Bank of America is implementing SunGard's BancWare Capital Manager product in order to comply with the forthcoming Basel II Capital Accord regulations.
BancWare Capital Manager - which was previously called Basel II Capital Manager - is a complete Basel II system covering capital calculation and reporting, data consolidation, credit risk and operational risk.
SunGard says the system will help BoA achieve compliance with the Internal Ratings Based approach of the Basel II Accord.
Terence Faherty, president of SunGard's BancWare business unit, says the technology will help the bank ensure that it is holding capital commensurate with assumed risk, and that operational processes and procedures create an environment of consistent, accurate and timely risk identification and measurement.
Donna Ferretti Tihalas, Basel II programme manager, Bank of America, says: "Early on, Bank of America determined that its strategy for Basel II implementation would look to leverage best-in-class risk, finance and technology infrastructure and processes.
"We selected SunGard for its track record of successfully executing implementations, its experience in installing Basel II solutions, and its in-depth knowledge of the regulatory framework."