Swedbank selected SunGard's Ambit solutions to perform stress testing for idiosyncratic, market-wide and combined scenarios, which will assist in the bankâs contingency planning and in managing liquidity. As a result of the global regulations on stress testing liquidity, the Swedish Finansinspektionen (FSA) issued a policy statement in Q4 2010 for all Swedish banks. SunGardâs Ambit will help Swedbank to better measure its liquidity and comply with the new regulations.
Gunilla Domeij-Hallros, senior vice president of group treasury at Swedbank, said, âOne of our main objectives is to be able to demonstrate to both clients and regulators that our banking operation is robust and conservatively managed with strong systems to manage risk and liquidity.Because of SunGardâs knowledge of global regulations and its regional presence in the countries we service, we will be able to implement an intuitive, comprehensive risk management system to help us meet regulatory requirements, as well as identify and simulate strategies that can help minimize the cost of and exposure to liquidity risk.â
Andreas Hug, managing director of SunGardâs Ambit Risk & Performance Management business unit, commented, âLack of liquidity was one of the prime causes for the global financial crisis. SunGardâs Ambit Risk and Performance Management solutions help our customers comply with industry regulations as well as focus on more rigorous stress testing to increase transparency. This can help banks like Swedbank to manage liquidity and maturity transformations for their client deposits across different asset classes and major currencies, while complying with the new Swedish regulations.â