FRSGlobal, the provider of risk and regulatory reporting solutions on a unified platform, has announced that Canada-based Canadian Imperial Bank of Commerce (CIBC) has chosen its liquidity solution. The combination of FRSGlobal’s stress testing and regulatory reporting will enable the firm to monitor, manage and report liquidity as well as build and develop a library of stress tests in accordance with the FSA’s requirements.
FRSGlobal said that its solution has been developed in conjunction with a peer group of financial institutions. The solution features regulatory reporting, stress testing, data management, management reporting and set of standard scenario templates.
Mark Piper, VP UK, Ireland and MEA at FRSGlobal, said: “The final liquidity paper is now out which states that the FSA expects every firm to start reporting according to the timescales set out, without exception. We have seen a steady increase in the adoption of our liquidity risk solution as the industry realises the far-reaching requirements of the regime, which truly is a testament to the strength behind our offering. We welcome the addition of CIBC to our growing liquidity risk client base.
“As an existing customer of FRSGlobal, CIBC was aware of the high calibre technology and level of service they would receive if they were to select our liquidity risk solution. However, as the FSA’s guidelines are so comprehensive and unyielding, understandably they still had to do their due diligence and look at other products on offer in the market before making a decision.”
