Data-processing services

Tender description

The Central Bank is responsible for the administration of the Irish Deposit Guarantee Scheme (“DGS”) which compensates depositors in the event of a credit institution failing. In the event of a liquidator being appointed to a credit institution, the Central Bank is obliged to pay compensation up to 100 000 GBP per person per institution to depositors who are deemed eligible under the rules of the scheme within specified deadlines. The Central Bank is seeking a business partner to provide services to support the Central Bank in the administration of the DGS. The Central Bank is responsible for the administration of the Irish Deposit Guarantee Scheme (“DGS”) which compensates depositors in the event of a credit institution failing. In the event of a liquidator being appointed to a credit institution, the Central Bank is obliged to pay compensation up to 100 000 GBP per person per institution to depositors who are deemed eligible under the rules of the scheme within specified deadlines. The Central Bank is seeking a business partner to provide support services as follows: (i) in the event of a covered bank failing and a liquidator being appointed to that institution, the DGS will be invoked. The business partner will be notified and required to immediately increase operational capability in line with the size of the failed institution and its deposit base in order to support the required level of service for a DGS compensation event; (ii) during business as usual (BAU) the successful tenderer will: — run bi-annual stress tests/simulation events to prove readiness of banks to meet DGS obligations, — ongoing data file testing — collect and validate depositor data files from banks and provide feedback on compliance with the DGS data file specification, — engage in bilateral file exchange testing with other European Deposit Guarantee Schemes.