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We are always interested in speaking to members of the media on news and events affecting the world of corporate credit risk. We look forward to hearing from you.
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For Immediate Release
Moody’s KMV and TLC Consulting to Offer Regulatory Capital Calculator to Meet Basel II Guidelines
SAN FRANCISCO and LONDON, October 11, 2004 - Moody’s KMV and London-based TLC Consulting today announced that they have established a strategic alliance under which they will offer banks and other entities the capability to calculate regulatory capital requirements under Basel II.
Moody’s KMV, the leading provider of quantitative credit risk analysis tools to lenders, investors, and corporations, plans to offer a regulatory capital calculator developed by TLC as an add-on to its widely used Portfolio Manager application, which is used to assess portfolio credit risk and return. The enhancement will allow Portfolio Manager clients to calculate both economic and regulatory capital on a consistent basis, said Moody’s KMV.
The alliance will leverage the expertise of TLC, an independent software house and business domain consultancy serving the banking sector. The firm has developed software called barracuda that calculates regulatory capital across an institution using the Standardised, IRB Foundation, and IRB Advanced approaches set forth by the Basel II guidelines. Under the Moody’s KMV implementation, users will be able to view and report results by various categories such as country, currency, product, division/branch, counterparty, and rating.
“This alliance offers a number of benefits for Moody’s KMV, as we continue to develop a complete range of Basel II and corporate credit risk solutions for our client base,” said Andrew Porter, Head of Business Development at Moody’s KMV. “By working with TLC, we will be able to bring this capability to market in a timely fashion and add TLC’s considerable Basel II expertise to our own domain acumen.”
The partners said they may also offer barracuda for integration with third-party and in-house systems and are in discussions with major integration and technology partners to support this initiative.
“TLC is tremendously excited to be working with Moody’s KMV on this project,” said Adam Starr, Chief Operating Officer at TLC. “We are happy to help Moody’s KMV extend their solution set to include best-of-breed regulatory capital reporting capabilities. At the same time we have been looking for a branded partner in the credit space that would provide significant credibility and distribution capabilities. Moody’s KMV was the natural choice.”
The partnership with TLC was pursued as part of the Moody’s KMV global alliance program, through which the firm seeks to augment its development, integration and distribution capabilities.
About Moody’s KMV
Moody’s KMV, a wholly owned subsidiary of Moody's Corporation, is the world’s leading provider of quantitative credit risk analysis tools to lenders, investors, and corporations. Moody’s KMV's tools provide current default probabilities, recovery estimates, valuations and correlations, and are widely used to assess portfolio risk/return. Serving over 2,000 clients in 80 countries, including most of the world's 100 largest financial institutions, Moody’s KMV maintains the largest and cleanest database of corporate defaults in the world. In addition to its San Francisco headquarters, Moody’s KMV has offices around the world to serve its global customer base.
About Moody's Corporation
Moody's Corporation (NYSE: MCO) is the parent company of Moody's Investors Service, a leading provider of credit ratings, research and analysis covering debt instruments and securities in the global capital markets, and Moody's KMV, the leading provider of market-based quantitative services for banks and investors in credit-sensitive assets serving the world's largest financial institutions. The corporation, which reported revenue of $1.2 billion in 2003, employs approximately 2,300 people worldwide and maintains offices in 18 countries. Further information is available at www.moodys.com.
About TLC Consulting
TLC Consulting is an independent software house and business domain consultancy serving the banking sector. The TLC approach is distinguished by a combination of deep business knowledge and experience and technology expertise applied in a structured way. TLC’s primary focus is in the areas of credit, operational and market risk for Basel II compliance.
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