The National Bank of Greece (NBG) is implementing SunGard's BancWare Capital Manager technology to comply with the forthcoming Basel II Capital Accord regulations.
BancWare Capital Manager is a complete Basel II system covering capital calculation and reporting, data consolidation, credit risk and operational risk.
The modelling and analysis system helps financial institutions meet compliance requirements and develop risk-sensitive approaches for managing economic capital, says the vendor.
The bank will use the technology for Basel II regulatory and economical capital management and reporting, as well as to provide full Pillar 2 and 3 functionality.
SunGard says NBG will also use its BancWare Data Integration application to aggregate data across technology platforms and help streamline its capital management process.
Terence Faherty, president of SunGard’s BancWare business unit, says: "The Central Bank of Greece requires the leading banks in Greece to comply with Basel II's advanced internal ratings based method for Pillar 1 minimum capital requirements, by the end of 2007. SunGard's BancWare Capital Manager will help provide the technology functionality to help NBG meet this deadline."
SunGard's local partner in Greece, Profile, will help with the implementation of BancWare at NBG.