PIRAEUS Bank and SYSTEMIC Risk Management initiated a new cooperation, regarding the supply and full support of a risk management system to cover foreign exchange positions.

The agreement includes the installation and maintenance of the RV Credit© platform, which in its full version covers the entire range of requirements of a modern financial institution related to credit risk, and is fully Basel II compliant.

The foreign exchange business is increasingly attracting the investors' interest, in search of better returns compared to alternative asset classes.

PIRAEUS Bank, with total assets in excess of 16 billion euros and a network of over 300 branches, is particularly active in covering sophisticated investment needs of its clients, which led it to invest in the management of counterparty risk arising from foreign exchange business.

Systemic-RM provides its solutions to major financial institutions such as National Bank of Greece, Marfin Financial Group, HSBC Bank, Societe Generale, the group of the Greek Cooperative Banks and Panellinia Bank, and many major securities and investment firms.