Investment Services Framework

Tender description

The Northern Ireland Housing Executive (NIHE) invites tender from competent service providers to be placed on a framework agreement for Investment Services The framework agreement with a maximum of 4 service providers will be for the provision of money market deposit facilities. This Framework shall include the provision of: 1.Fixed Duration Short Term Investments •NIHE require the facility to place funds on money market deposit. •The duration of the deposit can vary from overnight to 12 months •Fixed rates for the duration of the deposit are required. • No guarantees can be given by NIHE for the value of investments in the future. In order to manage risk, NIHE banking policy mandates that the amount of cash invested with a single service provider is limited. Maximum investment thresholds are limits on the amount of cash that can be invested with an individual service provider. These are determined by reference to the credit ratings of the service provider. (see requirements of service document for details) Tenderers will be required to meet the following minimum Selection Criteria • Tenderers must be authorised and regulated by the Financial Services Authority and quote their FSA registration number. • A minimum financial strength rating is required. Tenderers must provide evidence of their current ratings by Fitch’s, Moody’s and Standard & Poors The lowest rating will determine eligibility. Minimum ratings requirements are as follows:- Short Term Fitch’s F1 Moody’s P-1 Standard & Poors A-1 Long Term Fitch’s A- Moody’s A3 Standard & Poors A-