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New product to solve IAS 39 problems Back  
A web-based secure portal providing best practice IAS 39 and risk management solutions for international corporates and financial institutions has been launched by AIB International Financial Services (AIBIFS).
Financial Instrument Management Services (FIMS), as the product is known, is already being used by DZ-Bank Ireland plc and Sachsen Landesbank Europe.

According to Neil Fleming, finance director of AIBIFS, the product was developed to meet recent accounting and regulatory requirements and provides a flexible solution for companies to calculate the numbers required for IAS 39 compliance. FIMS also allows users to access current and historical market data, mark-to-market derivatives, track hedges and test hedge effectiveness, both historically and on an on-going basis. Additionally, companies can load their securities positions/portfolios and schedule their valuation and reporting requirements.

AIB Global Treasury Services will also market the FIMS service to AIB Groups Corporate & Institutional client base.

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