FRSGlobal

Two global firms first to invest in FRSGlobal Liquidity risk solution for FSA reporting

21/4/2009

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RiskPro: liquidity stress engine

RegPro: regulatory reporting suite

London, 21st April 2009: FRSGlobal, the only global provider of risk and regulatory reporting solutions with coverage for over 30 countries on a unified platform, today announced that two global financial institutions have purchased FRSGlobal's Liquidity solution. The combination of FRSGlobal's stress testing and regulatory reporting will enable them to monitor, manage and report liquidity as well as build and develop a library of stress tests.

In December 2008 the FSA released a Consultative Paper - CP 08/22 - Strengthening Liquidity Standards. This outlined the regulator's proposals for the introduction of an onerous liquidity regime with a long list of requirements including: the extension of liquidity monitoring beyond just banks and building societies to investment firms; institutions having to establish and document a liquidity risk management process; to report liquidity mismatches weekly (daily in times of crisis); and to stress test their liquidity assumptions. This liquidity regime has to be in place for firms to report from 1st January 2010, leaving very little room for manoeuvre.

Mark Piper, VP UK, Ireland and MEA, said : "I am delighted to welcome these established global institutions to our client base. They have taken the lead in selecting a vendor solution and will benefit from the maximum possible time to implement and tune the system to their own requirements and so ensure an efficient and regulatory compliant solution is in place well before the end of 2009."