Algorithmics publishes practitioners’ guide to Dodd-Frank
Algorithmics’ risk and capital management experts today launched the first comprehensive review of the Wall Street Reform and Consumer Protection Act to help affected firms and their employees formulate action plans to meet the new regulations.
London, Toronto – 1st April, 2011 – Algorithmics’ risk and capital management experts today launched the first comprehensive review of the Wall Street Reform and Consumer Protection Act to help affected firms and their employees formulate action plans to meet the new regulations. Despite much coverage of the Act since being signed into law in July last year, there remains a need for more clarity as to what each bank or individual banker needs to do in response.
Gabriella Symeonidou, Algorithmics’ researcher and co-author of the report, ‘Dodd-Frank Wall Street Reform and Consumer Protection Act: Business Model Implications’, says: “The Act is definitely a step closer to a stronger and better regulated economy. However, the lengthy transition periods and numerous exemptions will hinder smooth implementation of the new requirements, and risk causing ambiguity within financial institutions and regulatory agencies.”
Co-author of the report, Mario Onorato, Head of Balance Sheet Risk and Capital Management at Algorithmics, and Honorary Senior Lecturer at Cass Business School, London, says: “To help practitioners better identify and adopt appropriate approaches for their banks for compliance, long term stability and continued growth, Algorithmics has reviewed the full contents of the Act and assessed the practical implications from the practitioners’ perspective.”
Institutions are already, reportedly, finding the inconsistencies that will limit the impact on earnings that the Act is expected to bring about. However, Algorithmics believes that institutions will need to understand the fundamentals of the changes that are coming in order for the risk, financial and business management teams to put in place the structure, systems and process to adapt advantageously.
For a copy of the report, ‘Dodd-Frank Wall Street Reform and Consumer Protection Act: Business Model Implications’ visit: http://www.algorithmics.com/EN/media/pdfs/Algo-WP0111-Dodd-Frank.pdf
For more information about Algorithmics' balance sheet risk management solutions, please visit: http://www.algorithmics.com/
For further information please contact:
Heather Smith, Senior Communications Manager, Algorithmics (UK) Ltd
Direct line +44 (0) 20 7392 5820 Mobile+44 (0) 7515 974223
Notes to Editors:
Photographs of the authors are available.
Algorithmics is the world's leading provider of risk solutions. Financial organizations from around the world use Algorithmics' software, analytics and advisory services to help them make risk-aware business decisions, maximize shareholder value, and meet regulatory requirements. Supported by a global team of risk experts based in all major financial centers, Algorithmics offers proven, award-winning solutions for market, credit and operational risk, as well as collateral and capital management. Algorithmics is a member of the Fitch Group. http://www.algorithmics.com/
Balance Sheet Risk Management is integral to an organization’s strategic decision making, because the solution helps to measure and control the risk associated with liquidity, interest rates and its full range of assets, liabilities, and off-balance-sheet items. Balance Sheet Risk Management presents a firm’s decision makers with a full range of data management and analysis applications to support their determination of risk tolerance levels. These levels are designed to optimize growth, profitability, and long-term gains in capital value.
Fitch Group is the parent company of Fitch Ratings, a global ratings agency committed to providing the world's markets with independent, timely and prospective credit opinions. With 49 offices worldwide, Fitch Ratings’ global expertise spans across capital markets in over 150 countries. Fitch Ratings is headquartered in New York and London.
The Fitch Group also includes Fitch Solutions, a distribution channel for Fitch Ratings products and a provider of data, analytics and related services; and Algorithmics, the world's leading provider of enterprise risk solutions.
The Fitch Group is a majority-owned subsidiary of Fimalac, S.A., headquartered in Paris, France.
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