Lewtan to supply securitisation platform to RBA
03 April 2014 | 1274 views | 0
Lewtan today announced that, as a result of an open tender process, the Reserve Bank of Australia has awarded a contract to Lewtan Australia Pty Ltd to supply and support the RBA Securitisations System.
RBA had been seeking a systems solution to enhance risk analysis of eligible securities, including under the soon-to-be-established Committed Liquidity Facility ("CLF"). The CLF has been established as part of Australia's implementation of the Basel III liquidity reforms.
RBA's key business requirements for this solution included a system which will:
• Collect the securitizations data required to be reported to the RBA under the new repo eligibility requirements for securitizations;
• Validate the securitizations data collected by the RBA under the new repo eligibility requirements for securitizations; and
• Provide data staging to facilitate validation requirements and the transfer of data to a data warehouse which will store the data in a structured manner such that RBA can perform reporting and analysis on the data.
"Lewtan is honored to be engaged with the Reserve Bank of Australia, the central bank of a major economic power and a significant U.S. trading partner," says Salil Donde, CEO of Lewtan. "Lewtan has worked with some of the largest banks in the world, counting several of the world's central banks and government regulators as our customers, and this contract with the RBA more than reinforces Lewtan's premier status as the securitization industry standard."