Union Bank of India (UK), the British subsidiary of Union Bank of India, will use AxiomSL’s SBRL solution to submit a wide range of regulatory reports to Financial Conduct Authority (FCA), as part of its compliance with the Capital Requirements Directive IV (CRD IV). The bank will use the solution to convert its regulatory reports from Excel and other formats into the XBRL taxonomies specified by the EBA. The solution will be used for the Liquidity Coverage Ratio (LCR) and ALMM (Additional Liquidity Monitoring Metrics) components of CRD IV. AxiomSL provides the latest iterations of the XBRL taxonomies mandated by the EBA while continuing to give firms access to earlier versions. AxiomSL releases the new taxonomies within a month of their publication by the EBA. This unrivalled delivery time is possible because AxiomSL separates regulatory update releases from software releases.
