Validation and verification of the '8.5 Large Exposures' Sheet (September 2019)

Summary

This is a technical guidance note from the JFSC explaining the automated validation and verification checks applied to the '8.5 Large Exposures' sheet of the prudential reporting template used by OIBs (Overseas/other international banks). It does not create new reporting obligations but sets out the format rules that data in each field of the template must satisfy before a submission will be accepted.

• Yes/No fields: Fields such as 'Connected to bank?', 'Performing?' and 'Parental Guarantee or Loan Take-Over Agreement' must be entered as Y or N.
• Monetary fields: Outstanding Amount, Facility Amount and Provision must be whole numbers between -1,000,000,000 and +1,000,000,000 (units of £1,000).
• Collateral description: The Collateral (Cash, Govt or Other) field must be text between 2 and 50 characters.
• Collateral Cover %: Must be a percentage between 0% and 1,000%; if the actual figure exceeds 1,000%, 1,000% should be entered.
• Currency code: Must be entered as a 3 digit ISO currency code.
• Maturity Date: Must be a date between 1 January 2019 and 31 December 2119.
• Submission process: Excel's built in validation is not a failsafe (it only checks on direct input); the JFSC re-checks all data on submission and, if checks pass, confirms acceptance and issues any warnings.

Each check has a unique identifier (Check 1 to 100, covering entries LE.1 to LE.10) that is referenced in any error message returned by the JFSC, allowing the OIB to match the message back to the relevant cell and rule in this guidance.

Key obligations

• OIBs must ensure that Yes/No fields (Connected to bank?, Performing?, Parental Guarantee or Loan Take-Over Agreement) in the 8.5 Large Exposures sheet are entered as Y or N.
• OIBs must ensure monetary fields (Outstanding Amount, Facility Amount, Provision) are whole numbers within the range -1,000,000,000 to +1,000,000,000.
• OIBs must enter the Collateral (Cash, Govt or Other) field as text between 2 and 50 characters.
• OIBs must enter Collateral Cover % as a percentage between 0% and 1,000%, capping at 1,000% if the true figure exceeds this.
• OIBs must enter Currency as a valid 3 digit ISO currency code.
• OIBs must enter Maturity Date as a date between 1 January 2019 and 31 December 2119.
• OIBs should independently check their data before submission, as Excel's built in validation only triggers on direct or manual input and is not a failsafe; the JFSC will also validate the data on submission.

Applies to

OIBs