Mystery G-SIB adopts AxiomSL in EU
10 November 2015 New York
Image: Shutterstock
A US global systematically important bank (G-SIB) has gone live with AxiomSL’s regulatory reporting and risk management solutions platform for its reporting in Germany, France and the UK.
The bank, which has not been named, also plans to use AxiomSL to comply with Swiss regulatory reporting.
AxiomSL will support reporting for the Liquidity Coverage Ratio (LCR), the Net Stable Funding Ratio and Additional Liquidity Monitoring Metrics, all components of the Capital Requirements Directive IV.
The solution provides a single platform for calculation and reporting requirements. AxiomSL cited the scalability of its technology as part of the reason for the decision, while also noting that the harmonisation of European regulations can help to reduce infrastructure costs and time-to-market.
Although reporting requirements are different in Switzerland, the same technology will be used here, in a bid to further minimise the cost of compliance in Europe.
Ed Royan, COO for Europe, the Middle East and Africa at AxiomSL, said: “This large American bank has been an AxiomSL client in the US and Singapore for some time, so we are delighted that they have chosen to expand their relationship with us in Europe,”
He added: “The harmonisation of regulatory requirements in the EU presents great opportunities for banks to streamline their approach to compliance. The success of this LCR project in Germany, France and the UK demonstrates how banks can use our platform to seize these opportunities.”
The bank, which has not been named, also plans to use AxiomSL to comply with Swiss regulatory reporting.
AxiomSL will support reporting for the Liquidity Coverage Ratio (LCR), the Net Stable Funding Ratio and Additional Liquidity Monitoring Metrics, all components of the Capital Requirements Directive IV.
The solution provides a single platform for calculation and reporting requirements. AxiomSL cited the scalability of its technology as part of the reason for the decision, while also noting that the harmonisation of European regulations can help to reduce infrastructure costs and time-to-market.
Although reporting requirements are different in Switzerland, the same technology will be used here, in a bid to further minimise the cost of compliance in Europe.
Ed Royan, COO for Europe, the Middle East and Africa at AxiomSL, said: “This large American bank has been an AxiomSL client in the US and Singapore for some time, so we are delighted that they have chosen to expand their relationship with us in Europe,”
He added: “The harmonisation of regulatory requirements in the EU presents great opportunities for banks to streamline their approach to compliance. The success of this LCR project in Germany, France and the UK demonstrates how banks can use our platform to seize these opportunities.”
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