Rabobank is to offer online updates of the market value of outstanding corporate treasury transactions as part of an improved risk management advisory package for the corporate market.
The Dutch bank says it intends to take advantage of more stringent internal guidelines and procedures to expand the range of consultancy services for domestic corporate clients. From 1 January 2003 the bank is promising to determine on a daily basis whether the current derivatives' position of its clients is still in line with the originally-agreed framework.
The bank says account managers have been trained to formulate mutually agreed risk profiles for their clients in accordance with Isda guidelines and Dutch regulations.
As part of the package, corporate clients will be able to visit www.rabotreasuryweb.nl on a daily basis to track the development of the market value of their outstanding treasury deals. Account managers and clients will be alerted by e-mail if pre-set limits look likely to be breached.
Paul Dirken, director of corporate clients Rabobank Nederland, says the new working method is in line with the International Accounting Standards that will come into effect in 2005.
"We want to send a clear signal to our corporate clients by accepting responsibility for a careful and transparent mutual relationship," he says. "Analysing the client's knowledge level and business situation in this way makes it possible to carefully fine-tune products accordingly."