EBRD selects S&P portfolio risk tool

Thomas Diebold, risk manager at the EBRD, cited PRT’s capacity to analyse asset-backed securities and structured products, and its superior ability to "see through the model" and "not see a black box" as its main advantages. He said the transparency in the S&P product allows users to understand the inputs and calculations, and this provides more confidence in its use. For example, there is better user access to marginal value-at-risk figures for each obligor and more flexible customisation, he said.

Diebold also said improved service, including direct access to London-based developers that “cuts down response time” and flexibility to make specific changes, influenced the EBRD’s choice. Moreover, S&P’s offering had a price tag "in the range [the EBRD] could afford", he added.