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RiskAvert enriched with new capabilities for NPE and IRRBB ahead of final regulatory announcement

Profile Software, an international financial solutions provider, announced today the enrichment of RiskAvert with new capabilities like the introduction of the NPE Prudential Backstop and the Interest Rate Risk in the Banking Book (IRRBB) modules.

In particular, RiskAvert the comprehensive risk management platform for capital adequacy, was enhanced to incorporate the NPE Prudential Backstop module that enables Financial Institutions to meet regulatory requirements for the calculation and reporting of minimum losses for NPEs.

The module fully covers the calculation of minimum loss coverage amount for non-performing exposures (NPEs), in line with the provisions of Regulation (EU) 2019/630. It also covers all the relevant reporting requirements of EBA Reporting Framework, regarding NPE Loss coverage.

The rules for the “Prudential Backstop” set a binding minimum level of loss coverage that banks must set aside as a buffer to absorb losses for newly originated loans that become non-performing after the enforcement of the specific regulation (April 2019).

In addition, RiskAvert has also been enriched with the development of the updated version of Interest Rate Risk in the Banking Book (IRRBB) module that supports the EU prudential Banking supervision and regulatory reporting requirements. This newly launched version of IRRBB is introduced well ahead of the final regulatory technical standard and the forthcoming delegated regulation which is currently under consultation and expected to be finalised by April 2022. The forthcoming regulation introduces methodologies where the NII (Net Interest Income) differs from that of EVE (Economic Value of Equity), as well as the simplified standardised approach.

With these enhancements financial institutions in the Eurozone will better further facilitate their processes to efficiently meet their CRR/CRD related requirements and safeguard their business operations effectively. RiskAvert has been developed to help organisations achieve their business goals pertinent to compliance through an intuitive, automated and flexible platform.