When the facilities and programs were launched in 2020, some vendor roles were filled through direct negotiations with service providers to expedite program implementation and support the flow of credit to households and businesses in the face of the severe economic disruption caused by the COVID-19 pandemic. The New York Fed did so with a view that, once the immediate need for the facilities to commence operations had passed, those roles would be subject to a competitive procurement process.
As the New York Fed conducted the competitive procurement process, it sought to further support equal opportunity and diversity in the implementation of these facilities. The New York Fed was committed to transparency and inclusive access throughout this process.
The prequalification process to identify potential providers for a CPFF Cash Investment Management Services role occurred in December 2020. On February 1, 2021, the New York Fed decided not to move forward with a request for proposals (RFP) for this role based on an updated assessment of the facility’s business needs.
- Prequalification Materials for CPFF Cash Investment Management Services
- FAQ: CPFF Cash Investment Management Services Prequalification
- CPFF
The prequalification process for the Corporate Credit Facilities Cash Investment Management Services role began in October 2020. It was followed by an RFP process that culminated in the selection of Payden
& Rygel in February 2021.
A separate prequalification process for the Secondary Market Corporate Credit Facility’s Corporate Bond and ETF Investment Management Services roles began in February 2021. On June 3, 2021, the New York Fed decided not to move forward with an RFP for these roles based on an updated assessment of the facility’s business needs.
- Corporate Credit Facilities - Prequalification for Cash Investment Management Services
- FAQ: Corporate Credit Facilities - Cash Investment Management Services Prequalification
- Corporate Credit Facilities - Prequalification Materials for Corporate Bond and ETF Investment Management Services
- FAQ: Corporate Credit Facilities - Corporate Bond and ETF Investment Management Services Prequalification
- Primary Market Corporate Credit Facility (PMCCF)
- Secondary Market Corporate Credit Facility (SMCCF)
The prequalification process for the TALF Cash Investment Management Services role began in February 2021. On April 13, 2021, the New York Fed decided not to move forward with an RFP for this role based on an updated assessment of the facility’s business needs.
