NEW YORK, July 17, 2012 (GLOBE NEWSWIRE) -- Kamakura Corporation reported Tuesday that the Office of the Comptroller of the Currency selected Kamakura to provide the Agency with probabilities of default for U.S. and international public firms and sovereigns through its KRIS subscription service. The RFP solicitation for this data was done in accordance with Federal Contracting procedures. The criteria for selection included the technical approach, past performance and cost of the service. Kamakura has been providing this service to the OCC since 2009.
The OCC was established in 1863 as an independent bureau of the U. S. Department of the Treasury. Its primary mission is to charter, regulate and supervise all national banks and savings associations to ensure that they operate in a safe and sound manner and are in compliance with laws requiring fair treatment and access to credit and financial products.
Martin Zorn, Chief Administrative Officer for Kamakura Corporation, said Thursday, "We are extremely pleased to have earned this contract award. The OCC is a very sophisticated client and is a leader in using advanced risk management techniques in its efforts to ensure a safe financial system. Having been the incumbent provider of default probabilities, we appreciate the confidence that the Agency has in the quality of our data and systems to have awarded us this new contract. We look forward to working with the OCC as we continue to enhance and expand our risk modeling on a global basis."
About Kamakura Corporation
Founded in 1990, Honolulu-based Kamakura Corporation is a leading provider of risk management information, processing and software. Kamakura was named to the World Finance 100 by the Editor and readers of World Finance magazine in 2012. In 2010, Kamakura was the only vendor to win 2 Credit Magazine innovation awards, including one with distribution partner Thomson Reuters. Kamakura Risk Manager, first sold commercially in 1993 and now in version 8.0, is the first enterprise risk management system with users focused on credit risk, asset and liability management, market risk, stress testing, liquidity risk, counterparty credit risk, and capital allocation from a single software solution. The KRIS public firm default service was launched in 2002. The KRIS sovereign default service, the world's first, was launched in 2008, and the KRIS non-public firm default service was offered beginning in 2011. KRIS default probabilities are displayed for 4,000 corporates and sovereigns via the Reuters 3000 Xtra service and the Thomson Reuters Eikon service. Kamakura has served more than 220 clients ranging in size from $1.5 billion in assets to $1.6 trillion in assets. Kamakura's risk management products are currently used in 32 countries, including the United States, Canada, Germany, the Netherlands, France, Austria, Switzerland, the United Kingdom, Russia, the Ukraine, Eastern Europe, the Middle East, Africa, South America, Australia, Japan, China, Korea, India and many other countries in Asia.
Kamakura has world-wide distribution alliances with Fiserv (www.fiserv.com), SCSK Corporation (http://www.scsk.jp/index_en.html), Unisys (www.unisys.com), and Zylog Systems (www.zylog.co.in) making Kamakura products available in almost every major city around the globe.