Resolution Procurement Framework 2023

Description

The Bank of England ('the Bank') conducted an open tender procedure for the re-tender of its Resolution Procurement Framework ("RPF") and has awarded a 4-year framework agreement split across the following 5 lots: - Lot 1 - Financial advice and valuation analysis; - Lot 2 - Restructuring and insolvency; - Lot 3 - Corporate financial advisory; - Lot 4 - Operational review and analysis; and - Lot 5 - Resolution delivery support. The RPF is the Bank's framework to appoint advisors to support work on resolution planning in business as usual and where a regulated entity is under stress. The Bank may seek advisory support for work to ensure that firms have adequate capabilities to deliver a resolution under the Resolvability Assessment Framework (RAF). The Bank may also seek advisory support to deliver a resolution (e.g. resolution valuations or insolvency practitioner support). This framework has been awarded on a non-exclusive and no commitment basis, therefore the Bank is not committed to spending the full framework value and payment is only made as and when requirements arise and are awarded to suppliers. Lot 1: Financial Advice and Valuation Analysis Advice in relation to valuation analysis for banks, CCPs, or insurers for the purpose of resolution contingency planning, including, but not limited to, the ex-ante and ex-post independent valuation work required by the Banking Act 2009. Lot 2: Restructuring and Insolvency Planning and advice in connection with the bank (or building society) insolvency procedure (BIP), bank administration procedure (BAP) and the special administration procedure for investment firms ("SAR"). Lot 3: Corporate finance advisory Corporate finance advice and support to the Bank or a firm under the direction of the Bank in relation to preparing for execution of a sale, restructuring or funding transaction as part of a recovery or resolution plan. Lot 4: Operational review and analysis Advice to support the Bank in assessing the operational feasibility of resolution plans, and preparatory assessment and remediation work for contingency planning. Lot 5: Resolution support services The Bank may require additional support to deliver resolvability or contingency resolution planning. Suppliers would provide support in a range of activities including, but not limited to, project planning, document production and review, or detailed operational planning to ensure that a resolvability assessment or resolution is executed successfully.