OCC Selects Kamakura to Provide Probability of Default Data for Public Firms and Sovereigns

OCC signs for five year subscription to Kamakura Risk Information Services

Kamakura Corporation reported Tuesday that the Office of the Comptroller of the Currency selected Kamakura to provide the Agency with probabilities of default for U.S. and international public firms and sovereigns through its KRIS subscription service. The RFP solicitation for this data was done in accordance with Federal Contracting procedures. The criteria for selection included the technical approach, past performance and cost of the service. Kamakura has been providing this service to the OCC since 2009.

The OCC was established in 1863 as an independent bureau of the U. S. Department of the Treasury. Its primary mission is to charter, regulate and supervise all national banks and savings associations to ensure that they operate in a safe and sound manner and are in compliance with laws requiring fair treatment and access to credit and financial products.

Martin Zorn, Chief Administrative Officer for Kamakura Corporation, said Thursday, “We are extremely pleased to have earned this contract award. The OCC is a very sophisticated client and is a leader in using advanced risk management techniques in its efforts to ensure a safe financial system. Having been the incumbent provider of default probabilities, we appreciate the confidence that the Agency has in the quality of our data and systems to have awarded us this new contract. We look forward to working with the OCC as we continue to enhance and expand our risk modeling on a global basis.”

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