The Treasury Department announced today a solicitation for financial agents to provide asset management services in connection with the implementation of the Capital Purchase Program (CPP). For a link to the solicitation, click here. The requested services would involve the management of a portfolio of senior preferred shares, senior debt, warrants, and other equity securities and debt obligations that the Treasury will receive from both public and private financial institutions participating in the CPP as well as other programs that the Treasury may establish under the Emergency Economic Stabilization Act of 2008 (Act). The Treasury is expected to select multiple asset managers in connection with this solicitation.

To qualify, the organization, among other things, needs to be a "financial institution" as defined in the Act and must meet certain minimum requirements, including having at least $100 million in dollar-denominated assets under management. All interested and eligible parties are required to submit requests by no later than 5:00 p.m. (ET) Thursday, November 13, 2008. 

If you have any questions about the CPP or the above-described solicitation, please contact the following members of the firm's Capital Purchase Program Task Force: Alan Kaplinsky at 215.864.8544 or kaplinsky@ballardspahr.com, or Justin Klein at 215.864.8606 or kleinj@ballardspahr.com.

November 6, 2008
Emergency Economic Stabilization Act Alert

October 23, 2008
Kashkari Testifies Before Senate Banking Committee

October 22, 2008
The Financial Crisis and Federal Intervention Seminar Materials

October 14, 2008
Treasury, Federal Reserve, and FDIC Joint Statement Capital Purchase Program

October 13, 2008
Remarks on TARP to Institute of International Bankers 

October 10, 2008
Congress Extends Tax Deduction for Energy-Efficient Commercial Buildings

October 9, 2008
Renewable Energy Provisions in the Economic Stabilization Bill - Benefits for Public and Private Entities 

October 8, 2008
Secretary Paulson Statement

October 7, 2008
Emergency Economic Stabilization Act of 2008/TARP

October 6, 2008
Employee Benefits and Executive Compensation Issues Connected to Emergency Economic Stabilization Act of 2008

October 6, 2008
Emergency Economic Stabilization Act of 2008

For further information on the act, please contact:

    Dominic De Simone, Practice Leader, Commercial Real Estate Recovery
    Joseph Fanone, Public Finance 
    Thomas Hauser, Business and Finance Department
    Alan Kaplinsky, Consumer Financial Services
    Vincent Marriott III, Bankruptcy, Reorganization and Capital Recovery Group
    Brian Pinheiro, Employee Benefits and Executive Compensation Group


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