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 LLC (Principia) provides a comprehensive single platform solution for the end-to-end management of structured finance investments. Global financial institutions and independent asset managers have used the award winning Principia Structured Finance Platform since 1995 to unify investment analysis, portfolio management, risk surveillance, accounting and operational control across the breadth of structured credit assets, fixed income investments and complex derivatives.
For over 15 years Principia’s mission has been to help investors independently address the deal specific investment and cashflow analysis, valuation, risk management, reporting and due diligence requirements of structured credit investments and portfolios. Its dedicated support and continued development of functionality for structured finance instruments is accompanied by a proven and fully integrated derivative valuation framework. This overall credit investment and market risk solution delivers the robust backbone necessary for deeper investment analysis, proactive risk surveillance and operational control across the credit investment business.
Principia is based in New York, with an office in London and a technology center in Conshohocken, Pennsylvania. Principia SFP was awarded the Credit Technology Innovation award by Credit magazine in 2008, 2009 and 2010.
For press information contact:
Ben Jarrold
Tel: + 44 (0) 20 7618 1370
Email: Jarrold@ppllc.com