Regulators in the USA
Financial institutions in the United States need to report to a large number of regulators, namely:
Regulatory Environment — USA
Thrift financial reporting
Balance sheet reporting
Capital adequacy reporting
FFIEC Call reports
Country exposure report
Direct investment reporting
Treasury international capital reporting
Firms are faced with investing time, effort and resource to:
So how can we help you?
Wolters Kluwer Financial Services provides regulatory reporting solutions throughout the world for banks, insurance companies, and other financial institutions. By leveraging a global data model (DataFoundation), a standardised integral development environment, fully integrated calculation capabilities and a global runtime engine for reporting, we can provide local reporting efficiently consistently for any jurisdiction.
The main benefits of the our regulatory reporting solution include:
As leaders in the field of risk and regulatory solutions Wolters Kluwer Financial Services understands your business needs. Our heritage in and in-depth knowledge of the financial market enables the development of our solutions to be so flexible that they meet the needs of ALL firms whatever the size or complexity.
Wolters Kluwer Financial Services leads the way in risk and regulatory compliance solutions and has many referenceable clients who have successfully deployed solutions covering regulatory reporting and risk management.
Asset & Liability Management
In light of the recent financial crisis US banks of all sizes are re-evaluating the way in which they currently model their ALM risk. Boards and regulators want to see ALM simulations and liquidity linked to Earnings at Risk models and income projections.
ALM models should meet requirements with regards to:
Interagency guidance for US financial institutions
On March 17th 2010 the Office of the Comptroller (OCC), Federal Reserve System (FRB), Federal Deposit Insurance Corporation (FDIC), the Office of Thrift Supervision (OTS), National Credit Union Administration (NCUA), and Conference of State Bank Supervisors (CSB) issued guidance to provide consistent interagency expectations on sound practices for managing funding and liquidity risk.
The guidance reiterates the process that financial institutions should follow to identify, measure, monitor, and control their funding and liquidity risk. The guidance re-emphasizes the importance of cash flow projections, stress testing, and well-developed contingency funding plan for measuring and managing liquidity risk.
The 6-step process for ALM
130 Turner Street
T: +1 781 370 1515
Read the press release: FRSGlobal announces configurable ALM solution for US banks »
In March 2010 FRSGlobal presented a webinar entitled: "Dynamic ALM stress testing templates for increased profitability forecasting". If you were unable to attend the webinar you can register to receive a copy of the material or view a recording by registering here »
To strengthen global capital and liquidity regulations, the Basel Committee on Banking Supervision (BCBS) proposed a consultative document covering the following areas:
The primary goal of the committee is to strengthen the resilience of the banking sector over the long term and avoid the negative impact on bank lending activity which can affect economic recovery.
The measures taken by the Federal Reserve to manage different risk in the recent periods are:
The Federal Reserve system’s board of governors, under delegated authority from the Office of Management and Budget (OMB) proposed the revision of risk based capital standards to market risk.
The suggestions in the proposal would reduce pro-cyclicality in market risk capital requirements, enhance the rules sensitivity to the risks that are not adequately captured by the current regulatory measurement methodologies and will increase market discipline through enhanced disclosures.
The Federal Reserve system and the other federal banking agencies are issuing interagency guidance on the Advanced Measurement Approach (AMA) for operational risk to provide clarity on implementation issues related to the advanced measurement approach. The guidance addresses certain aspects of the minimum risk-based capital requirements for operational risk.
The consultation focuses on the four required AMA data elements:
We are prepared to solve and maintain the U.S. Basel II reporting challenge for both the standardized and advanced approaches, including all local requirements. The solution is a complete resolution for data storage, data assessment and reporting of regulatory capital requirements as directed under the US Basel II accord. We offer regulatory capital analytics (including local discretions), ad-hoc analysis & reporting, and full utilization of LGD, EAD, CRM, RWA, and capital ratio calculations. The solution includes a centralized, standard data repository consisting of market, credit, operational risks and capital consolidated data. Basel II reporting for the US can be fully automated and will result in a significant reduction in cost, inaccuracy and man hours associated with generating reports.
The International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB) have been working together since 2002 to achieve convergence of IFRS and the U.S. generally accepted accounting principles (GAAP). With a priority of high quality global standards of both the IASB and the FASB the target date for substantial convergence of US GAAP with IFRS is 2011. Adopting IFRS has been allowed for foreign issuers in the US since 2007 and a decision about possible adoption for US companies is expected in 2011.The FRSGlobal solution meets the full requirements of IFRS along with greater insight into organisational strengths and exposures.
130 Turner Street
T: +1 781 370 1515
Wolters Kluwer Financial Services provides to financial institutions in the U.S. a comprehensive risk platform that incorporates a calculation engine. Our RiskPro solution covers Asset Liability Management (ALM), liquidity risk management, market risk analysis, and credit risk analytics including exposure analysis, value at risk, funds transfer pricing, dynamic simulation, limits, historisation, Basel I and II, risk-adjusted performance analysis, credit exposure, credit loss and IAS 39. .
Statutory Reporting (US and Foreign Branch Reporting)
Wolters Kluwer Financial Services offers a comprehensive automated regulatory reporting solution that satisfies requirements as set forth by the FFIEC, Federal Reserve, FDIC and U.S. Department of Treasury. For many reasons, it makes strategic business sense to have an automated, rapid and centralized regulatory reporting solution: