SimCorp has signed a licence agreement with The Federal Home Loan Bank of Des Moines (FHLB Des Moines) for use of SimCorp’s investment management system, SimCorp Dimension, across front, middle, and back office.
Under this new agreement, FHLB Des Moines will utilise SimCorp Dimension across the majority of its balance sheet operations, worth approximately $150 billion.
The solution will cover investment securities, consolidated obligation debt securities, advances and derivatives (including hedge accounting).
Bill Bemis, treasurer for FHLB Des Moines, said: “A scalable and efficient operating infrastructure is key to the success of our mission. To that end, we found SimCorp’s cross asset platform ideal to unify our four major business activities, securities, derivatives, consolidated obligations (debt issuance), and collateralised advances.”
James Corrigan, executive vice president and managing director of SimCorp North America, said: “We are extremely proud to add FHLB Des Moines to our growing list of government-sponsored enterprise clients.”
He added: “FHLB Des Moines is among the most progressive organisations with the vision and commitment to onboard technology and automation in support of broader business mandates for liquidity management, operating efficiency, risk management and regulatory compliance.”
