Partnership enables banks to be ready for forthcoming FSA liquidity management and reporting requirements

London, 15 September 2009: Quadrant, a specialist GRC consulting firm and supplier of Business Intelligence and Risk and Compliance solutions for Financial Services Institutions, and Spring Programs Limited, an industry leader in regulatory reporting solutions for Financial Services Authority (FSA) and other financial regulators’ requirements, today announced a partnership to deliver a comprehensive liquidity risk management and regulatory reporting solution. Banks are facing substantial fines if they do not comply with the forthcoming FSA liquidity reporting requirements established to ensure the effective management of liquidity risk in light of the recent economic crisis. Banks will benefit from the liquidity management capability of the Quadrant Intelligence Centre for Liquidity which will combine seamlessly with their established regulatory reporting infrastructure.

SPRiNG is Spring Programs regulatory reporting solution which is already used by many banks for reporting to financial regulators including the FSA and the Bank of England. The Quadrant Intelligence Centre for Liquidity is Quadrant’s customisable solution for liquidity management. It includes the information models and tools to access information from operational systems on a timely basis together with facilities for stress and scenario testing, tracking results and comparing actual results with projections. The Quadrant Intelligence Centre for Liquidity interfaces directly to the SPRiNG regulatory reporting system which will produce reports compliant with the new regulations. The solution will help banks to manage liquidity risk on a timely basis, and enable them to meet the FSA’s significant new regulatory requirements for liquidity reporting due to take effect from 1^{st April 2010.}

Jenkyn Kennedy, Managing Director, Spring Programs said, "Partnering with Quadrant combines our established regulatory reporting solution with Quadrant’s analytic and stress testing capability, to offer our client base an integrated liquidity management and reporting solution to meet the new FSA regulations."

Paul Lockyear, CEO, Quadrant said, "With the imminent arrival of the new FSA liquidity regulations banks must act quickly to be fully prepared. With SPRiNG and a ready-made, flexible solution such as the Quadrant Intelligence Centre for Liquidity, banks will be able to comply with the new regulations in accordance with the FSA’s timescale."

About Spring Programs

Spring Programs Ltd was the first company to develop software specifically for Bank of England reporting back in 1987 and has been at the forefront of UK regulatory reporting ever since. High level support of the existing customer base is the company’s primary philosophy. The SPRiNG software is constantly updated to comply with the requirements of the reporting authorities, and customers are kept up to date with any new developments in regulatory reporting or any functionality updates to the software itself. Included in the customer annual maintenance agreement is the second-to-none hotline support, where users are given direct access to key technical personnel by telephone or e-mail. The extensive experience of SPRiNG’s hotline support staff means that users can have their questions answered rapidly and accurately allowing them to return to their important reporting work quickly.