AxiomSL has launched its PRA110 solution, a new liquidity calculation and template, to widen its UK liquidity risk calculation and reporting suite.
The solution automates the calculation of maturity mismatch and ensures that the final PRA110 template that is reported to the Prudential Regulatory Authority (PRA) is reconciled, timely and accurate.
The PRA110 will come into effect from July 2019 to replace current FSA047 and FSA048 processes.
It will apply to all UK banks, building societies and PRA designated investment firms. A firm’s profile will determine the calculation and reporting frequency which may be daily, weekly or monthly.
According to AxiomSL, the platform ensures that the liquidity regulatory compliance regimes, including the liquidity coverage ratio and the net stable funding ratio, are all fully integrated and aligned to the internal risk management and asset liability management functions.
PRA110 is fully integrated into a unified liquidity data model which means all the internal and external liquidity risk management measures are able to utilise common data sources and modelling assumptions.
As with all AxiomSL’s solutions, PRA110 and the liquidity suite is available both on premise and on cloud.
Ed Royan, CEO of AxiomSL for Europe, Middle East and Africa (EMEA), commented: “We are pleased to enhance our liquidity risk calculation and reporting suite with the launch of our PRA110 solution. With increased regulatory scrutiny, it is imperative that reporting satisfies requirements accurately and on time.”
He added: “Now is the time to prepare for the new standard by automating and integrating systems to effectively facilitate the granular data collection and submission prior to the July 2019 deadline.”
Wissam Elzeenni, liquidity product manager for AxiomSL EMEA, commented: “AxiomSL’s liquidity solution encompasses all liquidity regulatory compliance regimes, including PRA110 and provides a fully integrated cash flow engine as well as dynamic dashboards along with forecasting, variance and trend analysis.”
