Provision of Macroeconomic Data and Forecast Scenarios for IFRS 9 compliance at UK Export Finance
key details
| Status | complete |
|---|---|
| Category (CPV) | 79300000 +1 more |
| Region | South East |
| Deadline | 4 Apr 2023 |
| Contract start | 19 Jun 2023 |
| Contract end | 19 Jun 2026 |
| Procedure | selective |
| SME suitable | Yes |
| OCID | ocds-b5fd17-bd2db28f-ca9d-4b64-a232-7522d7f02409 |
Award
| Supplier | Value | Date | Status |
|---|---|---|---|
| Oxford Economics | £205,000 | 18 Jun 2023 | active |
description
The requirement is for the incorporation of forward-looking information on an unbiased and probability-weighted basis in the calculation of Expected Credit Losses (ECL). The ECL is comprised of three elements: Exposure at Default (EAD), Loss Given Default (LGD) and Probability of Default (PD). The
requirements of IFRS 9 are typically captured by forecasts of economic conditions -
multiple macroeconomic scenarios with their own probability weights are needed in
the calculation of the ECL. To build, test and operationalise new IFRS 9 models,
UKEF needs to procure 1) macroeconomic time-series historic data and 2)
IFRS 9 compliant macroeconomic forecast scenarios with probability weights.
notice history
1 notice published against this procurement.
| Published | Type | Regime | Notice |
|---|---|---|---|
| 14 Jul 2023 | Award (award) | · | fae13dfa-06e0-4e04-95b2-79eb8adacc5e-662972 |
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source
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