Press Release
Federal Home Loan Bank of Boston Renews with Principia
Bank attributes vendor’s business knowledge, product depth and responsiveness as key to sustaining a relationship for more than a decade
Jersey City, NJ—August 30, 2005 -- Principia Partners LLC, a leading solutions provider to the structured finance industry and capital markets/treasury markets, announced today that the Federal Home Loan Bank of Boston (FHLB-Boston) has extended its commitment to the Principia System to handle its investment, debt and derivatives management program. The renewal of the relationship, now in its eleventh year, marks FHLB-Boston as one of Principia’s longest standing clients.
“Principia has consistently demonstrated their commitment to our business,” states Frank Nitkiewicz, Senior Vice President, Chief Financial Officer & Treasurer. “Most recently, the bank encountered an unanticipated analytical issue for which customized reporting was required in a very short period of time. Principia’s extensive knowledge of our business and their robust analytical valuation models were quite evident, as they provided the dedicated support and solution that enabled us to meet a very pressing and short deadline."
“The enduring relationship that we have with the Federal Home Loan Bank of Boston is one that Principia truly values,” states Theresa Adams, President and CEO of Principia Partners. “Their commitment and input have been instrumental to our product’s evolution and ability to deliver a solution that meets the unique needs of the FHLBanks and other government-sponsored entities (GSEs) and agencies.”
The Principia System is used by four other FHLBanks, the FHLB Office of Finance, and several domestic and international GSEs, for a broad spectrum of investment management (assets, liabilities and derivatives), valuation, risk management, operations and accounting activities.
About Principia Partners
Principia Partners is the leading software provider for the management and administration of structured finance and credit investment operations. Some of the largest investors in structured credit ABS, MBS and CDOs use Principia SFP as the operational backbone for their portfolios. It enables them to consistently manage, analyze and report on these investments and their associated liabilities and hedges. On a single platform, clients can perform the full range of portfolio management, cashflow and exposure analysis, compliance, risk reporting and accounting activities demanded by their business. Operational inefficiencies associated with using multiple spreadsheets and undedicated systems are reduced by integrating and streamlining these activities on a unified platform that addresses challenges unique to the management of structured finance operations.
Principia SFP’s powerful analytics and ability to interface with, combine and consistently apply deal, cashflow and performance data from the leading industry providers empowers managers to know and understand their investments. On an ongoing basis, users have the control to track, analyze and evaluate risk exposures at the deal, tranche or collateral level and gain a consolidated view of risk across any number of portfolios. The fully auditable operational environment provides the flexibility needed to adapt to changing management, regulatory and accounting mandates and ensure transparency is consistently delivered to investors at every stage of the portfolio lifecycle.
For 15 years, the platform has been used by global commercial banks, insurance companies and investment managers, as well as supporting off-balance sheet operations such as ABCP conduits.
Principia Partners is headquartered in New York, with a European office in the City of London and a technology center in Conshohocken, Pennsylvania.
For press information contact:
Ben Jarrold
Tel: + 44 (0) 20 7618 1370
Email: Jarrold@ppllc.com