Published On: Mon, Apr 12th, 2010

A Further Three Firms Sign Up For FRSGlobal Liquidity Solution In Q1

FRSGlobal, the only global provider of risk and regulatory reporting solutions with coverage for over 40 countries on a unified platform, today announced that a further three firms have chosen its industry acclaimed liquidity solution to comply with the FSA’s regime.

Mark Piper, VP UK, Ireland and MEA, commented: “These wins take us into double figures for sales of our UK liquidity solution, with even more in the pipeline. Clearly, the effort we put into building our technology with a peer group of institutions, twinned with the fact we had a first-mover advantage by releasing the solution in July 2009, means that our liquidity platform has resonated with the market at large. As implementation times continue to shrink, institutions are looking for a proven, tested solution that can actually be “touched and felt”. Our template-approach to the stress-testing element of the regime delivers a low-risk, swift implementation with known and demonstrable results which can be presented to the regulator as proof that the institution will be capable of complying with the regulations.”

Since its inception, FRSGlobal has been closely tracking and analysing the FSA’s UK liquidity regime – feeding back its expertise to the industry as part of its Centre of Risk and Regulatory Excellence (CoR2E). The most recent example of this is FRSGlobal’s involvement in the British Bankers’ Association Liquidity Conference in London on 22nd April 2010. Selwyn Blair-Ford, Head of Global Regulatory Policy at FRSGlobal will be giving a presentation on “The New Liquidity Regime – Dealing with the practicalities” which will cover the following points:
• How some firms have approached the new liquidity regime;
• Liquidity and other regulatory initiatives: tactical vs. strategic approach;
• The information requirements for internal and external reporting;
• The confusion between FSA reporting and internal liquidity management;
• The cost of modifications, waivers and taking a simplified approach;
• What needs to be considered when planning effective liquidity reporting.

Selwyn Blair-Ford, Head of Global Regulatory Policy said: “It is certain that liquidity solutions will be required by all banks across the globe. From my in-depth analysis of both international regulatory discussions and the more country-specific, localised pronouncements, it is clear that the FSA requirements in London are just the tip of the iceberg and I expect to see other regions step up the urgency and demand for liquidity solutions in the very near future.”

FRSGlobal’s full liquidity risk solution has been developed in conjunction with a peer group of financial institutions and was ranked joint first for ‘Completeness of Offering in the ALM and Liquidity Marketplace’ in Chartis market analysis report – as it provides its customers with solutions for all aspects of the new liquidity regime including:
• Regulatory Reporting – there will be seven new regulatory reports/data items for liquidity risk;
• Stress Testing – firms will need to be able to conduct regular stress tests in order to identify sources of potential liquidity strain;
• Data Management – firms will need to be able to source additional data for reporting requirements;
• Management Reporting – firms will be required to have a robust management framework in place;
• Set of standard scenario templates – provided as part of the Liquidity Risk Engine and stress testing.

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