London – 20 Februaury 2014 – BNP Paribas Securities Services, a global custodian with around USD 8 trillion in assets under custody, today announced the launch of a new reporting tool enabling intraday liquidity monitoring for investment banks, which will allow them to meet a key recommendation emerging from the Basel Committee on Banking Supervision (BCBS) proposals.
The service allows BNP Paribas to deliver customised reports on cash account balances across the globe, using its existing ‘Neolink’ web portal for clients. The first launch of the tool, to which several clients are already subscribed, sees reports on intra-day and end of day balances on multiple accounts delivered at predetermined times of day to specified recipients within the client organisation. Further roll-outs are expected as clarity emerges over the particular requirements of regulators across Europe.
Beatrice Le Terrec, head of business development for market and financing services, BNP Paribas Securities Services, said, ‘Aside from regulatory preparedness, which is a key concern for our clients, we have seen increasing requests for tools to provide a better view of liquidity for our clients. We can help them to manage their cash accounts on an intraday basis and optimise their liquidity use.’
Following the BCBS recommendations, banks may be required by a number of local regulators to supply reports on liquidity levels, starting from January 2015. The new service from BNP Paribas allows clients to prepare for the recommendations by having fully functional intraday reporting of their liquidity well ahead of the impending regulatory shift.
Jonathan Taylor, BNP Paribas Securities Services +44 207 410 3242
About BNP Paribas
BNP Paribas (www.bnpparibas.com) has a presence in nearly 80 countries with 190,000 employees, including 145,000 in Europe. It ranks highly in its three core activities: Retail Banking, Investment Solutions and Corporate & Investment Banking. In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the leader in consumer lending. BNP Paribas is rolling out its integrated retail banking model across Mediterranean basin countries, in Turkey, in Eastern Europe and a large network in the western part of the United States. In its Corporate & Investment Banking and Investment Solutions activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas and solid and fast-growing businesses in Asia-Pacific.
About BNP Paribas Securities Services
BNP Paribas Securities Services (http://securities.bnpparibas.com), a wholly-owned subsidiary of the BNP Paribas Group, is a leading global custodian and securities services provider backed by the strength of a universal bank. It provides integrated solutions to all participants in the investment cycle including the buy-side, sell-side, corporates
Covering over 100 markets, with our own offices in 34 countries, the BNP Paribas network is one of the most extensive in the industry. We bring together local insight and a global network to enable clients to maximize their market and investment opportunities worldwide.
Key figures as of 31 December 2013: USD 8,055 billion assets under custody, USD 1,442 billion assets under administration, 7,067 administered funds and 8,225 employees.
The information contained within this document (‘information’) is believed to be reliable but BNP Paribas Securities Services does not warrant its completeness or accuracy. Opinions and estimates contained herein constitute BNP Paribas Securities Services’ judgment and are subject to change without notice. BNP Paribas Securities Services and its subsidiaries shall not be liable for any errors, omissions or opinions contained within this document. This material is not intended as an offer or solicitation for the purchase or sale of any financial instrument. For the avoidance of doubt, any information contained within this document will not form an agreement between parties. Additional information is available on request.
BNP Paribas Securities Services is incorporated in France as a Partnership Limited by Shares and is authorised and supervised by the ACPR (Autorité de Contrôle Prudentiel et de Résolution ) and the AMF (Autorité des Marchés Financiers).
BNP Paribas Securities Services, London branch is authorised by the ACPR, the AMF and the Prudential Regulation Authority and is subject to limited regulation by the Financial Conduct Authority and Prudential Regulation Authority. Details about the extent of our authorisation and regulation by the Prudential Regulation Authority and regulation by the Financial Conduct Authority are available from us on request. BNP Paribas Securities Services, London branch is a member of the London Stock Exchange. BNP Paribas Trust Corporation UK Limited (a wholly owned subsidiary of BNP Paribas Securities Services), incorporated in the UK is authorised and regulated by the Financial Conduct Authority.
In the U.S., BNP Paribas Securities Services is a business line of BNP Paribas which is incorporated in France with limited liability. Services provided under this business line, including the services described in this document, if offered in the U.S., are offered through BNP Paribas, New York Branch, 787 Seventh Avenue, New York, New York 10019 (which is duly authorized and licensed by the State of New York Department of Financial Services) or if a securities product, through BNP Paribas Securities Corp. or BNP Paribas Prime Broker, Inc., each of which is a broker-dealer registered with the Securities and Exchange Commission and a member of SIPC and the Financial Industry Regulatory Authority.