Vendors

In an agreement finalized in February 2021, the Federal Reserve Bank of Boston retained FTI Consulting, Inc. (“FTI”) as a third-party vendor for workout administration and advisory services for this facility. FTI was selected for this role after evaluating its response to a request for proposal (RFP), which considered its program design and operational capabilities, delivery approach, and service footprint.

In May 2020, the Federal Reserve Bank of Boston selected State Street Bank and Trust Company (State Street) as a third-party vendor to serve as the custodian and accounting administrator for this program. State Street was selected for this role after evaluating its response to a request for proposals, which considered implementation and operational capabilities, as well as overall qualifications needed to support the program.

The Federal Reserve Bank of Boston retained Guidehouse, working in partnership with PwC ("Team Guidehouse-PwC"), as a third-party vendor to provide asset purchase intake and due-diligence as well as credit administration services for this facility. Team Guidehouse-PwC was selected for this role after evaluating its response to a request for proposals (RFP), which considered technological and operational capabilities, the ability to deliver a control environment across an integrated solution, and technical expertise needed to execute the defined services.

The reporting linked to below reflects fees approved for payment to the vendors supporting the Boston Federal Reserve Bank in its implementation and management of the Main Street Lending Program emergency facility authorized by the Board of Governors of the Federal Reserve System and approved by the Secretary of the Treasury, in response to the Covid-19 global pandemic and related economic challenges. The agreements with the majority of these vendors are included at the links above, and have been posted as the agreements were finalized. However, in limited cases, expenses are incurred by the SPV by leveraging previously existing vendor relationships of the Federal Reserve Bank of Boston, as managing member. Related contracts have been negotiated in accordance with organizational policies and procedures and are subject to confidentiality restrictions that preclude public posting. In recognizing the importance of transparency, we will continue to update and post this report, inclusive of all SPV expenses, on a quarterly basis. Questions about this report can be directed to Public Information Officer Joel Werkema, joel.werkema@bos.frb.org / 617-973-3510.