The new service displays short- and long-term ratings for counterparties and related entities as well as additional information about the underlying security or index. By combining accounting and analytical information, clients are able to see a consolidated view of their counterparty exposures.
The Workbench enhancement delivers the ratings from all three major agencies, Moody’s, Standard & Poor’s, and Fitch.
A press release said the new reporting functionality further extends the scope of BNY Mellon’s Derivatives360, which supports derivatives throughout their lifecycle.The enhancements were specifically designed to help U.S. Government reporting clients meet the requirements of Governmental Accounting Standards Board (GASB) Statement No. 53, Accounting and Financial Reporting for Derivative Instruments, according to the announcement.