Software publisher & Integrator
Key4IT is pleased to announce RISKOSOFT INTRANET SOFTWARE SERVICES as one of its exhibitors, in the BI Hall.
Requirement of Investor Relationship Management (Financial Reporting) from January 1st, 2014: Supply Operational Risk data (Costs saving) associated with the Counterparty Credit Risk (CCR)
The legal and technical device is ready to emerge from the global economic and financial crisis from 1 January 2014:
• Although consensus was acquired after the subprime crisis on the cost accounting approach focused on Expected Losses (EL) defining the risk profile or the risk appetite of the Counterparty Credit Risk (CCR), the IRM requirement of the new reporting improving the usefulness and relevance of financial reporting, took three years to be enforceable against the concerned parties.
• The technical device integrates full employment, particularly in the G20 and the mechanisms of self-regulation in real time avoiding the recurrence of such crises.
• The IRM (Investor Relationship Management) device works on the interaction of internal control functions based on operational data providing evidence of value creation of the counterparty credit risk (SME, Large Account and Administration of the State);
• An EU-US committee of Experts and Academics integrating those of all the countries established the Knowledge Board; its objective is to coordinate the international program of Continuing Professional Education (CPE) facilitating the fast adaptation of all the business sectors to the Investor Relationship Management processes.
A/ The legal devices transposing the Basel III agreement in all countries
The directive CRD4 and the regulation CRR integrating into the European law the international reform Basel 3 (December, 2010) have been published in the Official Journal of the European Union on June 26th, 2013 (legislation L176). The new rules will come into effect on January 1st, 2014 for all the European Union countries:
• "Banks as all the companies have to adapt themselves" had warns Jean-Paul Chifflet, President of the French Banking Federation, on 13/03/2013.
Similar to the European Union, the majority of G20 countries and other countries have taken the initiative to implement Basel III in national laws to be in force on 1 January 2014.