Bank of England Seeks Software to Underpin New FX, Balance Sheet Risk Management Framework

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The Bank of England (BoE) has gone to market this week seeking a software and hardware package to underpin its financial risk management processes in a £3 million contract opportunity.

“The Bank intends to identify an economic operator to provide the financial risk architecture simplification (FRAS) solution and services”, it said in the procurement notice, posted Wednesday.

“FRAS delivers a new financial risk management framework covering the Bank’s balance sheet and the UK’s foreign exchange reserves.”

(Those alarmed by the plunging pound amid Brexit uncertainty may be either reassured or alarmed by the news: the Bank of England software hunt comes

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