Bayerische Landesbank licenses the Principia System

Bayerische Landesbank licenses the Principia System

Germany's Bayerische Landesbank has licensed technology from New Jersey-based Principia Partners to administer its asset-backed commercial paper (ABCP) conduit administration business.

The bank will use the Principia System - which provides portfolio management, risk management, compliance reporting and accounting functions - to maintain the assets it finances through its ABCP conduits, including asset-backed securities (ABS) and mortgage-backed securities (MBS), as well as the commercial paper that it issues.

Frank Tallerico, VP, structured products, Bayerische Landesbank, says: "The Principia System provides a stable platform that will be instrumental in helping our conduit administration group more easily meet rigorous compliance reporting obligations, as well as more efficiently manage day-to-day operations."

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