DRAFT PBGC RFP 16PBGC24R0010 Attachment 2 - Pricing Schedule.xlsx

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Custodian Banking Services Draft Solicitation
Solicitation number
16PBGC
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This document is a draft Request for Proposal (RFP) from the Pension Benefit Guaranty Corporation (PBGC) for Custodian Banking Services to provide global master custody services for the safekeeping and asset servicing of plan assets. The draft RFP includes a detailed pricing schedule with various line items for services such as custodial account fees, asset-based fees, transaction fees, wire transfer fees, and other miscellaneous services. Additionally, it provides information on international holdings, global trade transactions, and securities lending. The draft RFP is issued solely for informational and planning purposes, and PBGC is not currently seeking quotations or proposals. Respondents are advised that the U.S. Government will not pay for any costs associated with responding to this draft solicitation.

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Other files

File Type Posted
DRAFT PBGC Request for Proposal 16PBGC24R0010 Attachment 4 - Phase II Procedures Processes and Policies Verification.pdf PDF
DRAFT PBGC Request for Proposal 16PBGC24R0010 Attachment 6 - Phase II Securities and Lending Questionnaire.pdf PDF
DRAFT PBGC Request for Proposal 16PBGC24R0010 Attachment 1 - Statement of Work.pdf PDF
DRAFT PBGC Request for Proposal 16PBGC24R0010 - Custodian Banking Services.pdf PDF
DRAFT PBGC RFP 16PBGC24R0010 Attachment 9 - QandA Template.xlsx XLSX spreadsheet
DRAFT PBGC Request for Proposal 16PBGC24R0010 Attachment 5 - Phase II Performance Analytics Questionnaire.pdf PDF
DRAFT PBGC Request for Proposal 16PBGC24R0010 Attachment 3 - Phase I Mandatory Requirements Questionnaire.pdf PDF

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Price Summary

Base/Option PeriodBase/Option Period Total Price
Base PeriodThe Offeror must provide this table for the base and option years.
Option Period 1
Option Period 2
Option Period 3
Option Period 4
Option Period 5
Option Period 6
Option Period 7
Option Period 8
Option Period 9
Contract Total Price (Base and All Option Periods)$ - 0

DRAFT

Menu Based Service Fees

Base Period
CategoryAssumption
PriceAnnual Price
1. Custodial Account Fee (Section 3.1.4)
Active570$0
Passive120$0
Standard Transaction90$0
Commingled50$0The Offeror must provide this table for the base and option years.
2. Asset-Based Fee per Country (in basis points)
International HoldingsCarried from International Holdings Sheet$0
3. Custody Fees (Annualized) (Section 3.1.6 / 3.1.23)25,000$0
4. Transaction Fees per country (International trades per Global Trades Tab (U.S. transactions below)
Depository Trust Corp - Purchases/Sales60,000$0
Federal Reserve Bank - Purchases/Sales20,000$0
Other (Physical Delivery/receipt, asset transfers etc.)5$0
Futures Transactions12,000$0
Options Roundtrip1,100$0
Paydowns (GNMA,FNMA,FHLMC, etc.)30,000$0
Asset Transfers200,000$0
Other (Swaps)2,000$0
Global TradesCarried from Global Trades Sheet$0
5. Income Collection (Section 3.1.5)
Dividends60,000$0
Interest Depository Trust Corp Securities3,000$0
Interest Federal Reserve Bank Securities3,000$0
Other (Section 3.1.5(c))200$0
6. Wire Transfer Fees (Section 9.4 / 9.5 / 9.6)
To Others9,000$0
From Others8,000$0
7. Report Fees (5.2.1.14, 9.0, 12.0)$243,000$0
8. Foreign Exchange Transaction Fees (3.1.17)17,000$0
9. Transition Cost
Transfer securities to Custodian Bank (3.3.9 / 3.3.10)60,000$0
Conversion of Depository Trust Corp Securities57,000$0
Conversion of Federal Reserve Bank Securities3,000$0
Other convesion costs (e.g. Non-US Conversions, etc.)200$0
10. Servicing of Bank Loan (3.1.18)
Minimum monthly charge for 1-10 loans across the entire PBGC Account10$0
Minimum monthly charge for 11-20 loans across the entire PBGC Account10$0
Minimum monthly charge for 21-35 loans across the entire PBGC Account15$0
Minimum monthly charge for 36-50 loans across the entire PBGC Account15$0
Monthly per loan charge there after 50 loans across the entire PBGC account185$0
11. Pricing of OTC and Centrally Cleared Derivatives (3.1.15)4,000$0
12. STIF Fee (5.2.1.17)$2,500,000,000$0
13. Educational Conferences (10.0)12$0
14. Check Processing Services (3.1.8)260$0
Total Menu Based Services Base Period (0001)$0

DRAFT

On-Site Consultant

Base/Option PeriodUnitUnit PriceAnnual Price
Base PeriodPer Month$0
Option Period 1Per Month$0
Option Period 2Per Month$0
Option Period 3Per Month$0
Option Period 4Per Month$0
Option Period 5Per Month$0
Option Period 6Per Month$0
Option Period 7Per Month$0
Option Period 8Per Month$0
Option Period 9Per Month$0
Offerors Fill in Green with Monthly Price

DRAFT

Other Services Pricing

Other Service Pricing CategoryAssumption
Unit PriceAnnual Price
1. Escrow Account Mortgages Section (3.1.7)10$0
2. Transition Mangement Services (Section 5.2.1.2)
Fixed Income Trades1,000$0
Equity Trades Per Transition1,000$0
3. Act as Investment Manager and provide Investment Management Services (Section 5.2.1.4)
1. Russell 3000 Index Fund950,000,000$0
2. REIT Index Fund50,000,000$0
3. MSCI ACWI Ex US IMI800,000,000$0
4. U.S. Aggregate Index Fund1,000,000,000$0
5. Intermediate U.S. Credit Fund3,000,000,000$0
6. Global Aggregate Hedged Fund800,000,000$0
Total Investment Management Fees$0
4. Provide a compliance solution that monitors investment guidelines prescribed from any source (5.2.1.16)35$0
5. Securities Lending Services (Section 5.2.1.5) Note: Annual Gross Revenue, Less Collateral Reinvestment FeeSee Securities Lending Tab$0
Total Optional Pricing$0

Offerors provide a unit price for each optional service in green column.

DRAFT

International Holdings

International Holdings Projections
CountryValue of Holdings (Assumption)Fixed Rate Basis PointsAnnual Projected Price
Argentina13,813$0
Australia73,547,881$0
Austria31,227,734$0
Belgium22,018,455$0
Brazil320,736,673$0
Canada568,671,551$0
Chile16,781,154$0
China73,327,162$0
Columbia92,319,240$0
Czech Republic22,451,893$0
Denmark130,179,311$0
Dominican Republic1,428,714$0
Egypt615,538$0
Euroclear555,087,548$0
Finland22,195,499$0
France268,831,018$0
Germany232,723,940$0
Hong Kong86,773,044$0
Hungary53,239,553$0
India13,331,720$0
Indonesia148,833,243$0
Ireland36,949,956$0
Israel12,847,732$0
Italy131,323,071$0
Japan747,408,390$0
Malaysia128,436,232$0
Mexico263,291,408$0
Netherlands176,909,277$0
Nigeria-$0
Norway22,882,586$0
New Zealand1,523,539$0
Paraguay649,491$0
Peru42,619,664$0
Philippines-$0
Poland32,877,859$0
Portugal32,142,436$0
Romania19,945,330$0
Russia3,638,938$0
Singapore32,979,117$0
Slovak Republic840,099$0
South Africa139,424,129$0
South Korea5,264,173$0
Spain71,447,417$0
Sweden95,717,290$0
Switzerland140,096,953$0
Thailand26,067,303$0
Turkey540,365$0
United Kingdom763,542,954$0
Uruguay8,762,766$0
Total$0
Offerors Fill Green with Fixed rate basis points

DRAFT

Global Trades

Global Trade Transactions Projections
CountryAssumption
Fixed Fee Per TransactionAnnual Projected Price
Argentina5$0
Australia350$0
Austria60$0
Belgium80$0
Brazil160$0
Canada170$0
Cedel/Clearstream140$0
Chile5$0
China350$0
Columbia60$0
Czech Republic10$0
Denmark170$0
Dominican Republic5$0
Egypt5$0
Euroclear6,500$0
Finland70$0
France290$0
Germany460$0
Hong Kong280$0
Hungary30$0
India30$0
Indonesia90$0
Ireland10$0
Israel60$0
Italy230$0
Japan2,300$0
Malaysia70$0
Mexico30$0
Netherlands190$0
Nigeria5$0
Norway110$0
New Zealand20$0
Paraguay5$0
Peru30$0
Philippines5$0
Poland40$0
Portugal30$0
Romania5$0
Russia0$0
Singapore50$0
Slovak Republic5$0
South Africa50$0
South Korea70$0
Spain140$0
Sweden270$0
Switzerland300$0
Thailand20$0
Turkey100$0
United Kingdom800$0
Uruguay3$0
Total$0
Offerors fill in green with Fixed Fee Per Transaction

DRAFT

Securities Lending

Offerors are to complete the table below to provide an estimate of the gross securities lending revenue PBGC can expect
given the assumptions provided. Offerors shall provide any other assumptions the offeror has used to estimate this revenue.
Also, in the second table, please provide an estimate of annual fees, if applicable.
Asset TypeLendable AssetsUtilizationIntrinsic Income for Cash CollateralIntrinsic Income for Non-Cash CollateralCash Collateral Reinvestment IncomeTotal Income
US Treasury$9,000,000,000X.X%$XX,XXX$XX,XXX$XX,XXX$XXX,XXX
US Corp Bond$22,000,000,000X.X%$XX,XXX$XX,XXX$XX,XXX$XXX,XXX
US Equity$2,500,000,000X.X%$XX,XXX$XX,XXX$XX,XXX$XXX,XXX
US Agency$2,000,000,000X.X%$XX,XXX$XX,XXX$XX,XXX$XXX,XXX
NON-US Equity$2,500,000,000X.X%$XX,XXX$XX,XXX$XX,XXX$XXX,XXX
NON-US Fixed Income$2,000,000,000X.X%$XX,XXX$XX,XXX$XX,XXX$XXX,XXX
Total$40,000,000,000X.X%$XXX,XXX$XXX,XXX$XXX,XXX$XXX,XXX
Offeros provide this table for the base and option years.
Assume that the characteristics of the holdings of the asset classes listed above are similar to those of the following indices:
- US Treasury is similar in character to the Bloomberg US Treasury Index.
- US Corp Bond is similar in character to 100% Bloomberg US Corporate Index.
- US Equity is similar in character to the Russell 3000 Index.
- US Agency is similar in character to the Bloomberg US Agency Index.
- Non-US Equity is similar in character to the MSCI EAFE Index.
- Non-US Fixed Income is similar in character to the Bloomberg Global Aggregate Index.
In addition, please base your revenue estimate on the following:
- Revenue estimates should be for an annual period.
- Assume that PBGC will use a cash collateral separate account with a fixed return of 20 bps.
- Assume that you are able to optimize the use of cash and non-cash collateral.
- Please base your estimates on the historical period of 01/01/2023 - 12/31/2023.
- Revenue estimate is gross of collateral reinvestment fee.
Please state in the table below whether you are charging a fee for collateral reinvestment
and what the fee is in basis points as well as an estimated fee in dollars given your
lending estimates above.
Fee (in $)Fee (in bp)
Cash Collateral Reinvestment Fund Fee (annualized)
Total Fees

DRAFT

6 Months Extension (OPTIONAL)

6 Months Extension (Optional) via FAR 52.217-8
CategoryAssumption
PriceAnnual PriceOfferors Fill in Green Area
1. Custodial Account Fee (Section 3.1.4)
Active570$0
Passive120$0
Standard Transaction90$0
Commingled50$0
2. Asset-Based Fee per Country (in basis points)
International HoldingsCarried from International Holdings Sheet$0
3. Custody Fees (Annualized) (Section 3.1.6 / 3.1.23)25,000$0
4. Transaction Fees per country (International trades per Global Trades Tab (U.S. transactions below)
Depository Trust Corp - Purchases/Sales60,000$0
Federal Reserve Bank - Purchases/Sales20,000$0
Other (Physical Delivery/receipt, asset transfers etc.)5$0
Futures Transactions12,000$0
Options Roundtrip1,100$0
Paydowns (GNMA,FNMA,FHLMC, etc.)30,000$0
Asset Transfers200,000$0
Other (Swaps)2,000$0
Global TradesCarried from Global Trades Sheet$0
5. Income Collection (Section 3.1.5)
Dividends60,000$0
Interest Depository Trust Corp Securities3,000$0
Interest Federal Reserve Bank Securities3,000$0
Other (Section 3.1.5(c))200$0
6. Wire Transfer Fees (Section 9.4 / 9.5 / 9.6)
To Others9,000$0
From Others8,000$0
7. Report Fees (5.2.1.14, 9.0, 12.0)$243,000$0
8. Foreign Exchange Transaction Fees (3.1.17)17,000$0
9. Transition Cost
Transfer securities to Custodian Bank (3.3.9 / 3.3.10)60,000$0
Conversion of Depository Trust Corp Securities57,000$0
Conversion of Federal Reserve Bank Securities3,000$0
Other convesion costs (e.g. Non-US Conversions, etc.)200$0
10. Servicing of Bank Loan (3.1.18)
Minimum monthly charge for 1-10 loans across the entire PBGC Account10$0
Minimum monthly charge for 11-20 loans across the entire PBGC Account10$0
Minimum monthly charge for 21-35 loans across the entire PBGC Account15$0
Minimum monthly charge for 36-50 loans across the entire PBGC Account15$0
Monthly per loan charge there after 50 loans across the entire PBGC account185$0
11. Pricing of OTC and Centrally Cleared Derivatives (3.1.15)4,000$0
12. STIF Fee (5.2.1.17)$2,500,000,000$0
13. Educational Conferences (10.0)12$0
14. Check Processing Services (3.1.8)260$0
Total Menu Based Services 6 months Extension (0001)$0
Option PeriodUnitUnit PriceAnnual Price
6 Months Extension (Optional)Per Month$0

DRAFT

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