Eurosystem Procurement Coordination Office (EPCO)
Credit Rating Agencies Services
As part of its activities, the Eurosystem Procurement Coordination Office (EPCO) is in charge of coordinating joint procurements for central banks of the Eurosystem/ European System of Central Banks (ESCB).
This activity is based on the decision of the European Central Bank of 17 November 2008 laying down the framework for joint Eurosystem procurement (ECB/2008/17), OJ L 319, 29.11.2008, p. 76.
Related to their tasks, central banks require credit ratings data for various purposes, including collateral management, to be provided by registered External Credit Assessment Institutions (ECAIs).
Within this framework a joint procurement of rating agency services was mandated by the Governing Council of the European Central Bank (ECB).
Deutsche Bundesbank acts as Lead Central Bank and contracting authority for the procurement of credit rating agencies services on behalf of the EPCO members.
The minimum requirements which the economic operators need to comply with in order to participate is to be eligible to assess Eurosystem collateral management.
The Lead Central Bank has already started direct negotiations with the respective economic operators in September 2014.
For further information or questions concerning this procurement, please contact the Deutsche Bundesbank or the Banque Centrale du Luxembourg.