Bradford & Bingley signs to SunGard Basel II Capital Manager
21 October 2004 | 5356 views | 0
UK-based Bradford & Bingley has selected SunGard's Basel II Capital Manager as its technical platform for achieving compliance with the new capital adequacy rules and for ongoing retail and wholesale credit risk management.
Bradford & Bingley has chosen Basel II's Advanced Internal-Ratings Based (IRB) Approach for credit risk.
Neil Watson, programme director for Basel II at Bradford & Bingley, says: "For us, a mid-sized UK trading bank dealing with a large residential and commercial mortgage portfolio and treasury operation, SunGard's Capital Manager offers the features and functionality we need in our technical platform with the transparency and auditability that Basel II drives."
Dean Jovic, executive vice president risk management/Basel II at SunGard Trading and Risk Systems, says the new regulations are creating an urgency among banks to upgrade their entire credit risk management process.