Banks and securities brokers active in Switzerland and Liechtenstein must periodically report to the authorities. FiRE is an established software in use for 25 years that supports entirely automated reporting to the Swiss National Bank (SNB), the Swiss Financial Market Supervisory Authority (FINMA) and the Liechtenstein Financial Market Authority (FMA).

FiRE is a tried-and-tested solution successfully used for reporting by approximately 230 banks in Switzerland, Liechtenstein and The Bahamas, making it the market leader in regulatory reporting in those countries.

Why is FiRE the right choice?

Multiple regulatory reporting requirements – one solution

FiRE, launched in 1994 with the introduction of Basel I reporting requirements, supports banks and securities brokers active in Switzerland, Liechtenstein and The Bahamas with automated regulatory reporting to the Swiss National Bank (SNB), the Swiss Financial Market Supervisory Authority (FINMA) and the Liechtenstein Financial Market Authority (FMA). It also covers reporting requirements under Basel III.

As a tried-and-tested solution, FiRE uses data from the bank’s back-office and performs the necessary calculations (e.g. risk weighting, country ratings). It then creates the reports in the required forms, additionally allowing for the production of individual statistics for internal reporting.

Banks and securities brokers can count on and profit from BearingPoint’s experience with regulatory authorities. Regular updates of the software cover ever-changing and new rules and regulations, keeping the software always up-to-date. As little as possible is changed in order to keep costs to a minimum and to allow for the reuse of data for different reports.

FiRE covers the following reports for Switzerland

  • SNB statistics
  • Basel III Equity requirements
  • Basel III Large exposure risk
  • Basel III Credit Risk (e.g. SA-CCR)
  • Country risk
  • Market risk
  • Interest rate risk
  • Liquidity risk (e.g. NSFR, LCR)
  • Liquidity Monitoring Tools

FiRE additionally covers the following reports for Liechtenstein:

  • Common solvency ratio reporting (COREP)
  • Financial reporting (FINREP)

FiRE covers the following reports for The Bahamas:

  • Financial returns forms (equity requirements, credit risk, market risk according to Basel III etc.)
  • International banking statistics

FiRE uses the reporting software Report Generator and MS SQL Server as a database. The standard interface RT1 delivers a balance sheet, off-balance sheet, customer securities and an income statement to FiRE.

FiRE is an easy to-use, highly-effective and very reliable legal reporting solution and provides a wide range of functionalities:

  • Standard multi-language and multi-user interface
  • Consolidation features
  • Warning and error lists, which provide the data necessary for correction
  • Database requests with chosen criteria that can be saved in the form of views
  • Delivered data captured and stored in .csv format according to the RT1 data dictionary
  • Production (treatment) of all the SNB statistics
  • Integration of all SNB validation rules
  • Data delivery in the .xml SNB format to the regulatory authorities
  • Audit trails that can show the detailed contents of specific cells as well as the conditions that were at the origin of the calculation
  • Modification options such as the possibility to modify cells in the report form and to add comments and correction possibilities
  • Automatic start of the capture programs
  • Aggregation, which means that the statistics can be created separately or for several entities together
  • Export of reports, datasets and the audit-trail into an Excel file

Functionalities regarding Basel III requirements:

  • Equity capital coverage is based on the same interface used for the SNB statistics
  • Loans and their securities are delivered in the interface and FiRE calculates the optimized equity capital requirements
  • For the calculation of credit risk, within the International Standardized Approach (SA-BIS) FiRE offers both the comprehensive and the simple methods
  • Coverage of LCR and NSFR reporting requirements

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