2006
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21 November 2006 GAX Technologies launches BASEL II reporting solution for Luxembourg banks Luxembourg banks will need to report Basel II capital requirements to CSSF (Commission de Surveillance du Secteur Financier) by 1 January 2008. GAX Technologies, the IT solutions company, announces the development of its Basel II regulatory reporting module specifically designed for Luxembourg banks to meet CSSF requirements. GAX Technologies' Basel II module is targeted at small- to medium-sized banks. It is competitively priced and designed for rapid implementation. Its browser-based technology has a user-friendly interface and supports an easy to use reporting function. The module will · Compute the capital requirement credit risk and operational risk · Generate the regulatory COREP reports required by the CSSF · Calculate the solvency ratio GAX Technologies Managing Director Cornelia den Hartog said, "Most reporting software on the market is very expensive and sophisticated It doesn't meet the standard requirements for the small to medium-sized Luxembourgish Banks and entails high costs and a long implementation phase. GAX Technologies' Basel II application is ideal for Luxembourg banks that want a solution that suits their size and activities' |
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