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 is a leading provider of advanced end-to-end
processing solutions for the structured finance and capital markets/treasury
markets. The Principia System is a unified portfolio management,
risk management and operational platform that manages a wide range
of vanilla and structured fixed income (including ABS/MBS and GICs),
interest rate, foreign exchange, credit and equity indexed products.
The system is used by a broad range of financial institutions, insurance
firms and capital market groups.
Principia Partners is headquartered at the Harborside Financial Center, Jersey City, New Jersey, USA with an office at 1 Cornhill in London, UK.
For press information contact:
Shamira Alidina
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London W1B 2BP
shamira@write-image.co.uk
Tel: + 44 (0) 20 7959 5450
Fax: + 44 (0) 20 7493 5499
Email: shamira@write-image.co.uk