SS&C Technologies, a global provider of financial services software and software-enabled services, today previewed the release of CAMRA's Syndicated Loans module at the IASA 2008 Annual Educational Conference and Business Show in Seattle, Washington.
The new module provides integrated support for the processing of bank debt for the front, middle and back offices of firms investing in Syndicated Loans.
In partnership with a large insurance client, SS&C has developed the capability to track and account for bank debt including Revolver Loans, Term Loans, Delayed Draws and Letters of Credit. For insurance companies the module also includes full support for Schedule D and related insurance regulatory reporting.
"With the increasing volumes of bank debt being traded, there is a need for technology that integrates the processing of bank debt investments," said Bill Stone, Chairman and CEO, SS&C Technologies, Inc. "CAMRA's Syndicated Loans module, as part of CAMRA's investment accounting and reporting platform, provides the support needed to manage this complex asset class without having to rely on spreadsheets or specialty systems which make it more difficult to control your investment and reporting processes."
As insurance and asset management markets becomes progressively more regulated, clients are in need of solutions that support all of their statutory, GAAP (Generally Accepted Accounting Principles) and tax accounting and reporting requirements across all asset classes. As part of the CAMRA Syndicated Loans release, all bank debt activities are assimilated in CAMRA to produce streamlined reporting and full financial accounting.