London, UK, 15th July 2008, Quadrant today announced that AB Parex Bankas (Lithuania) has successfully completed the implementation of its SAB2 Basel II Standardised Approaches compliant capital adequacy reporting solution. The reporting is based on the COREP (Common Reporting Framework) specified by CEBS (The Committee of European Supervisors), localised to the requirements of the Lithuanian regulator.
Paul Lockyear, CEO Quadrant, said, âWe are delighted to achieve this successful implementation of SAB2 for regulatory reporting at AB Parex Bankas in Lithuania.â
Linas Skridaila, CIO of AB Parex Bankas (Lithuania) said, âWe have successfully completed our implementation of Quadrantâs SAB2 solution for Basel II reporting enabling us to be fully compliant with the requirements of the Lithuanian regulator. The project went smoothly and we really appreciated the practical support provided by Quadrant, from both the technical and more importantly the domain perspective.â