Thanachart Bank adopts Bloomberg’s multi-asset risk platform

Bloomberg, the global business and financial information and news leader, today announced that Thanachart Bank (BKK:TCAP), Thailand’s sixth largest bank by asset size, has selected Bloomberg’s multi-asset risk solution (MARS) for counterparty risk management.

A subsidiary of Thanachart Group, Thanachart Bank will be adopting MARS to recognize and report the credit value adjustment (CVA) on its over-the-counter derivative contracts.

Bloomberg’s suite of risk management solutions provides unparalleled pricing data, real-time valuation and risk, comprehensive market and counterparty risk management, rigorous stress-testing and collateral management for cross asset portfolios.

“Bloomberg’s comprehensive risk management and reporting tool meets our requirements, especially in the face of compliance and regulatory changes, and volatile global financial markets,” said Lalit Dharmaseri, Executive Vice President of Treasury & Debt Capital Markets of Thanachart Bank.  “With MARS counterparty risk management solution, we are able to align our portfolios to global accounting standards and gain full oversight of our counterparty exposure levels across instruments and portfolios.”

The Federation of Accounting Professions of Thailand (FAP), Thailand’s official accounting standards-setting body, made a public commitment towards adopting the International Financial Reporting Standards. This includes IFRS 13 where fair value measurement is required to be reported on all assets and liabilities.

“Evolving regulations, technology and advanced analytics will continue to shape the risk infrastructure of banks globally,” said Jose Ribas, Bloomberg’s Global Head of Derivatives, Cash Structured Products Risk & Treasury Management Solutions. “Thanachart Bank is leading the way in establishing best-of-breed compliance and risk functions that will help prepare for and mitigate any counterparty, market and credit risks that could impact their business.”

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