Wolters Kluwer Financial Services Selected by Mizuho International plc for Basel III Reporting

  Wolters Kluwer Financial Services Selected by Mizuho International plc for
  Basel III Reporting

 Basel III Solution Chosen to Enable Automation of Bank’s COREP, FINREP, and
                                 LCR Returns

Business Wire

LONDON -- March 27, 2013

Wolters Kluwer Financial Services announced today that a subsidiary of one of
the largest financial institutions in Japan, Mizuho International plc, has
licensed the Common Reporting (COREP), Financial Reporting (FINREP) and
Liquidity Coverage Ratio (LCR) modules of its Basel III solution.

Mizuho International plc has licensed these modules to assist in the
automation of Basel III regulatory reports which were outlined in May 2011 by
the European Banking Authority (EBA) and Financial Services Authority (FSA).
These requirements have been introduced as part of a harmonized reporting
initiative and the new Capital Requirements Directive IV and Basel III, which
outline that all UK firms have to submit new regulatory returns in 2013.

“Although we had worked with Wolters Kluwer Financial Services for many years
and used their product for our reporting capital and Bank of England
reporting, the scale of regulatory change was so vast we were required to step
back and assess all solutions in the market,” said Simon Norris, Executive
Director, Information Systems Department at Mizuho International plc. “We
chose Wolters Kluwer Financial Services again because of the breadth of
reporting, its business model to provide on-going software updates so that we
remain compliant with regulations as they change, and the confidence we have
that Wolters Kluwer Financial Services will continue investing for the long
term.”

Wolters Kluwer Financial Services’ regulatory reporting system is underpinned
by a global regulatory data model, which collates, validates and reconciles
data from multiple sources and back office systems, making it accessible
across the bank as a single auditable data set. With the global regulatory
data model in place, Mizuho International plc will be able to rationalise its
regulatory reporting infrastructure.

“By helping more than 250 firms across Europe with their COREP and FINREP
regulatory reporting returns, we have the experience and expertise to help our
customers such as Mizuho International plc with its Basel III reporting,” said
Stephen Heron, Sales Director UK & Ireland at Wolters Kluwer Financial
Services. “The fact that Mizuho International plc has opted to work with us
for their Basel III programme is a testament to our strong working
relationship, and we look forward to providing our continued high level of
service moving forward.”

As part of the regulatory reporting solution, Mizuho International plc will
have access to Wolters Kluwer Financial Services’ Regulatory Update Service
(RUS). With the RUS, company experts will work with Mizuho International plc
to help remain up-to-date and compliant with the ongoing changes in all
regulatory requirements including; templates, data management and market risk
and credit calculations. Wolters Kluwer Financial Services’ dedicated team of
in-house experts actively monitors regulatory changes in the UK and over 40
other countries around the world, providing updates within the product
subscription.

About Wolters Kluwer Financial Services

Whether complying with regulatory requirements, addressing a single key risk,
or working toward a holistic risk management strategy, more than 15,000
customers worldwide count on Wolters Kluwer Financial Services for a
comprehensive and dynamic view of risk management and compliance. Wolters
Kluwer Financial Services provides audit, risk, finance and compliance
solutions that help financial organizations improve efficiency and
effectiveness across their enterprise. With more than 30 offices in 20
countries, the company’s prominent brands include: FRSGlobal, FinArch, ARC
Logics for Financial Services, Bankers Systems, VMP® Mortgage Solutions,
AppOne®, GainsKeeper®, Capital Changes, NILS, AuthenticWeb™ and Uniform
Forms™. Wolters Kluwer Financial Services is part of Wolters Kluwer, a leading
global information services and solutions provider with annual revenues of
(2012) €3.6 billion ($4.6 billion) and approximately 19,000 employees
worldwide. Please visit our website for more information.

About Mizuho International plc

Mizuho International plc (‘Mizuho International’) is the London based
securities and investment banking arm of the Mizuho Financial Group, Inc., and
is a wholly owned subsidiary of Mizuho Securities UK Holdings Ltd. With a
primary focus on client based activities, its wide range of services includes
sales and trading in both debt and equity securities, the underwriting of new
issues, M&A advisory and securities lending services. Mizuho International is
authorised and regulated by the UK Financial Services Authority and is a
member of the London Stock Exchange and LCH Clearnet Limited. Mizuho
International also has an office in Frankfurt, Germany. More information can
be found at: https://uk.mizuho-sc.com/

Contact:

Wolters Kluwer Financial Services
Jennifer Marso, +1 612-852-7912
Vice President, Corporate Marketing & Communications
Jennifer.marso@wolterskluwer.com
On Twitter: @JenniferMarso
or
Lauren Dearmer, +44 20 7539 6525
Corporate Communications Manager
Lauren.dearmer@wolterskluwer.com
On Twitter: @wolterskluwerfs.com
 
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