Transparency data
HM Treasury Consultancy exceptions list - Quarter 2 2010
Updated 1 March 2013
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| DeptName | Organisation Name | Requirement description | Approval month | Basis for Exception |
|---|---|---|---|---|
| HM Treasury | HMT (Asset Protection Agency) | Services: verification of loss claims and underlying controls in Royal Bank of Scotland. | July 10. | This workstream is fundamental to the operation of the Asset Protection Agency (APA). It enables the APA to use data received from the Royal Bank of Scotland (RBS) to protect RBS against exceptional credit losses on a specific portfolio of assets. These activities are outsourced as part of the APA’s operating model, which is based on a small core of permanent in-house staff supported by external experts. This model has been chosen in light of the complexity of the Asset Protection Scheme (APS) and uncertainty over the Scheme’s duration. The costs of this expenditure are recharged in full to RBS. |
| HM Treasury | HMT - Asset Protection Agency | Data management and validation support to Asset Protection Agency | July | This workstream is fundamental to the operations of the Asset Protection Agency (APA). It enables the APA to use data received from Royal Bank of Scotland (RBS) to protect RBS against exceptional credit losses on a specific portfolio of assets. These activities are outsourced as part of the APA’s operating model, which is based on a small core of permanent in-house staff supported by external experts. This model has been chosen in light of the complexity of the Scheme and uncertainty over the Scheme’s duration. The costs of this expenditure are recharged in full to RBS. |
| HM Treasury | HMT - HM TREASURY (Core Department) | Specialist commercial legal services. | July 10. | Requirement necessary to support HMT negotiations for the repayment of a loan made to Iceland to cover obligations to UK depositors. Specialist commercial legal advice required to support in house lawyers. |
| HM Treasury | HMT - HM TREASURY (Core Department) | Actuarial Services for the Equitable Life Payments Scheme (ELPS) Programme - Independent Commission. | August 2010. | Required to enable the Independent Commission to advise HMT on the allocation of funds for the Equitable Life Payment Scheme. This is supporting the Coalition agreement pledge to "implement the Parliamentary and Health Ombudsman’s recommendation to make fair and transparent payments to Equitable Life policy holders, through an independent payment scheme, for their relative loss as a consequence of regulatory failure". |
| HM Treasury | HMT - HM TREASURY (Core Department) | Actuarial support/advice on the Equitable Life Payments Scheme | September | This is required in order to provide actuarial support for HMT in the calculation of relative loss suffered by policyholders as a consequence of regulatory failure. There is also a requirement for ongoing actuarial services with regard to scheme design elements of the scheme. This is a highly complex area that affects approximately 1.5 million people and it is essential that actuarial expertise is available in order to meet the Government’s stated ambition of making first payments to policyholders in the middle of 2011. |
| *Contract values cannot be ascertained at this stage. This information will be published when the work carried out under these contracts is complete. | Not set | Not set | Not set | Not set |