FRSGlobal

SDC of Denmark selects FRSGlobal to implement Basel II pillar 2 stress testing

5/2/2009

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Skandinavisk Data Centre (SDC) is a provider of technology to over 130 member banks in the Nordic region

• SDC is implementing FRSGlobal's riskpro^TM to extend its CAD credit and market risk reporting with stress testing to its member banks

Copenhagen, Zurich - 05 February, 2009 : FRSGlobal, the only global provider of risk and regulatory compliance solutions on a unified platform with coverage for over 30 countries, today announced that it has been selected by Skandinavisk Data Center (SDC) to implement stress testing regulations for its member banks, covering Basel II pillar 2. SDC is a long standing user of riskpro^TM for credit and market risk CAD reporting for over 130 banks in Denmark, Norway and Sweden.

FRSGlobal was selected due to its proven ability to deliver a cost effective innovative solution which allows both automated and ad hoc analysis and reporting, satisfying the needs of both large and smaller banks. SDC also based the selection on the ability to "plug in" additional riskpro™ functionality using the multi-bank platform built for making data available for credit and market risk. Moreover FRSGlobal displayed its commitment to the customer and the market by adapting their timeline to deliver an enhancement necessary for the automated production of Basel II pillar 2 stress testing in early 2009.

FRSGlobal is working with SDC's central project management to ensure a smooth implementation. Static stress testing is expected to take place during the third quarter of 2009 and dynamic CAD calculation and stress testing is also planned.

Klaus Laforce, Development Director, SDC, noted: "The importance of stress testing has increased based on the lessons learned from the credit crunch, foremost the possibility of high sigma events and market movements. We have extended the scope of riskpro™ because over time we have realised clear business advantages through the integration of risk and regulatory reporting. We also appreciate its scalability and modularity."

Kris Luyten, Account Manager, FRSGlobal, commented: "Danish and Scandinavian banks are among the first to put pillar 2 of Basel II into practice. Scandinavia has traditionally been an early adopter, or even precursor, of risk regulation. This is true not only with Basel II but also Solvency II. In addition, Scandinavian financial institutions are sophisticated technology users. We look forward to working with SDC and its member banks in further risk and regulatory areas"