Archive for May, 2014

Dynamics Business – Agile and connected – ask Synergy Software Systems, Dubai

May 31st, 2014

Your business is a successful enterprise because it uses business-critical information for informed decision-making.
Microsoft Dynamics AX, is an enterprise wide integrated solution financial, sales and marketing, advanced supply chain: purchase, inventory and automated warehouses, demand forecast and master planning, lean, process or discreet manufacture, QA, human resources, and project management capabilities, AX is applicable for a wide range of industries.

Enterprise Resource Planning (ERP)needs to be flexible, customizable, and designed to work the way your business does.

As a fully integrated system Microsoft Dynamics AX enables diverse multi company, multi geography, multi line of business groups to make informed decisions to:
- grow the business, ( highly scalable, multi company, multi site, multi currency, dual base currency, multi language, in built development platform, portals for trading partners, embody polices and data for next generation of managers)
- to delegate, monitor, approve and control ( with case management, workflows alerts and digital signatures)
– to reduce costs – centralised operations are possible (e.g.: centralised purchasing, centralised cash collection and payments.)
- to automate and to streamline operations ( multi company journals in one screen, reversing journals, Intercompany transactions, bar coded warehouse operations, wizards, templates, and copy features, auto-bank reconciliation, sophisticated master planning, support for backflush, preflush and kitting)
- to produce timely audited results with international compliance (Management Reporter, detailed audit trails, highly flexible COA for dimensional analysis)
- to budget, consolidate plan and forecast as often as needed ( standard features provided in the solution to support these processes)

By centralizing and integrating core business functions, you eliminate disparate processes and multiple disjointed databases. With AX, you can be confident your ERP solution will meet the needs of your employees and the demands of your ever evolving industry and business.

It fits your business processes with rapid user adoption due to a familiar Microsoft user interface which delivers an individualized user role based experience that allows employees to tailor menus and screens and to automate processes based on their own work style.

Implementing a comprehensive solution like Microsoft Dynamics AX requires a world class partner that can help you understand first what you are trying to achieve through technology. Supported by over twenty years of expertise, and the oldest largest and best certified Ax team our highly skilled team of IT Professionals are known globally for their 100% Ax project success, and exceptional support

Contact us to learn more about an enterprise level solutions that bring continuous value to your organization.

Management Reporter 2012 CU9 – Ask Synergy Software Systems

May 31st, 2014

Management Reporter Web Viewer :

- Enhancements for opening and refreshing reports
To get an updated view of the data in a report without having to go back in Report Designer to regenerate the report e.g. when making month end adjustments -with Management Reporter CU9, there added ability to refresh a report in the web viewer, without having to go back into Reporter Designer. Users in the Administrator, Designer or Generator roles can use the refresh option to view an updated, private view of the report.

The output locations and report dates used when the report was originally generated are used when you press the Publish button. Without need to go back into Report Designer, publish out reports to those who need the reports.

see this video: http://www.youtube.com/watch?v=Og7_t5tgHuM
- for SL and GP – additional troubleshooting information in the Configuration Console related to data issues in the underlying ERP system.

Summary of new Management Reporter 2012 CU9 features:
• View a list of previous month’s reports and open those in the web viewer
• Headers and footers are shown by default in the web viewer
• Enhanced data detection in the Configuration Console
• Support for dynamically displaying currency symbol, currency code and currency description
• Support for SQL Server 2014

There are also Management Reporter 2012 CU9 product fixes for new/outstanding known issues from Management Reporter 2012 CU8:

NOTE: Download for Management Reporter CU9 from: https://mbs.microsoft.com/customersource/northamerica/MR/downloads/service-packs/MROverview

Free MS CRM Server for MS Dynamics Ax user but only to end June

May 27th, 2014

If you have a MS Dynamics Ax system and plan to use MS CRM for your field dales then in the current price list the CRM server is free.

From 1 July the price list will change and the CRM server will no longer be provided free to customers with Ax systems.

SQL Server 2012 SP1 CU10

May 26th, 2014

Cumulative Update 10 contains all the SQL Server 2012 SP1 hotfixes which have been available since the initial release of SQL Server 2012 SP1 and is now avaiable for download from Microsoft support.

• CU#10 KB Article: http://support.microsoft.com/kb/2954099
• Understanding IncrementalServicingModel for SQL Server

Isra Wal Meraj Holiday 2014, Dubai- Synergy Software Systems office closed

May 22nd, 2014

As announced by the government Sunday 25th May will be a holiday (instead of the official date of Monday).

Synergy offices closed on Sunday

Our offices will be open skeleton support on Saturday.

Remember this is an occasion of special religious significance for all muslims, who will gather in prayer, so please bear this in mind on Monday,

al-’Isrā’ wal-Mi‘rāj are the two parts of both a physical journey (isra- from Kabah in Makkah to Masjid al-Aqsa In Jerusalem ) and a spiritual Night Journey (Shob-e-Miraz or Ascension) that the prophet of Islam, Muhammad took during a single night around the year 621 at one of the darkest and most dismal time of his life following the death of his wife .

He travelled on the steed Buraq to “the farthest mosque” to lead other prophets in prayer. He then ascended to heaven where he spoke to God, who gave him instructions to take back to the faithful regarding the details of prayer. His heart was purified by an archangel (Gabriel , “Ibreel”) who filled him with knowledge and faith in preparation to enter the seven levels of heaven

According to traditions, the journey is associated with the Lailat al Mi’raj, as one of the most significant events in the Islamic calendar.

Central Bank 3rd meeting 2014

May 21st, 2014

The Board of Directors of the U.A.E.’s Central Bank has held its 3rd meeting for 2014, under the chairmanship of Khalifa Mohammed Al Kindi, Chairman of the Board.

The Board discussed major subjects proposed to be included in the new banking law currently being developed by the Central Bank. The meeting was attended by Khalid Juma Al Majid, Deputy Chairman, Sultan bin Nasser Al Suwaidi, the Governor, and Board Members, Younis Haji Al Khoori, Khalid Mohammed Salem Balama, Khalid Ahmed Altayer, Hamad Mubarak Bu Amim, and by Mohamed Ali Bin Zayed Al Falasi, Deputy Governor, Saeed Abdullah Al Hamiz, Assistant Governor for Banking Supervision, Saif Hadef Al Shamsi, Assistant Governor for Monetary Policy and Financial Stability and a group of senior Central Bank staff.

The Board reviewed a report on the latest developments concerning the Central Bank Information Technology strategy, which is being carried out by the Boston Consulting Group.

It also discussed a Monetary Policy and Financial Stability Department report on macro-prudential ratios for the banking system/ banking stability and liquidity indicators of the banking sector.

Also touched on was the Banking Supervision Department report on the financial and administrative status of banks and other financial institutions operating in the U.A.E. and instructions were given to take necessary action in this regard.

Earlier in the month The United Arab Emirates (UAE) was the latest country to tighten its anti-money laundering (AML) protections, when the nation’s Federal National Council passed new legislation to punish individuals and companies that conduct illicit transactions and finance terrorism. It will authorise financial penalties of up to Dhs500,000 (£86,000) for institutions found guilty of breaching the law, while individuals could face a similar fine, as well as prison terms of up to ten years,

“significant challenges [remain] around compliance, especially with regard to customer due diligence, transaction monitoring, and politically exposed persons identification”.

The UAE’s new law seeks to clarify money laundering, defining it as “when a person converts, transfers or deposits money with an intent to conceal its illicit origin and when they disguise the source of funds being transferred or deposited.” The legislation also details the duties of the bank’s Anti-Money Laundering and Suspicious Cases Unit and Financial Information Unit. All banks, money changers and other financial institutions operating in the UAE will now have an obligation to report any unusual transactions to the unit. -

In the United Kingdom Bank of England governor Mark Carney backed a plan by Britain’s biggest banks to set up a new body to improve standards in an industry rocked by a string of scandals.
The Banking Standards Review Council (BSRC), funded by, but independent from, the banks, is to be set up this year after banks accepted recommendations from Richard Lambert, a former director general of the Confederation of British Industry

TCPOS in Dubai Multi-functional POS

May 21st, 2014

Are you fed up with restrictive legacy POS systems?

Are you faced with increasing demands for profitability and customer service?

Do you need to need to meet new legislative requirements, for bill printing, or for supporting chip and pin credit card payments or….?

Do you need one system to cater for multi requirements – retail outlets, fast food, fine dining, events…more?

At a retail seminar arranged by HP at Emirates Towers Synergy Software Systems and their partner software vendor;s International Manager Pamela Niggli from TCPOS presented the features of a modern multi function POS system and its many successes globally in addressing specific complex customer needs to deliver a front lien competitive edge.

The opening address from HP emphasized the rapid changes in hospitality and retail that are supported by mobile POS systems. TCPOS is a dotnet platform that is rapidly expanding globally because of its multi functional features coupled with ease of use, and ease of customization. The last impression counts: That is why the acceleration of checkout procedures is a crucial element in terms of customer relations and success in retail. Moreover, checkouts have to provide several additional functionality today, e.g. couponing, e-loading and contactless payments. Beyond that digital technologies in smartphones and touchscreens or in infrastructures will revolutionize the retail trade in future.

For us, each and every customer is unique. Whether restaurant, fast food, catering, international franchising company or retail – supermarket, fashion, jewellery, DIY.. whatever your retail business we can adapt TCPOS to meet its specific requirements. It doesn’t stop there, railways, theme parks, museums, customs even prisons are all using TCPOS

Hospitality and retail markets are rapidly changing every day. That is why we look beyond the present and anticipate future trends and challenges in order to support your growth with best solutions. With our tailor-made solutions you are well prepared to master the challenges of the future in the best and positive way.

We want to facilitate operation for you and your staff. That is why
our software solution TCPOS.net is intuitively operable and quick to learn with the minimum training effort. Installation and configuration of the software are as easy as its operation. Thanks to its rich scope of functionalities the system can be easily adjusted to your specific needs.

The great performance of the software leads to fast processing even when many applications are being used. Special techniques such as resource pooling, data compression and Peer to Peer communication between checkouts ensure this maximum performance. An offine mode ensures no loss of business.

A la carte system administration – either local or remote central administration and control of all workstations


TCPOS.net is the versatile solution in international environments:
– Multisite
– Multilingual
– Multifunctional
– Multicurrency

(for example: dual language and dual currency receipts )
With TCPOS-Stock control your head-office and your stores can count on a system with strong performance for your store management. Besides functionality for monitoring and administration, TCPOS-Stock control provides an integrated module for inventory management.

The table service module has the functionality needed to manage table service and production centers, where products are prepared. It displays the halls and a table with a map of the restaurant.

TCPOS manages different promotions that can be automatically processed at the checkout. Discounts and deductions may be applied automatically on the articles sold in the transaction. A subsidy – Plus factor at the till provides the facility to grant to recognised customers, discounts or payment exemptions on specific articles.

Boost your customer loyalty with the finest solution for customer card management, both in the hospitality and retail market

All functionalities of TCPOS-FrontEnd are available on hand-helds with both standard Windows and Android mobile technologies, providing maximum flexibility to your business. By using a simple browser and intuitive interfaces,

-TCPOSWeb applications manages bookings and purchases, personal accounts linked to prepaid and personal cards, granting high-standards of security and precision.
Web Meal Reservation – Check on-line available menus and reserve your preferences in advance with one click.
Customer Account Manager – Customer cards supervision and balance management, wherever you are, anytime Avoid queues at the till or at automatic distributors.
Web Reporting – Display statistics and export these as PDF files, anywhere, from your PC even while on the move.

TCPOS enables the management of several brands of vending machines, operating either in off-line mode, or in on-line mode, via direct connection to a network.

Fast service in short time and high customer frequency – the time pressure in canteens and catering is enormous. Innovative technologies such as connection to modern methods of payment with loyalty cards and touchless payment are appropriate ways to assure smooth payments and accelerating the speed of guest flow. Manage small organizations up to corporate canteens or catering in the public sector as well as canteens directly or through catering organizations. Administer the system through a completely centralized management.

Hotels and restaurants Invites to the table The precise coordination of services, kitchens and bars is vital when time is scarce and many guests have to be served at the same time. With TCPOS you can always stick to your plan. By submission of orders via network TCPOS provides fast and smooth communication. Management of tables means no misunderstandings or waste of time, Just a few of the features:
Menu management – seasonal and à la carte
Orders – variable optional via handheld
Splitting of orders
Order transmission to kitchen, grill and bar
Individual customer orders
Table management and order status
Customer profiles and receipts
Variable price management
Automatic price updates
Discounts and promotions
Security due to allocation of rights
Graphical monitoring.

Experience attractions: Theme parks, trade shows, cruise lines, ski resorts, stadiums, golf clubs, multiplex cinemas and museums all
entertain visitors with a huge variety of attractions, facilities and gastronomical specialties. Visitors should enjoy their visit and have easy and comfortable access
to facilities.

Visitors to leisure areas use multiple checkout scenarios with bars, kiosks, restaurants, discos, self-service shops, outlets etc. as well as many payment locations in a network often with several hundred checkouts and a massive amount of daily transactions. Additionally, there are many ways for visitors to enter and to use the facilities such as admission tickets, credit wristbands,
rechargeable points, automatic lockers, integration to barriers and gates

TCPOS-Business Intelligence helps you to steer your Key Performance Indicators (KPIs) and to monitor your results.

– You no longer need a Point of Sale- today customers expect a POINT OF SERVICE

SEEING IS BELIEVING: Call 0097143365589 and ask for Madhav or Ramesh to try TCPOS for yourself.

Accenture report – Banking in the Gulf Cooperation

May 19th, 2014

This recently published survey will be of interest to Middle East banks for both the survey results and the analysis and commentary. To gain deeper insights into how banks are preparing to address the demands of a transforming and fast growing market, Accenture conducted a survey of 47 banks across six GCC countries. The report reveals a number of important findings regarding regulatory compliance and business systems as indicated by these extracts:

“Customer analytics with predictive analytics will be the major technology enabler for growth.

Business intelligence (BI) tops the list as the most critical and important technology with banks looking to leverage BI capabilities for customer analytics, risk analytics and marketing effectiveness. The survey shows that 61 percent of the respondents are either planning or are already investing in customer analytics with predictive analytics”

“Banks in the GCC fared better than their counterparts in the West during the recent global financial crisis. However, the consequent tightening of the global regulatory environment is likely to influence their business considerably. Nearly 80 percent of
the banks in the region perceive the evolving regulatory framework to become a major external challenge by 2015. Central banks are expected to place greater emphasis on corporate governance and transparency to protect the banking industry and its clients”.

The Saudi Arabian Monetary Authority (SAMA), for example, has played a particularly proactive role in regulating and protecting the Saudi market from the current global economic turmoil and is expected to take the lead in regulatory reform across the GCC. By fostering a close working relationship with the local banking industry, SAMA has been able to create an open dialog within the industry.”

“The survey reveals that banks plan to align the risk strategy with their overall business strategy as they expect an increased focus on liquidity risk management on account of the Basel Capital Accord requirements. “

“With heightening competition and demanding customers, banks need the right skills to innovate and design”

“To make the most of analytics, at the primary level, banks in the GCC will have to establish a strong information management foundation by improving business processes and insights to achieve a “single source of truth” for all their information. And, as
a first step in this direction, banks will need to consider improving the quality of their databases.”

“Moving forward, banks should improve business intelligence capabilities that translate into improving business performance with appropriate, actionable and timely data and information. ”

“However, as IT departments of banks
in GCC countries tend to be small
and characterized by heterogeneous
architectures, they may well need to
integrate the architectures and silos
for greater business efficiency. More
importantly, as our experience with
clients has shown, business outcomes
can be achieved better in organizations
where the IT department’s role is
that of a strategic business partner. ”

“….the impact of Basel Capital Accord will be felt more in terms of liquidity risk management than on capital requirements. Banks will need to take a proactive stance in understanding these new requirements and their implications for their current product and service offerings and management of liquidity. …..To position themselves to prepare for regulatory changes, banks should focus on allowing space for the finance and risk department at the strategy table. The risk department will need to move away from its traditional support/service provider role toward being a true business partner. In this capacity, they can drive real value and support in taking advantage of regulatory change.

To access the full content of the report : http://www.accenture.com/gccbanking

Investment & long-term debt planning-with Prophix Detailed Planning

May 15th, 2014

A one hour session – we suggest\ start at the 5 minute point

See how Prophix Detailed Planning Module can be used to model investments an loans, and asset acquisitions, retrnrs, depreciations,and disposals.

Dynamics CRM 2011 RU17

May 14th, 2014

A new rollup for CRM 2011 is out. Download link

http://www.microsoft.com/en-us/download/details.aspx?id=42672

Microsoft add an Important Note which you can see on the kb article – http://support.microsoft.com/kb/2915687

Important Note: Microsoft Dynamics CRM 2011 Update Rollup 17 is compatible with Windows 8.1 or Windows 7 and Internet Explorer 11. This includes the following supported configurations.
•The web application running in Internet Explorer 11 on Windows 8.1 or Windows 7.
•CRM for Outlook when you run Office 2013 on Windows 8.1.

Hotfixes and updates that you must enable or configure manually

Update Rollup 17 for Microsoft Dynamics CRM contains one fix that must be enabled manually.

When you attempt to deploy a mailbox rule using the forward mailbox rule deployment wizard, with a split deployment for Exchange 2010 where your mailbox servers are not client access servers, you receive an error: Failed to access the default store for the user.

1.On the Email Router machine, you must create a new String value Key named “CASServerName” in the path
:HKEY_Local_Machine\Software\Microsoft\MSCRMEmail.

2.Enter the NetBIOS name of one of the Exchange CAS servers.

There are many fixes in this rollup, see the KB article but, apart from IE 11 support none seem compelling reasons to upgrade.

One random issue we are pleased to see resolved: When a form is opened, and a user clicks “Insert Template” before the rest of the form finishes loading, one of the following script errors might occur:

‘Mscrm.FormControlInputBehavior.GetBehavior(…)’ is null or not an object
Unable to get property ‘Items’ of undefined or null reference
Object expected

Microsoft Dynamics CRM 2013 Update Rollup 2 is released

May 14th, 2014

Microsoft has released Update Rollup 2.
This is a tested, cumulative set of updates for Microsoft Dynamics CRM 2013. It includes performance enhancements that are packaged together for easy deployment.

New Release – BI4Dynamics NAV 4.0.9. Ask Synergy Software Systems

May 14th, 2014

This widely adopted BI solution is now even better!

New features
• Warehouse module integrated
• Bank Account module integrated
• Inventory aging -fully functional
• Simplified translations

A pre- built data warehouse without of the box reports, and dashboard and data and measures, dimensions and calculated fields are all exposed in a familiar Excel flayer or further drag and drop analysis.

Because the data is already extracted from the erp system and the calculations are pre-processed there is rapid response time for inquiry and reporting.

With no data warehouse to build, and out of the box report packs, and Excel based reporting you are up and running quickly with a fast implementation (as low as 2 weeks for many sites), fast ROI.

Don’t forget there is also a BI4Dynamics option for Dynamics Ax

For more information contact: Arindam 009714 3365589

CRD, CRR, COREP, FINREP, BASEL lll , and much more – recent updates

May 13th, 2014

European and International Developments

Final draft regulatory technical standards on prudent valuation
The European Banking Authority (EBA) final draft regulatory technical standards on prudent valuation under Article 105(14) of Regulation (EU) No. 575/2013 (Capital Requirements Regulation).

European Parliament issues Guide to New Rules on Banking Union
A guide to the EU’s new Rules on Banking Union.

Final Standard for Measuring and Controlling Large Exposures published by the Basel Committee
On the 15 April, the Basel Committee on Banking Supervision, published a final standard. This sets out the supervisory framework for measuring and controlling large exposures, that will take effect from 1st January 2019.

A large exposure framework is meant to protect banks from significant losses caused by the sudden default of an individual counterparty or a group of connected counterparties. The framework is designed so that, the maximum possible loss a bank could incur if such a default were to occur would not endanger the bank’s survival as a growing concern.

In cases where the bank’s counterparty is another bank, large exposure limits will directly reduce of system-wide risk. The wider scope of coverage includes exposure: to funds, securitisation structures and collective investment undertakings,

The framework strengthens the oversight and regulation of the shadow banking system. The large exposure published by the Basel Committee includes a general limit set at 25% of a bank’s Tier 1 capitalised to all of a bank’s exposure to a single counterparty. This limit also applies to a bank’s exposure to identified groups of connected counterparties. A tighter limit will apply to exposures between banks designated as global systemically important banks. This limit is set at 15% of Tier 1 capital.

Conglomerate capital rules
Following on from an earlier post on conglomerate capital rules, the EU now made the conglomerate rules official. This is EU’s answer to criticism on its watered down implementation of Basel III. But it may never become clear why the EU uses conglomerate rules to compensate for weaknesses in bank rules.

CRR and CRD
Over a hundred mandates for regulatory and implementing technical standards are provided for in CRR and CRD. To (March 2014), of the hundred mandates for regulatory and implementing technical standards provided for in the CRDIV legislation, the European Commission has adopted thirteen Regulatory Technical Standards (RTS) and one Implementing Technical Standard (ITS), some of which cover several mandates.

The Joint Committee of the European Supervisory Authorities (EBA, ESMA and EIOPA) published a consultation in February 2014 (see below) on draft Implementing Technical Standards (ITS) on the mapping of credit assessments to the risk weights of External Credit Assessment Institutions (ECAIs) under Article 136(1) and (3) of the Capital Requirements Regulation. The deadline for responses to this consultation has now been extended from 5 May 2014 to 20 June 2014.

Supervisory reporting in Europe’s financial sector has been far from harmonised. Regulated firmsreport similar information to their respective national regulators but in slightly varying ways, which makes comparisons difficult. Since the publication of the CRD IV last year, the European Banking Authority (EBA) has a clear timeline for managing the unenviable task of getting Europe’s 8.300 credit institutions and 32 National Competent Authorities NCAs) to all ‘speak the same language’. The first step in reaching that ambitious objective requires translating the contents of the CRD IV Package into what is known as Implementing Technical Standards (ITS).
For a uniform implementation across Europe of the ITS on supervisory reporting requirements for regulated entities, the data items included in the consultation EBA/CP/2012/05 are translated into a Data Point-Model (DPM). The DPM is a structured representation of the data, identifying all the business concepts and their relations (including validation rules), and it contains all the relevant technical specifications necessary for developing a reporting solution. The process involves adapting the DPM and associated XBRL (eXtensible Business Reporting Language) taxonomies to reflect the final CRR/CRD IV text, as well as the feedback received from stakeholders.
For the objectives of the CRD IV Package to be achieved, there must be convergence between the structural and technical choices made by the EBA in the taxonomy translation of the CRR/CRD IV text, and the technology choices made by regulated firms and National Competent Authorities with regard to production, validation and collection of the regulatory data required .

The CRD IV disclosure regime imposes extensive reporting demands on regulated firms, both in the speed and frequency with which they are required to generate reports and the amount of information they must provide. Regulated firms face immediate and difficult choices both about how far to automate the reporting process, and with the challenges of how to collate the data required for reporting, and how to staff and organize for the new regime. Firms have gaps both in their data and expertise relating to reporting under CRD IV, because they are required to report using a harmonized format – XBRL – a standard ( but less familiar) reporting language.

The transition to CRD IV is an excellent opportunity for firms to re-examine their data and reporting systems and to consider how those might be improved. Technology sits right at the heart of CRD IV, COREP and FINREP projects. Choices made about the technology deployed in the coming months could make the difference between projects that run to budget and on time, and those that fall short. Failure will leave firms unable to report to regulators on time and in the required format.

Timelines are tight so, firms must consider how to deploy proven framework systems now that they can build on in the future as their internal needs and regulatory demands evolve. If not, they risk shutting the door to benefits they can unlock at a later stage as the industry continues down the path towards improved data quality, governance and reporting.


CRR EBA published consultation on draft RTS on the treatment of equity exposures under the IRB approach

CRD IV EBA updated Single Rulebook Q&As 30 April 2014 concerning CRD IV and related technical standards

The European Systematic Risk Board (ESRB)
Published its response to a call for evidence from the European Commission on the sufficiency of the macro-prudential rules in CRD IV to mitigate systemic risks in the EU. According to Article 513 of the CRR the Commission must report to the European Parliament and the Council on the review of macro-prudential provisions in the EU capital requirements framework by 31 December 2014.
The ESRB notes that the macro-prudential review takes place only a few months after CRD IVs implementation. Nevertheless it recommends that the range of tools provided in CRD IV be maintained, with a number of considerations to improve effectiveness and coverage, and advises the introduction of a review of the macro-prudential provisions in the EU capital requirements framework once experience has been gained with the current toolkit. Annex 1 sets out a number of technical issues regarding the clarity and consistency of the macro-prudential framework
EBA publishes risk dashboard for EU banking sector

The European Banking Authority (EBA) published on 6 May the first risk dashboard for 2014 and it summarises the main risks and vulnerabilities in the banking sector in the European Union (EU), based on the evolution of Key Risk Indicators (KRI) from 55 banks across the EU in the fourth quarter of 2013.

European Banking Federation – Statement about the approval of the new Single Resolution Mechanism
The European Banking Federation endorsed the European Parliament’s approval of the new Single Resolution Mechanism (SRM) to determine how failing Eurozone banks can be resolved without relying on taxpayer support. This includes new rules for bank recovery and resolution in the EU. This vote paves the way for a European wide banking system. The Bank Recovery and Resolution Directive (BRRD) establishes a clear bail-in mechanism and common tool kit for all EU credit institutions with emphasis on early intervention and recovery. With BRRD as a foundation, the SRM for Eurozone banks is a second pillar of banking union and will be the counterpart of the Single Supervisory Mechanism that is already being put into place.

Basel Committee Progress Report on Implementation of the Regulatory Framework
The Basel Committee on Banking Supervision updated progress report on implementation of the Basel Regulatory Framework and Progress in adapting Basel II, Basel 11.1 and Basel 11.5.

Bank for International Settlements – FAQ
The Bank for International Settlements (BIS) released an updated Frequently Asked Questions on Basel III monitoring. These questions cover: definition of capital; leverage ratios; liquidity; trading book; hypothetical test portfolio exercise; and interest rate risk and credit spread risk in the banking book.

European Central Bank – Rules of Procedure
On 2 April 2014 the European Central Bank (ECB) issued rules of procedure of the Supervisory Board. The rules deal with a attendance at supervisory board meetings; voting; delegation of powers; mandate; composition and appointment of members.

External Audit of Banks
The Basel Committee on Banking Supervision published supervisory guidance on external audits of banks. The document supersedes previous committee guidance on the relationship between banking supervisors and bank’s external auditors. The Committee’s guidelines cover both an audit committee’s responsibilities in overseeing the external audit function and the prudential supervisors engagement with the external auditor of banks. It also sets out the Committee’s expectations and recommendations relevant to external audits of bank. The new guidance focuses on factors that contribute to enhancing audit quality at banks.

EU-wide stress test: methodology and scenario
The European Banking Authority (EBA) announced the key components of the forthcoming 2014 EU-wide stress test that will be conducted on a wide sample of EU banks. The objective of the EU-wide stress tests is to help supervisors assess the resilience of financial institutions in the European Union to adverse market developments. This exercise aims at ensuring consistency and comparability of the outcomes across all banks based on a common methodology, scenarios and accompanied by a consistent disclosure exercise.

EBA consults on draft technical standards on the treatment of equity exposures under the IRB approach
The European Banking Authority (EBA) launched a consultation on draft Regulatory Technical Standards (RTS) on 7th May to specify the treatment of equity exposures under the internal ratings-based (IRB) approach. These RTS will be part of the Single Rulebook aimed at enhancing regulatory harmonisation in the banking sector in the European Union. The consultation runs until 7 July 2014.

EBA launches data collection exercise on CVA
The European Banking Authority (EBA) at the end of April launched a data collection exercise to advise the European Commission on appropriate amendments to the European Credit Valuation Adjustment (CVA) framework . Banks with substantial portfolios of OTC derivatives are encouraged to participate in this data collection exercise on a voluntary basis.
Although the data collection exercise is to be carried out on a voluntary basis, the EBA expects banks with relatively substantial portfolios of OTC derivatives to participate in the exercise, regardless of whether they use the advanced or the standardised method for CVA risk. Accordingly, the EBA has prepared a standardised template that participating banks will be requested to fill in, with instructions due to be published on the EBA website early May.

ECB – Comprehensive Assessment
Capital shortfalls will be expected to be covered within six months for those identified in the AQR or the baseline stress test scenario and within nine months for those identified in the adverse stress test scenario. Recapitalisation measures to cover any shortfalls detected should rely on capital instruments of the highest quality. Shortfalls revealed by the AQR or the baseline stress test scenario may only be covered by Common Equity Tier 1 (CET1) capital instruments – unless the shortfalls are reduced through other means.

The ECB will publish the results of the comprehensive assessment in October 2014, before it takes over its supervisory tasks within the Single Supervisory Mechanism (SSM).

MiFID II
MiFID II – Council of the EU invites COREPER to approve MiFID II
FCA publishes new webpages

FCA Guidance Consultation GC14/2:
Revision of Transaction Reporting User Pack Version 3 (TRUP V3)

In March with the new EU banks rules stacking up , the demand for road-maps the EU provided an overview and state of play relating to CRR / CRD IV. It shows that progress has been made. However, still Europe has plans for many new standards. Gleaning from the chart, the EC and EBA are not even halfway through see: the table here: http://ec.europa.eu/internal_market/bank/docs/regcapital/acts/overview-crr-crdiv-rts_en.pdf

Ask us about BRS Analytics a pre-built data warehouse to take data from your banking systems and to auto generate reports in your CB formats – and lot more!

Useful tool

http://www.pwc.com/gx/en/financial-services/issues/regulation/basel-iii-crdiv-navigator.jhtml

AX 2012 and AX 2012 R2 on Windows 8.1/IE11.

May 11th, 2014

We are pleased to announce the support of AX 2012 and AX 2012 R2 on Windows 8.1/IE11.

To use Internet Explorer 11.0, install the hotfixes listed in Knowledge Base article 2958723 (http://support.microsoft.com/kb/2958723

Dynamics Ax support for .Net 4.5.2

May 10th, 2014

Dynamics AX 2012 CU5+, AX 2012 R2, and AX 2012 R3 all now support .NET 4.5.2.

http://blogs.msdn.com/b/dotnet/archive/2014/05/05/announcing-the-net-framework-4-5-2-release.aspx