As policy makers prepare to strengthen the world’s regulatory system, Lombard Risk, a global leader in regulatory compliance and collateralised trading, is poised with STB-Reporter, a global regulatory compliance reporting platform, to provide the foundation necessary for financial institutions to achieve regulatory accountability, and specifically to address key new requirements regarding liquidity risk.
Regulatory changes are being prepared by the IMF, the World Bank, BIS, the new administration in the US, the FSA in the UK, CEBS in the EU, and the many important regulators throughout Asia in a continuing effort to address the market crisis and repair deficiencies in outdated regulatory reporting structures. Financial Institutions will have to move quickly to accommodate tightening regulatory compliance agendas around the world. Without automation, the challenges to comply with the new regulations are exceptionally onerous. Many Financial Institutions are already struggling with shorter reporting timescales, grappling with error-prone manual, reporting processes and are still dealing with stricter Basel II expectations. Furthermore, new regulations such as those proposed by the UK FSA in the Consultation Paper *Strengthening Liquidity Standards CP09/13*, will make the compliance challenge even more burdensome. It is almost impossible to keep up with the regulatory changes, without automation. Indeed, the UK FSA state accordingly all firms will need to have systems in place which will allow them to comply with daily reporting.
STB-Reporter from Lombard Risk enables financial institutions to improve regulatory reporting controls by providing an overarching global regulatory compliance framework to handle the ongoing reporting changes and increasing complexity. "Using STB-Reporter from Lombard Risk increases our operational transparency and makes operational control and regulatory reporting easier, faster and ultimately more cost-efficient.
We now have complete ownership over the line-items that we report to our regulators." said Joseph Loffredo, vice president and chief financial officer at China Merchants Bank, New York. John Wisbey, Lombard Risk ceo also commented, *STB-Reporter is helping banks and other institutions in many parts of the world to comply with what is becoming an increasingly complex reporting challenge. We applaud the foresight of China Merchants Bank. With STB-Reporter, they have positioned themselves well ahead of the curve with regard to meeting their new regulatory reporting requirements in an efficient and effective manner.* STB-Reporter enables firms to generate timely information, moving quickly from a purely regulatory approach to achieving profitability analysis, capital allocation assessment, and liquidity risk stress and scenario testing.
