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FRSGlobal Launches New Liquidity Risk Solution for Compliance with UK’s CP 08/22

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Risk and regulatory reporting solution vendor FRSGlobal has launched its new Liquidity Risk solution, aimed at enabling financial institutions to meet the requirements proposed by the UK Financial Services Authority’s (FSA) Consultation Paper (CP) 08/22. According to Thomas Brouwer, product manager at the vendor, the combined risk and regulatory platform meets its customers’ demands for integrated internal and external reporting with features.

Brouwer reckons there will be more regulation along the lines of the FSA proposals from other regulators in the near future. “The events of the past year have highlighted just how inadequate existing liquidity management, measurement and reporting regimes have been. The FSA has been the first to show its cards, but we do not expect them to be alone in imposing stringent liquidity requirements. The financial and political landscape has undeniably changed – regulators across the globe cannot be seen to be lax on liquidity and financial institutions must prepare themselves for a host of associated changes,” he says.

The solution includes nine new regulatory reports for liquidity risk, modules to assist in stress testing and in meeting the regulation’s new data management and management reporting requirements.

The consultation paper has already come under fire from the industry due to the shortened timeframe for implementation, by October this year, and its potentially onerous reporting requirements for small to medium sized institutions.

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