Fact: LE reporting for the new COREP regime is detailed, demanding and complex
Fact: LE reporting now consists of 6 different reports
Fact: Firms should report two different measures of LE
Each LE being more than 10% of eligible capital
The 10 largest exposures by type, value and maturity
Fact: LE reporting needs to separately show connected groups of counterparties, NACE codes and legal entity identifiers (LEI’s)
This all adds up to a significant reporting burden for any finance department!
Fact: Using ALMIS Capital Adequacy and COREP Reporting can significantly reduce this burden
Firms have previously benefited from using the ALMIS system (Capital Adequacy Module) to monitor, control and report LE. Our enhanced Capital Adequacy and Reporting capabilities give them the power, flexibility and control to automate this process – now even more important to address the more detailed and complex reporting.
Firms need to use the same data to calculate LE as for CR (Credit Risk). The ALMIS system seamlessly integrates and automates CA, CR and LE COREP returns using the Capital Adequacy module. This helps firms by:
Saving time and resources
Reducing input errors
Creating a single consistent version of the data
Providing a more comprehensive audit trail
Giving confidence to the regulators by using a controlled and integrated solution
For more information on how ALMIS can help reduce your LE reporting burden, contact email@example.com