Thanachart Bank Adopts Bloomberg’s Multi-Asset Risk Solution

Thailand’s leading commercial bank adopts Bloomberg’s multi-asset risk solution for greater efficiency and compliance

Bangkok, September 26, 2016 – Bloomberg, the global business and financial information and news leader, today announced that Thanachart Bank, Thailand’s sixth largest bank by asset size, has selected Bloomberg’s multi-asset risk solution (MARS) for counterparty risk management. A subsidiary of Thanachart Group, Thanachart Bank will be adopting MARS to recognize and report the credit value adjustment (CVA) on its over-the-counter derivative contracts.

Bloomberg’s suite of risk management solutions provides unparalleled pricing data, real-time valuation and risk, comprehensive market and counterparty risk management, rigorous stress-testing and collateral management for cross asset portfolios.

“Bloomberg’s comprehensive risk management and reporting tool meets our requirements, especially in the face of compliance and regulatory changes, and volatile global financial markets,” said Lalit Dharmaseri, Executive Vice President of Treasury & Debt Capital Markets of Thanachart Bank.  “With MARS counterparty risk management solution, we are able to align our portfolios to global accounting standards and gain full oversight of our counterparty exposure levels across instruments and portfolios.”

The Federation of Accounting Professions of Thailand (FAP), Thailand’s official accounting standards-setting body, made a public commitment towards adopting the International Financial Reporting Standards. This includes IFRS 13 where fair value measurement is required to be reported on all assets and liabilities.

“Evolving regulations, technology and advanced analytics will continue to shape the risk infrastructure of banks globally,” said Jose Ribas, Bloomberg’s Global Head of Derivatives, Cash Structured Products Risk & Treasury Management Solutions. “Thanachart Bank is leading the way in establishing best-of-breed compliance and risk functions that will help prepare for and mitigate any counterparty, market and credit risks that could impact their business.”

About Thanachart Bank

Thanachart Bank Public Company Limited is a member of Thanachart Group–a financial conglomerate which has been in business for over 35 years.  Beginning its operations on 22 April 2002, Thanachart Bank is now Thailand’s 6 ^th largest commercial bank in terms of number of branches with more than 600 branches nationwide.  The Bank’s full financial services include deposits, loans, securities brokerage, fund management, and insurance.  For more information, please contact any of Thanachart Bank’s branches nationwide or visit www.thanachartbank.co.th

About Bloomberg

Bloomberg, the global business and financial information and news leader, gives influential decision makers a critical edge by connecting them to a dynamic network of information, people and ideas. The company’s strength – delivering data, news and analytics through innovative technology, quickly and accurately – is at the core of the Bloomberg Professional service. Bloomberg’s enterprise solutions build on the company’s core strength: leveraging technology to allow customers to access, integrate, distribute and manage data and information across organizations more efficiently and effectively. For more information, visit www.bloomberg.com or request a demo.

Media Contacts

Bloomberg LP

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