SOURCE: FRSGlobal

August 19, 2009 08:00 ET

FRSGlobal Ready to Enable Canadian Banks to Comply With New OSFI Reporting Requirements for Q1 2010

TORONTO--(Marketwire - August 19, 2009) - FRSGlobal, the only global provider of risk and regulatory compliance solutions on a unified platform with coverage for over 40 countries, today announced that it will make available new report modules that incorporate changes required by the Office of the Superintendent of Financial Institutions (OSFI) Canada for Q1 2010.

OSFI has issued guidance on a significant number of regulatory reporting changes impacting Q1 2010 filings for all Canadian deposit-taking institutions. Through its team of analysts and subject matter experts, FRSGlobal is already working on providing these updates for its clients to ensure timely delivery and compliance with the change in regulatory requirements.

FRSGlobal will provide the following changes to leading Canadian financial institutions:

--  Revisions to the Basel ll Capital Adequacy Report (BCAR)
--  Updates to the New Credit Risk Reporting (NCR)
--  Modifications to statutory and regulatory reports for OSFI, Bank of
    Canada and Statistics Canada
    

A number of the leading banks in Canada rely on the FRSGlobal solution to meet all of their regulatory reporting requirements today. All Canadian customers will automatically receive the new report modules as part of the FRSGlobal guaranteed regulatory update service.

Richard Ferrari, Vice President - Americas, FRSGlobal, commented:

"Our Centre of Risk & Regulatory Excellence experts have been continually monitoring OSFI and flagging any proposed reporting changes to our development team. Accordingly the new Canadian reports will be available to customers well in advance of the reporting deadline. Our customers around the world depend on us to keep them fully compliant with any changes in their regulatory reporting obligations. It is this level of service which has made FRSGlobal the leading provider of regulatory reporting in Canada."

About FRSGlobal

FRSGlobal is the only provider of risk management and regulatory compliance reporting solutions on a unified platform with a single data model.

FRSGlobal solutions are a combination of modules from RegPro and RiskPro, sharing a single DataFoundation and Calculatio nEngine, and content (global data model and report definitions):

--  RiskPro provides profitability analysis across the following risk
    types: Asset Liability Management (ALM), Liquidity, Market, Credit, Basel
    II, IFRS/IAS32 and 39, Solvency II, Funds Transfer Pricing and Economic
    Capital.
    
--  RegPro enables financial institutions to address major regulatory and
    compliance requirements locally and globally - with reports for more than
    40 countries.
    
--  Subscribing clients benefit from the FRSGlobal Guarantee, which
    ensures the regulatory reports are maintained in line with the Regulators'
    requirements.
    
--  FRSGlobal Centre of Risk & Regulatory Excellence monitors risk and
    regulatory activities in 100+ countries.
    

FRSGlobal has nearly 20 years of industry expertise and its solutions are used in over 1500 financial organisations -- including 41 of the top 50 global banking institutions. It is owned by the Carlyle Group and Kennet Partners.

FRSGlobal is headquartered in Brussels with a further 19 other offices in North America (Boston, New York and Toronto), Europe (Amsterdam, Brussels, Dublin, Lisbon, London, Luxembourg, Madrid, Paris, Zurich, Lausanne, Warsaw and Cluj-Napoca (Romania)), Dubai and Asia Pacific and Japan (Hong Kong, Pune and Singapore).

Contact Information

  • COMPANY CONTACTS
    FRSGlobal
    Lauren Dearmer
    PR Manager
    Tel: +44 (0) 20 7539 6525
    Email: Email Contact

    US PR CONTACT
    FRSGlobal
    Michael Kane
    Tel: (978) 698-7602
    Email: Email Contact