Lewtan will supply and support the RBA Securitisations System used for risk management and analysis
WALTHAM, Mass., April 3, 2014 /CNW/ - Lewtan today announced that, as a result of an open tender process, the Reserve Bank of Australia has awarded a contract to Lewtan Australia Pty Ltd to supply and support the RBA Securitisations System.
RBA had been seeking a systems solution to enhance risk analysis of eligible securities, including under the soon-to-be-established Committed Liquidity Facility ("CLF"). The CLF has been established as part of Australia's implementation of the Basel III liquidity reforms.
RBA's key business requirements for this solution included a system which will:
- Collect the securitizations data required to be reported to the RBA under the new repo eligibility requirements for securitizations;
- Validate the securitizations data collected by the RBA under the new repo eligibility requirements for securitizations; and
- Provide data staging to facilitate validation requirements and the transfer of data to a data warehouse which will store the data in a structured manner such that RBA can perform reporting and analysis on the data.
"Lewtan is honored to be engaged with the Reserve Bank of Australia, the central bank of a major economic power and a significant U.S. trading partner," says Salil Donde, CEO of Lewtan. "Lewtan has worked with some of the largest banks in the world, counting several of the world's central banks and government regulators as our customers, and this contract with the RBA more than reinforces Lewtan's premier status as the securitization industry standard."
About Reserve Bank of Australia
The Reserve Bank of Australia (RBA) is Australia's central bank and derives its functions and powers from the Reserve Bank Act 1959. Its duty is to contribute to the stability of the currency, full employment, and the economic prosperity and welfare of the Australian people. It does this by setting the cash rate to meet an agreed medium-term inflation target, working to maintain a strong financial system and efficient payments system, and issuing the nation's banknotes. The RBA provides certain banking services as required to the Australian Government and its agencies, and to a number of overseas central banks and official institutions. Additionally, it manages Australia's gold and foreign exchange reserves.
Lewtan offers a wide range of data, software, and analytics solutions to the global asset-securitization industry. Lewtan provides risk assessment and valuation while facilitating greater transparency, better decision-making, and greater access to capital in the global financial services markets. Lewtan's flagship products for the securitization platform, ABSNet and the ABS System, unite the data flow between the hundreds of issuers and investors that Lewtan serves. More than 300 institutions worldwide rely on Lewtan's intelligence and surveillance solutions, and the company has twice been named Global Technology Provider of the Year by the International Securitisation Report. More information is available at www.lewtan.com.
For further information:
Ned Myers, Senior Vice President, +1 781-672-1110, firstname.lastname@example.org