Bank of China Singapore Branch (BOCSG) has implemented AxiomSL liquidity solution to comply with the Monetary Authority of Singapore (MAS) 649 liquidity reporting requirements for its Singapore business.
BOCSG opted for the AxiomSL integrated platform to facilitate the bank’s strategic liquidity risk management and regulatory reporting.
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The deployment covers a comprehensive suite of asset classes and all key functions of the liquidity risk management cycle including data management to cash-flow generation, asset classifications, liquidity calculations, integrated management as well as regulatory reporting.
BOCSG deputy head of financial management department Ng Woon Kong said: "We chose AxiomSL because of its integrated Basel III liquidity calculation and regulatory reporting platform. We value their platform’s flexibility and ability to address our needs to set up a solid foundation that can integrate with BOC’s source data given the limited time frame.
"Allan Chin, AxiomSL’s Country Manager, together with his team have demonstrated how AxiomSL has infused their knowledge of MAS regulation into their proven MAS 649 reporting solution, and the ability to assist us to meet the MAS 649 reporting mandate.
"The implementation of AxiomSL’s solution exhibits Bank of China Singapore Branch’s determination to commit resources to strive towards further enhancement of our liquidity risk management processes to cope with our increased business presence in Singapore."
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