German mortgage consortium to manage risk with Fermat
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Eurohypo, which offers real estate and public-sector financing, was created in 2002 from the merger of Deutsche Hyp, Eurohypo and Rheinhyp – the real estate and public lending subsidiaries of Dresdner Bank, Deutsche Bank and Commerzbank. Following this, a new technical architecture was required, as well as a common software suite set to monitor risks and to enable global business operations.
The package was sold to Eurohypo by Ubitrade, Fermat’s distributor in Germany.
Hans-Joachim Lübbing, project manager at Eurohypo, said the risk management suite will be used to handle current and upcoming regulatory and economic requirements, including the Basel II Accord and IAS requirements, for asset liability measurement and global credit risk monitoring.