NEW YORK, October 20, 2004– SunGard Trading and Risk Systems, an operating group of SunGard (NYSE:SDS), today announced that UK-based Bradford & Bingley, Plc, has selected SunGard’s Basel II Capital Manager as its technical platform for achieving compliance with the new Basel II regulations 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. Basel II Capital Manager will provide Bradford & Bingley with the ability to fully comply with this approach with the flexibility, transparency and auditability the regulation demands.
Neil Watson, programme director for Basel II at Bradford & Bingley, said, "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, said, "Basel II is creating an urgency among banks to upgrade their entire credit risk management process. To do so, banks must address the exposures arising from both the retail and wholesale sides of the business and determine the appropriate levels of regulatory and economic capital. SunGard’s Basel II Capital Manager helps financial institutions to build a Basel II compliant regulatory capital framework with automated, integrated capital calculations and reporting. It also helps financial institutions to build an integrated economic capital framework that has the potential to add significant value by allowing effective allocation of capital to risky portfolios and the ability to measure profitability against those allocations."