Lombard Risk Management (LSE: LRM), the leading dedicated global provider of integrated regulatory reporting and collateral management solutions, is pleased to announce that three of its long-standing clients have successfully completed their first filing of the mandated FR 2052a (Complex Institution Liquidity Monitoring Report) regulatory report using the Lombard Risk AgileREPORTER solution.
FR 2052a is being phased in to the reporting regimen of US-based banks using a three-tiered approach based on total consolidated assets (in U.S. dollars). Filed on an on-going basis, the purpose of the FR 2052a report is to provide the Federal Reserve Bank with insight into a bank’s intra-company flows and exposures. This ultimately helps to identify and monitor liquidity risks within a bank’s various business lines, as well as in aggregate across the financial system.
Based on the report’s filing requirements, two of the banks were required to meet the Foreign Banking Organizations (FBOs) filing regulations, and the third, a top 20 U.S. bank was required to file based on its total consolidated asset size. Each of these institutions needed to comply with the third wave of the roll out schedule, and wanted to automate processes to the fullest extent possible. By leveraging the Lombard Risk AgileREPORTER solution, each of the three was successful in creating and validating the XML transmission for the report filing to the Federal Reserve Bank. These latest go lives are in addition to initial reporting of one of Lombard Risk’s largest clients on AgileREPORTER for FR 2052a LCR reporting announced earlier this year.
“Given the inherent complexity of Liquidity Coverage Ratio (LCR) reporting projects, we consider it a huge accomplishment to already have four of our clients live and successfully filing FR 2052a using our regulatory reporting solution,” commented John Groetch, Managing Director – Americas, Lombard Risk. “Unlike other LCR reporting solutions, Lombard Risk AgileREPORTER supports the frequent movement of extremely high volumes of complex data, making it the solution of choice for both foreign and domestic commercial banks. We look forward to supporting many more banks affected by this regulatory reporting mandate.”