US Treasury Department Seeking Financial Agent Solicitations By October 8th -

Originally published October 6, 2008

Keywords: Treasury Department, solicitation, Troubled Asset Relief Program, TARP, Emergency Economic Stabilization Act, EESA, financial agent.

We are transmitting to our clients and friends an announcement just posted by the US Treasury Department containing three solicitations for financial agents to provide services that are needed for the effective implementation of the Troubled Asset Relief Program (TARP) authorized under the Emergency Economic Stabilization Act (EESA). These solicitations call for: (1) Custodian, Accounting, Auction Management, and Infrastructure Services; (2) Asset Management Services – Securities; and (3) Asset Management Services – Whole Loan. All responses are due by 5 p.m. EDT this Wednesday, October 8. Because these solicitations are on an extremely expedited schedule, we are including them without comment below, except to note that they contain strict requirements regarding an institution's good standing with the US Government and conflicts of interest. Any questions regarding the terms of the solicitations must be posed before submission.

The announcement and the solicitations also may be accessed directly at http://www.treas.gov/initiatives/eesa/solicitiations.shtml.

October 6, 2008
hp-1185

Treasury Announces Solicitations for Financial Agents
Under the Emergency Economic Stabilization Act

Washington, DC--The Treasury Department posted today three solicitations for financial agents to provide services that are needed for the effective implementation of the Troubled Asset Relief Program authorized under the Emergency Economic Stabilization Act. The three services being sought are:

All interested and eligible parties that meet the requirements and guidelines required of each service should submit requests by the 5 p.m. (EDT) on Oct. 8, 2008. Treasury expects to announce the results of initial selections from these three competitions next week. In some cases more than one financial agent may be chosen.

These services are being obtained through the Treasury's authority to retain financial agents to provide services on its behalf as provided for under the Emergency Economic Stabilization Act. These are not contracts governed by the provisions of the Federal Acquisition Regulation. More information on Treasury's procurement authorities under this Act can be found at: http://www.treasury.gov/press/releases/hp1179.htm.

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