France-based Bred, one of Banques Populaires regional banks, has extended its use of SunGard Trading and Risk Systems' Panorama credit risk management components to include all on and off balance sheet activities.
Bred says it is extending its SunGard implementation with global credit risk management, which includes an automated CreditVar module that will be used to calculate required risk spreads for trading and banking book products, allowing for better informed decision-making and more efficient use of capital.
Michel Laurent, director of market risk and performance at Bred, comments: "We liked the flexibility of Panorama with which we can create customised reports and easily extend the solution to support new asset classes, such as special French banking instruments."
The bank adds that the extended deployment will help it to prepare for the forthcoming Basel II recommendations.