The Federal Home Loan Bank of Atlanta (FHLB)
Jacksonville Florida, September 24, 2008 - Rockall Technologies, a leading provider of Enterprise Collateral Management Solutions to the financial services industry, is delighted to announce that their STOC solution,systematic tracking of collateral management,was selected by the Federal Home Loan Bank of Atlanta (FHLBank Atlanta). FHLBank Atlanta will implement STOC to allow real-time management of multiple types of collateral pledged by its borrowing member banks. The Rockall solution is unique in its integration capability with other banking systems, securities custodians and market pricing systems to accept and provide additional data so that lending positions can be calculated accurately, exceptions to policy may be securely managed and general reporting and or inquiry functions are easily available to the bank’s users.The STOC solution allows the automation of the management, tracking and valuation of liquid and whole loan collateral. Liquid collateral and loan assets are analyzed for eligibility based on predetermined business policies, valued via multiple market sources and haircuts are applied. The STOC solution provides state-of-the-art functionality to allow the bank to minimize risk but at the same time provide a more efficient service to its customers. At FHLBank Atlanta, this results in a more attractive all-in cost of borrowing for customers and an enhancement to the value of FHLBank membership. Today, the Rockall system has 5,000 users worldwide managing more than $600 billion of collateral. In addition to FHLBank Atlanta, STOC has recently been implemented at Wachovia, FHLBank Boston, FHLBank New York, and FHLBank Pittsburgh.FHLBank Atlanta’s Executive Vice President and Chief Credit Officer, Kirk Malmberg, announced the decision and explained,
"We selected Rockall Technologies to provide enhanced collateral management software to our bank and it’s members because we found it to be the most robust and yet, flexible and configurable collateral management solution available in today’s market place.” He added that “
The lending market today is very challenging and it is clear that to mitigate risk an organization must have a complete understanding and control over its collateral.The Rockall solution hits the mark in both cases and will actually increase our operating efficiency as well.” Recent challenges in the lending markets have made the implementation of loan collateral management systems more critical than ever for financial institutions worldwide. As Rockall CEO Luke Nestor explains, “Rockall is very proud of the fact that its collateral management solution, called STOC (Systematic Tracking of Collateral) has been chosen by Wachovia and four of the largest Federal Home Loan Banks – Boston, Pittsburgh, New York and now Atlanta. We believe we are the global leader in collateral management and the confidence shown in us by these leading Federal Home Loan Banks underscores that reality.”
