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Luxembourg-Luxembourg: Provision of external expertise in the field of banking resolution
Section I: Contracting authority
Section II: Object
Provision of external expertise in the field of banking resolution.
The purpose of this call for tenders is to conclude a competitive multiple framework contract (hereinafter referred to as ‘the FWC’) with 5 contractors for the following services:
I. to assist and provide expert advice to the Court in the context of its mandate to conduct an annual performance audit of bank resolutions managed by the Single Resolution Board (‘the Board’) within the regulatory framework of the Banking Union, including assistance with the Court's examination whether the European Commission's assessment of aid from the Single Resolution Fund (‘the Fund’) was efficient and rigorous;
II. to assist the Court in a special performance audit of the single resolution mechanism (‘the SRM’).
I. to assist and provide expert advice to the Court in the context of its mandate to conduct an annual performance audit of bank resolutions managed by the Single Resolution Board (‘the Board’) within the regulatory framework of the Banking Union, including assistance with the Court's examination whether the European Commission's assessment of aid from the Single Resolution Fund (‘the Fund’) was efficient and rigorous. In this context, the contractor may be asked to provide the following advisory services in connection with bank resolutions managed by the Board in participating Member States:
— assessment of compliance with the conditions and objectives of resolution,
— assessment whether a bank can be wound up under normal insolvency proceedings,
— assessment of banks' legal and operational structure, critical functions and core business lines and how they could be separated,
— assessment of banks' short- and long-term viability, performance and sustainability,
— assessment of economic and financial valuations of bank assets and liabilities and off-balance sheet positions,
— assessment of banks' capital and funding structures,
— evaluation of the risks to which banks are exposed,
— examination of the Board's assessment of resolvability, including impediments to resolvability,
— assessment of the minimum requirement for own funds and eligible liabilities,
— assessment of resolution plans, resolution schemes, tools and measures,
— assessment of the choice of resolution tools in the context of minimising the use of the Fund,
— assessment of terms for converting or transferring capital instruments in a resolution situation (e.g. debt/equity swap, write-down of liabilities, bail-in of creditors),
— examination of the compatibility, rigour and efficiency of the European Commission's Fund aid assessments,
— assessment of the ‘no creditor worse off’ principle (no creditor should be worse off in resolution than under normal insolvency proceedings),
— assessment of compliance of the Board's resolution actions with the Single Rulebook;
II. to assist the Court with specific issues arising in connection with a special performance audit of the single resolution mechanism.
The above list of tasks is not exhaustive. It may be necessary to address other issues, either at the expert advisors' initiative (with Court approval) or at the Court's request. Similarly, depending on the circumstances, some tasks may not be necessary.
As the contract terms, quantities and delivery times cannot be indicated precisely in advance, the Court intends to conclude a competitive multiple FWC which will establish the basic terms for a series of specific contracts (in the form of purchase orders also called ‘specific contracts’) to be issued over its duration. The FWC will not give rise to any direct obligation on the part of the Court; it is only its implementation through specific contracts that will be binding on the Court.
The FWC will be concluded in the form of separate but identical contracts with 5 economic operators, insofar as a sufficient number of economic operators can satisfy the exclusion and selection criteria and submit admissible tenders which meet the award criteria.
The purpose of the FWC is to establish the terms governing the specific contracts which may be awarded during the period of its validity. The specific contracts may further specify the terms of the FWC or modify them insubstantially.
Section III: Legal, economic, financial and technical information
Tenderers must be legally capable of performing all contracts they apply for. Tenderers' legal capacity will be evaluated on the basis of the documents as below:
— formal declaration on honour on the exclusion and selection criteria (with the tender),
— proof of entry in the professional or trade register under the conditions laid down by legislation in the country in which the tenderer is established (to be provided only by tenderers to whom the award of the contract will be proposed),
— a legible copy of the notice of appointment of the person(s) authorised to represent the tenderer in dealings with third parties and in legal proceedings, if not shown in the above document (to be provided only by tenderers to whom the award of the contract will be proposed).
Tenderers must have sufficient economic and financial capacity to perform the FWC in compliance with the terms of the contract, taking into account its value and scale.
The following documents shall be provided:
— a statement of annual turnover for each of the past 2 financial years for which accounts have been closed; copies of the profit and loss accounts and balance sheets for the last 2 years for which accounts have been closed (to be provided only by tenderers to whom the award of the contract will be proposed),
— proof of professional risk indemnity insurance (to be provided only by tenderers to whom the award of the contract will be proposed).
Tenderers must also have professional risk indemnity insurance of at least 1 000 000 EUR.
As proof of their capacity, tenderers' average annual turnover for each of the past 2 financial years for which accounts have been closed must be at least 500 000 EUR.
Tenderers must have sufficient technical and professional capacity to perform the FWC in compliance with the contract terms, taking into account its value and scale.
Technical and professional capacity shall be assessed on the basis of the tenderers' relevant experience with the required services, including their expertise as a practitioner in banking crisis management, bank restructuring and recapitalisation, valuation of bank assets and liabilities, and banking resolution (including resolution tools and insolvency procedures). This experience may have been obtained in particular by providing relevant services to the banking sector, resolution authorities and/or banking supervisors.
The following document shall be provided with the tender:
— description of tenderer's relevant experience of providing the required services (maximum of 5 A4 pages, minimum font size 11, min. line spacing 1). This must include details of the services provided by the tenderer, with the names of the credit institutions concerned and start and end dates. Relevant professional accreditation or other documentation may be annexed.
With regard to the FWC which is the subject of this invitation to tender, the Court requires tenderers to have extensive cross-border experience in the following areas:
— restructuring of a bank registered in 2 EU Member States, including monitoring of the implementation of the restructuring plan,
— insolvency procedures for a bank registered in 2 EU Member States,
— financial and economic valuations of bank assets and liabilities,
— credit institutions risk assessment.
Tenderers must demonstrate experience, during the past 8 years, of successfully delivering the services listed above. The experience must be relevant to the subject matter of the contract and must have been gained by providing relevant cross-border services (in at least 2 EU Member States).
Section IV: Procedure
12, rue Alcide de Gasperi, Kirchberg, L-1615 Luxembourg, LUXEMBOURG.
Tenderers or their representative who wish to be present at the opening of the bids must inform the European Court of Auditors in writing (fax (+352) 4398-46667, e-mail: ECAemail@example.com), the day before the opening of the bids at the latest, and must produce their authorisation from the tendering company. Only 1 representative per tenderer will be admitted.
Section VI: Complementary information
The act of tendering does not give tenderers the right either to be awarded the contract or to receive any compensation for costs incurred.
Any additional information including that referred to above will be available only on e-tendering, so the tenderers are strongly advised to consult it at regular intervals as additional information may be added at any time up to the closing date for submission of tenders.
Within 2 months of the plaintiff being notified or, failing this, of the day on which it became known to them. A complaint made to the European Ombudsman neither suspends this period nor opens a new period for lodging appeals.