The government is looking for vendors to help it handle the stocks, bonds and warrants it buys from troubled financial institutions.
The Treasury Department has posted a solicitation seeking financial agents to manage securities acquired through programs established under the Emergency Economic Stabilization Act.
Officials note that the securities management agents will not be responsible for handling troubled mortgage loans or troubled mortgage-backed securities, because other managers will handle those assets.
U.S.-based insurers and other U.S.-based financial services companies are eligible to apply.
Any vendors hired must have at least $100 million in dollar-denominated assets under management, Treasury officials say.
A vendor’s primary manager assigned to the Treasury’s account must have at least 10 years of experience in managing assets comparable to the assets in the Treasury’s portfolio.
Applications are due Nov. 13.