The Federal Home Loan Bank of Des Moines has selected SimCorp Dimension for front-to-back, cross asset investment management.
Under this new agreement, the Bank will utilize SimCorp Dimension across the majority of its balance sheet operations, worth approximately USD 150 billion. The solution will cover investment securities, consolidated obligation debt securities, advances and derivatives (including hedge accounting).
As one of 11 regional banks in the Federal Home Loan Bank System, FHLB Des Moines’ mission is to provide funding and liquidity for the Bank’s members and housing associates, so they can meet the housing, economic development and business needs of the communities they serve.
FHLB Des Moines treasurer Bill Bemis said: “A scalable and efficient operating infrastructure is key to the success of our mission. To that end, we found SimCorp’s cross asset platform ideal to unify our four major business activities, securities, derivatives, consolidated obligations (debt issuance), and collateralized advances.
“SimCorp’s all-in-one platform capabilities are well-suited to our business and operational needs.”
“We are extremely proud to add FHLB Des Moines to our growing list of government-sponsored enterprise clients,” notes James Corrigan, Executive Vice President and Managing Director of SimCorp North America.
“FHLB Des Moines is among the most progressive organizations with the vision and commitment to onboard technology and automation in support of broader business mandates for liquidity management, operating efficiency, risk management and regulatory compliance.”
SimCorp provides integrated, best-in-class investment management solutions to the world’s leading asset managers, fund managers, asset servicers, pension and insurance funds, wealth managers and sovereign wealth funds.
Whether deployed on premise or as an ASP solution, its core system, SimCorp Dimension, supports the entire investment value chain and range of instruments, all based on a market-leading IBOR.
Source: Company Press Release