Fillable Application Form for firms wishing to become participants in the Bank of England’s Term Funding Scheme with additional incentives for SMEs (TFSME)

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Application Form for firms wishing to become participants in the Bank of England’s Term Funding Scheme with additional incentives for SMEs (TFSME)

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The Application Form for firms wishing to become participants in the Bank of England’s Term Funding Scheme with additional incentives for SMEs (TFSME) form is 7 pages long and contains:

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1
Application Form-
for firms wishing to become participants in the Bank of
England’s Term Funding Scheme with additional incentives
for SMEs (TFSME)
The Term Funding Scheme with additional incentives for SMEs (TFSME) is designed to:
help reinforce the transmission of the reduction in Bank Rate to the real economy to ensure that
businesses and households benefit from the MPC’s actions;
provide participants with a cost-effective source of funding to support additional lending to the real
economy, providing insurance against adverse conditions in bank funding markets;
incentivise banks to provide credit to businesses and households to bridge through a period of
economic disruption; and
provide additional incentives for banks to support lending to SMEs that typically bear the brunt of
contractions in the supply of credit during periods of heightened risk aversion and economic
downturns.
To be eligible to apply for the TFSME, a firm must be a bank or building society and a Participant in the
Discount Window Facility (DWF), which is part of the Bank’s Sterling Monetary Framework (SMF).
The Bank may require other entities within the applicant’s group to provide a guarantee in respect of the
applicant’s obligations to the Bank. Such a guarantee must conform with the pro forma guarantee
published by the Bank on its website. The Bank may require an applicant to provide a legal opinion in
respect of the guarantee from a suitably qualified and experienced external counsel which must conform
with the pro forma legal opinion on the guarantee published by the Bank on its website.
The Bank will require applicants incorporated outside of the UK to provide a legal opinion from a suitably
qualified and experienced in-house lawyer or external counsel on its constitutional capacity to enter into
the TFSME documents; and the Bank may require the provision by the applicant of a legal opinion on the
enforceability of the TFSME Documentation in its jurisdiction of incorporation by suitably qualified and
experienced external counsel. The Bank will notify the applicant when it requires these legal opinions to
be provided and these must conform with the pro forma legal opinions published by the Bank on its
website.
The Bank reserves the right to make checks to verify any information that has been supplied with this
application form.
Eligibility and continued access to the TFSME will be dependent upon a Participant and other members
of its TFSME Group acting, in the opinion of the Bank, in good faith and in a manner consistent with the
objectives of the TFSME. The eligibility criteria, which may be varied at the Bank’s discretion, are set out
in the Operating Procedures and the Terms and Conditions.
2
Instructions for completing this form
Applicants are required to submit updated authorised signatory evidence as part of their application to
the TFSME. Please complete this application form and an updated authorised signatory evidence form,
and send a scan of a physically under-signed copy of both forms to applications@bankofengland.co.uk.
When submitting an authorised signatory evidence form, applicants must also submit supporting
evidence for the authorised signatory evidence form, such as specimen signatures. Guidance on the
supporting evidence can be found on the Bank’s website.
The Declaration and Application sign off must be completed and signed by (an) authorised signatory(ies)
for the applicant.
Overview of the Form
Section 1: General questions
Section 2: Front Office Contact Details
Section 3: Authorised Signatory Evidence Form
Section 4: Declaration and Application Sign Off
3
Section 1: General questions
1. Name of firm (please give the firm’s name as it appears on its certificate of incorporation or equivalent
document, along with any business/trading name).
………………………………………………………………………
2. Name, job title, telephone number, postal address and email address of senior manager(s) responsible
for the firm’s relationship with the Bank with regard to the TFSME.
Name: …………………………………………..
Job Title: ………………………………………….
Telephone Number: ………………………………..
Postal Address:
Postcode: ……………………………………….
Email Address: ……………………………………………………………
3. Name, job title, telephone number, postal address and email address of individual(s) completing the
form.
Name: ……………………………………………………….
Job Title: …………………………………………………….
Telephone Number: ……………………………………………
Postal Address:
Postcode: …………………………………………………..
Email Address: …………………………………………………………….
4. Address of firm (for the purpose of correspondence on this Application Form) and address of head office
where different.
Address of the firm:
Address of head office where different:
5. Country or territory of incorporation of the firm.
……………………………………………
4
6. Please outline your drawing plans in the table below, including any plans to refinance from the Term
Funding Scheme (if applicable).
Date Amount Refinancing TFS? If yes, please
provide details
7. Based on published information regarding the TFSME, please provide a list of the individual legal
entities which you consider should be included in your TFSME Group. A TFSME Group is defined as
all Monetary Financial Institutions
1
(MFIs) and Specialist Mortgage Lenders
2
within your Group (as
defined in the Terms and Conditions) that are required to report statistical lending data to the Bank;
and Non-Bank Credit Providers (NBCPs) which are part of the Participant’s broader Group, as
determined by the Bank. NBCPs are defined as “financial leasing corporations”, “factoring
corporations” and “mortgage and housing credit corporations (excluding SPVs related to
securitisation)”
3
. However, if a Participant is a “ring-fenced body” as defined in Part 9B of Financial
Services and Markets Act 2000, any other member of the Participant’s TFSME Group must also be a
ring-fenced body; and if a Participant is not a ring-fenced body, but is part of a Group containing ring-
fenced bodies, then any other member of its TFSME Group must also not be a ring-fenced body.
1
Monetary Financial Institutions means the subsector defined in the Classification of Accounts Guide paragraph Part
III.2 (in conformity with paragraph 2.75 of the European System of National and Regional Accounts, known as
ESA2010).
2
https://www.bankofengland.co.uk/statistics/details/further-details-about-total-lending-to-individuals-data.
3
See definitions for 15A, 15D and 15E within Parts IV.1 and IV.2 of the Classification of Accounts Guide:
https://www.bankofengland.co.uk/-/media/boe/files/statistics/data-collection/cag201310.
5
Section 2: Front Office Contact Details
Company Name: ……………………………………………
Company Postal Address:
Postcode: ……………………………………………
Please provide contact details for the firm’s Front Office staff with whom participation in the SMF, FLS,
TFS, (if applicable) and the TFSME may be discussed:
Senior Relationship Manager Contact:
Name: ……………………………………………
Position: ……………………………………………
Telephone Number: ……………………………………………
Email Address: …………………………………………………………
Alternate Relationship Manager Contact (if different from the current RM contact):
Name: ……………………………………………
Position: ……………………………………………
Telephone Number: ……………………………………………
Email Address: ………………………………………………………………………
Technical Contact (for the purpose of sharing important technical or system notices):
Name: ……………………………………………
Position: ……………………………………………
Telephone Number: ……………………………………………
Email Address: ………………………………………………………………………
6
Section 3
BANK OF ENGLAND AUTHORISED SIGNATORY EVIDENCE FORM
This form must be completed on behalf of your organisation if you wish to participate in any Bank of
England (the Bank) or Bank of England Asset Purchase Facility Fund Limited (BEAPFF) or any other Bank
subsidiary’s market operations, facilities or schemes (the Facilities). To ensure our records are kept up to
date, the Bank (acting for itself or as Agent for BEAPFF or any other Bank subsidiary) may require that this
form is updated by you from time to time.
NAME OF PARTICIPANT ………………………………………….................................
EFFECTIVE AS FROM ...........................................................................................
Name of
Authorised
Signatory
Specimen Signature (scanned version
acceptable)
E-mail Address
[I] [We]
4
hereby certify:
(i) that the signatures contained on this form are authentic and are true copies of those named;
(ii) [that any person listed above acting singly is] [that any [ ]
5
persons listed above acting jointly are ]
6
duly authorised to sign any and all documentation (as required) for and on behalf of the Participant in
connection with the Facilities,
and that the persons listed above have full authority to bind the Participant
in accordance with the Participant’s internal corporate governance or board approvals;
(iii) that [I am an authorised signatory] [we are authorised signatories]
7
on behalf of the Participant and have
the relevant authority (delegated or otherwise) to complete this form for and on behalf of the Participant.
Signed ...................................... [Signed .............................................
Name
...................................... Name .............................................
Title
...................................... Title .............................................
Authorised Signatory for and on
behalf of the Participant
Authorised Signatory for and on
behalf of the Participant]
8
4
Please delete/remove brackets as appropriate
5
Insert number of persons who should jointly sign documentation if relevant
6
Please delete/remove brackets as appropriate
7
Please delete/remove brackets as appropriate
8
Please delete/remove brackets as appropriate
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Section 4: Declaration and Application Sign Off
By filling out and returning this form to the Bank, the applicant:
(i) applies to become a Participant in the TFSME; and
(ii) represents and warrants to the Bank that the information provided in this Application Form is
true, accurate, and complete to the best of its knowledge (having made reasonable enquiries).
…..............................................
For and on behalf of applicant
Name ................................................
Title ..................................................
Date …………………………………..
This application form is available on the Bank’s website at
https://www.bankofengland.co.uk/markets/bank-of-england-market-operations-guide/information-for-
applicants
Bank of England
March 2020
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Application Form for firms wishing to become participants in the Bank of Englands Term Funding Scheme with additional incentives for SMEs (TFSME)

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Completed 2 May 2020

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