FRSGlobal

The Banker, May 2011: New UK liquidity rules set to have global repercussions

Some have opted to partner with specific vendors to be able to meet the onslaught of regulatory reporting requirements. Sumitomo Mitsui Banking Corporation Europe (SMBCE), for example, chose FRSGlobal’s platform. “With such tight time frames for implementation, we quickly realised time was of the essence for this project,” says Keith Haylock, assistant general manager at SMBCE. “Years ago, when the FSA only required three prudential reports, it would have been possible to handle this internally. But we knew the number of reports would rise to more than 500 with the new liquidity requirements, and the potential opportunity cost to a firm that cannot demonstrate adequate liquidity management and controls is significant.”

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