“Rescue Plan Update: Treasury Solicits TARP Services; Responses Due Wednesday by 5:00 P.M.”

The U.S. Department of the Treasury yesterday issued three solicitations for financial agents to provide services needed for the effective implementation of the Troubled Asset Relief Program (“TARP”) authorized under the Emergency Economic Stabilization Act of 2008, which was enacted last Friday.  The three services being sought are: 1) Custodian, Accounting, Auction Management, and Other Infrastructure Services; 2) Securities Asset Management Services; and 3) Whole Loan Asset Management Services.  This Stroock Special Bulletin includes links to the Treasury notices and guidelines, and also discusses the high minimum eligibility requirements for financial agents.