London software testing news UK


Stress testing (of sorts)

Posted in Acceptance testing by testing in London on June 26, 2008

From Street Insider

At this week’s Financial Managers Society’s 2008 Finance & Accounting Forum, Greg Doner, CEO of FIMAC Solutions, the industry leader in standalone CRE stress testing solutions, gave a key presentation about Commercial Real Estate Stress Testing to senior executives from the nation’s top financial institutions.

“For the past two years, the Federal Deposit Insurance Corporation, the Office of the Comptroller of Currency, the Federal Reserve Board and the Office of Thrift Supervision have warned about the levels of sector risk within the commercial real estate loan portfolios of U.S. financial institutions. This year the regulators’ cry for lenders to implement CRE stress testing has become louder than ever,” said Doner, a 20-year bank veteran himself.

“Many of the nation’s 8000-plus community banks have been thwarted when it comes to CRE stress testing, mainly because of the high costs associated with bringing in an outside consulting firm to stress the loans and analyze an organization’s entire portfolio. But there is a pressing need for lenders to segment their CRE portfolios and analyze risk by sector; this is something that regulators have been very vocal about in 2008.”

FIMAC, an experienced developer of risk management software for the banking industry, made the decision to create a standalone CRE stress testing software solution that banks, savings and loans, credit unions and other financial institutions can begin using in-house this summer to satisfy regulatory need.

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