Nordic bank computing centre Skandinavisk Data Centre (SDC) is implementing FRSGlobal's riskpro to extend its CAD credit and market risk reporting with stress testing to its member banks
SDC, a long standing user of riskpro for credit and market risk CAD reporting for over 130 banks in Denmark, Norway and Sweden, is extending its use of the package to meet new stress testing regulations emerging from Basel II pillar 2.
The vendor is currently working with SDC's central project management to ensure a timely implementation. Static stress testing is expected to take place during the third quarter of 2009 and dynamic CAD calculation and stress testing is also planned.
Klaus Laforce, development director, SDC, says: "The importance of stress testing has increased based on the lessons learned from the credit crunch, foremost the possibility of high sigma events and market movements. We have extended the scope of riskpro because over time we have realised clear business advantages through the integration of risk and regulatory reporting. We also appreciate its scalability and modularity."