Lombard Risk Management plc (LSE: LRM), a recognised provider of regulatory reporting and collateral management solutions, is pleased to announce that one of its largest U.S. banking clients has completed their first filing of FR 2052a (Complex Institution Liquidity Monitoring Report) using Lombard Risk’s AgileREPORTER.
FR 2052a is being phased in to the reporting regimen of banks in the United States using a three-tiered approach based on total consolidated assets (by U.S. dollars). This institution is among the second tier of banks submitting the FR 2052a and it is their first required liquidity filing. The report contains some of the most complex requirements imposed upon U.S. banks and must be filed on an on-going basis. The bank’s initial filing was based on January’s data, and subsequent filings are due monthly. Given the high volume and extremely complex nature of the data, it was imperative that the bank automate processes to the fullest extent possible in configuring their FR 2052a solution.
Working closely with Lombard Risk’s team of regulatory experts, the bank leveraged the AgileREPORTER solution to both create and validate the XML transmission for the FR 2052a. AgileREPORTER provides the user with a LCR calculation summary template along with the required XML schema validation. This optimised solution design will be easily leveraged by the many banks lined up for the third wave of the FR 2052a roll out targeted for the end of July 2017. AgileREPORTER differs from other LCR solutions in that it supports extremely high volumes of complex data being moved on a frequent basis.
Tina Wilkinson, Global Head of Product from Lombard Risk said: “We are thrilled to be working with this leading U.S. bank in complying with the new FR 2052a filing which requires large amounts of data to be effectively captured and reported. The need for timely data to identify and monitor liquidity risks is a crucial element of the LCR framework and Lombard Risk recognises the value our solutions deliver in helping clients meet this need.
“Lombard Risk has been working closely with regulators to ensure our clients are completely compliant and up to speed on the latest regulatory requirements which may impact their business. AgileREPORTER enables firms to do what has never been done before with regards to the frequency, volume and complexity of data mapping and calculations.”