Global Custodial Services

Questions & Answers / Clarifications

This document provides responses to vendor questions regarding the Global Custodial Services opportunity (77344426Q0057).

• SWIFT Connectivity: DFC has SWIFT capabilities for payments but not for SWIFT messaging. Vendors should detail their alternative instruction methods.
• Online Access: Initially, DFC may use voice/email for instructions and desires access to online statements and reporting. Web-based platforms, Bloomberg, or API integrations are of interest.
• Tax Services: Required services include assistance with regulatory and tax filings, reporting, withholding, proxy voting, and liaising with brokers/advisors. DFC owns securities directly and will propose a custodial account structure post-award.
• Transfers to U.S. Treasury: Funds received related to securities will be sent to DFC's account at the U.S. Treasury (New York Federal Reserve Bank) via SWIFT or FEDWIRE, with DFC providing instructions.
• Asset Value: As of December 31, 2025, DFC's exposure is approximately $42 billion, with $650 million in priority custody assets (primarily equity securities and fund investments). Significant portfolio growth is anticipated due to a new $205 billion capital limit.
• Pricing: A firm fixed price contract based on unit pricing is anticipated, with fees specified on separate CLINs for flexibility.
• Transaction Volumes: Immediate custody needs are in India, Australia, and Brazil. Transaction volumes are to be determined. Significant growth is expected.
• Securities Held: Immediate need is for seven priority assets for custody, with significant growth anticipated.

This Q&A document clarifies requirements related to connectivity, reporting, tax services, asset handling, and expected volumes, which may influence vendor proposals and pricing strategies. It also indicates that contracting requirements will be issued at the time of award.

Amendment / Modification

This amendment modifies Solicitation 77344426Q0057.

• Due Date Correction: The due date for quotes has been corrected to Wednesday, May 6th, 2026, by 5:00 PM EDT.
• Evaluation Factors: Section 5, "EVALUATION FACTORS," has been incorporated. The evaluation will consider:
  • Ability to demonstrate capabilities meeting technical requirements.
  • Responses to questions in Section 11.1 Proposal Requirements.
  • Price.
• Submission Instructions: Quotes are to be submitted via email to michael.pasquella@dfc.gov. They should be in separate files for technical qualifications/experience and price. The price quote should include a fee structure table (fixed or tiered) and total costs. Award is anticipated to be Firm-Fixed Price.
• Award Decision: The award will be made to the offeror providing the best value. Negotiations may be conducted, and multiple awards are possible.
• Inquiries: All inquiries should be directed to Michael Pasquella at michael.pasquella@dfc.gov.

• Due date for offers.

• Section 5: "EVALUATION FACTORS" (incorporated).

• The deadline for submitting quotes has been extended to May 6th, 2026, at 5:00 PM EDT.

• Specific instructions regarding quote submission format and evaluation criteria are now detailed.

Questions & Answers / Clarifications

This document provides responses to vendor questions regarding the Global Custodial Services opportunity (77344426Q0057).

• Asset Details: Vendors are asked to provide a list of assets, including market value and settlement/safekeeping market. For private/non-listed assets, specific custody services required should be identified. DFC's exposure was approximately $42 billion as of December 31, 2025, with priority custody assets totaling $650 million. Significant portfolio growth is anticipated due to a new $205 billion capital limit.
• Pricing: A pricing schedule is requested if pricing is dependent on asset value and/or transaction volume. Pricing for private and non-listed assets should be provided for potential future needs, even though there is no current need.
• Accounting & Valuation: DFC requires accounting of activity on held securities, initially on an annual basis. Audited valuation is not required; public market valuations are acceptable.
• Trustee/Trust Services: No trustee/trust services are required. Required services include assistance with regulatory and tax filings, proxy voting, profit repatriation, and liaising with DFC brokers.
• Contract Pricing Model: The Government anticipates a firm fixed price contract based on unit pricing, with each applicable fee specified on a separate contract line-item number (CLIN) for flexibility.
• Historical Data: Immediate need is for $650 million in priority assets for custody, with significant growth expected. The approximate number of securities expected to be held initially is seven priority assets, also expected to grow.

This Q&A document clarifies requirements related to asset details, pricing structures, accounting, and expected volumes, which bidders should consider when preparing their proposals. The contract will be firm fixed price based on unit pricing.

Solicitation / RFP / RFQ

This solicitation, identified by Solicitation Number 77344426Q0057, is for "Global Custodial Services" to be provided by the U.S. International Development Finance Corporation (DFC). The DFC is seeking a custodian bank to hold various securities globally, as it cannot maintain accounts with financial market infrastructure companies. The Blanket Purchase Agreement (BPA) aims to provide program-specific acquisition support services for timely and efficient award of new or recompeted requirements, preventing any lapse in mission-essential support.

• Provide global custodial services for a wide variety of securities (debt instruments, equity securities, stocks, warrants, exchange-traded, OTC, private placement).

• Hold assets and settle securities transactions on behalf of DFC.

• Work with brokers and clearinghouses to finalize transactions.

• Receive, accept, and record all assets delivered to and from DFC's account.

• Transfer funds to the U.S. Treasury.

• Support DFC's financial reporting and compliance with tax and regulatory regimes.

• Provide system interfaces and support for efficient service delivery.

• Maintain robust internal controls over financial reporting and operational processes.

• Obtain an annual Service Organization Control (SOC) 1, Type 2 report.

• Anticipated Contract Type: Firm-Fixed Price (FFP).

• Period of Performance: The government anticipates a single award BPA with a 5-year ordering period, OR a standalone contract with a 12-month base and four 12-month option periods. The final determination will be made prior to award.

• Place of Performance: The vendor's financial institution.

• Offer Due Date: Monday, May 6th, 2026, by 5:00 PM (1700) Eastern Time.

• Submission Method: Quotes are due via email to the contract specialist, Michael Pasquella (michael.pasquella@dfc.gov).

• Evaluation Factors: The award will be made to the responsible offeror whose offer is most advantageous to the government, considering:

  1. Ability to demonstrate capabilities that meet technical requirements.
  2. Responses to questions listed in Section 11.1 Proposal Requirements.
  3. Price.

• Award is anticipated to be Firm-Fixed Price.

• NAICS Code: 522320.

• Size Standard: $47 Million.

• The acquisition is listed as "UNRESTRICTED" but includes options for "SMALL BUSINESS" set-asides and "HUBZONE" price evaluation preference.

• Offerors must register and use FedConnect for communication and submission of documents.

• Inquiries should be directed to Michael Pasquella, Contract Specialist, at michael.pasquella@dfc.gov.