April 15, 2009 08:00 ET

FRSGlobal Releases New Version of Basel II Capital Adequacy Reporting Solution for Canadian Banks

Solution Enables Canadian Banks to Meet Regulatory Reporting Requirements Outlined by OSFI

NEW YORK, NY--(Marketwire - April 15, 2009) - FRSGlobal, the only global provider of risk and regulatory compliance solutions on a unified platform with coverage for over 30 countries, today announced that it has released a new version of their Basel II Capital Adequacy Reporting (BCAR) solution. The FRSGlobal BCAR solution enables Canadian banks to meet the Basel II Standardized reporting (BCAR) requirements outlined by the Office of the Superintendent of Financial Institutions (OSFI) Canada.

The new release incorporates updates to a number of OSFI validation rules and allocation changes impacting Double Default schedules. Exposure classes for several corporate entities have been added as well. Four of the leading banks in Canada utilize the FRSGlobal BCAR solution for the reporting requirements that have been detailed by OSFI.

Canadian banks pursuing the Basel II Framework must adhere to a compliance approach geared to the regulatory guidance outlined by OSFI. The FRSGlobal BCAR solution supports all of the summary and portfolio level reporting for credit risk, market risk and operational risk deliverables. The solution also enables banks to have access to each reporting schedule that is required by OSFI, drill down capabilities for all of the reporting schedules, with electronic delivery functionality (utilizing the ADT standard as mandated by OSFI), as well as all of the inter and intra schedule validation checks. This assures the conditions for full regulatory compliance. FRSGlobal guarantees that the reporting format and contents will reflect the most up-to-date version of the Canadian regulatory reporting requirements.

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

"We have a team of experts in our Centre of Risk & Regulatory Excellence that specifically focuses on Canada. These experts monitor all of the major regulatory agencies and organizations in Canada and identify any changes to existing regulations or new regulations that impact reports that financial institutions need to submit. This team is responsible for keeping the reports covered by the FRSGlobal Guarantee up-to-date and compliant with Canadian regulators."

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 CalculationEngine:

--  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
--  RegPro enables financial institutions to address major regulatory and
    compliance requirements locally and globally -- with reports for more than
    30 countries.
--  Subscribing clients benefit from the FRSGlobal Guarantee, which
    ensures the regulatory reports are maintained in line with the Regulators'
--  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

    Rebecca Bond, VP Marketing
    Tel: +44 (0) 20 7539 6548
    Email: Email Contact

    Penrose Financial
    John Sarsfield / Simone Selzer
    Tel: +44 (0) 20 7786 4830 / 56
    Email: Email Contact / Email Contact

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