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Volume 30, Issue 1

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Wednesday, 15 May 2013 15:54

Flexible technology needed to respond to regulatory change, says Fincad

New regulations are driving significant changes in risk management systems and processes - and financial institutions need to ensure their technology is flexible enough to respond, according to Tony Webb, director of analytics at Fincad, at British Columbia, Canada-headquartered risk analytics and derivatives risk management software provider.

Regulators across the globe are working to implement a Group-of-20 pledge to clear all standardised over-the-counter derivatives through a central counterparty and to report transaction-level data to repositories. Meanwhile, several countries implemented Basel III on schedule from the start of 2013, which - among other things - requires banks to meet a credit valuation adjustment capital charge and comply with new liquidity ratios. Other jurisdictions - US and Europe among them - have not yet implemented the new Basel framework, but have pledged they will.