is numerically valid and internally consistent before submission.

Key obligations

• OIBs must ensure monetary amounts entered in the '8.2 Loan Security' sheet (cells C3, C4, C5, C7, C8) are whole numbers within the range -1,000,000,000 to +1,000,000,000.
• OIBs must ensure the calculated total in cell C9 of the '8.2 Loan Security' sheet equals the corresponding total in cell C40 of the '2.1 BS Assets' sheet before or upon submission.
• OIBs should independently verify their data prior to submission rather than relying solely on Excel's built-in validation, since the JFSC will re-run checks on submission and report any warnings or failures.

Applies to

OIBs (subject to JFSC prudential reporting requirements)