FRSGlobal, the only global provider of risk and regulatory compliance solutions on a unified platform with coverage for over 40 countries, today announced that it will make available new report modules that incorporate changes required by the Office of the Superintendent of Financial Institutions (OSFI) Canada for Q1 2010.
OSFI has issued guidance on a significant number of regulatory reporting changes impacting Q1 2010 filings for all Canadian deposit-taking institutions. Through its team of analysts and subject matter experts, FRSGlobal is already working on providing these updates for its clients to ensure timely delivery and compliance with the change in regulatory requirements.
FRSGlobal will provide the following changes to leading Canadian financial institutions:
- Revisions to the Basel ll Capital Adequacy Report (BCAR)
- Updates to the New Credit Risk Reporting (NCR)
- Modifications to statutory and regulatory reports for OSFI, Bank of Canada and Statistics Canada
A number of the leading banks in Canada rely on the FRSGlobal solution to meet all of their regulatory reporting requirements today. All Canadian customers will automatically receive the new report modules as part of the FRSGlobal guaranteed regulatory update service.
Richard Ferrari, Vice President - Americas, FRSGlobal, commented: "Our Centre of Risk & Regulatory Excellence experts have been continually monitoring OSFI and flagging any proposed reporting changes to our development team. Accordingly the new Canadian reports will be available to customers well in advance of the reporting deadline. Our customers around the world depend on us to keep them fully compliant with any changes in their regulatory reporting obligations. It is this level of service which has made FRSGlobal the leading provider of regulatory reporting in Canada."