Treasury's Office of Financial Stability (OFS) obtains supplies and services from private institutions to implement the Emergency Economic Stabilization Act of 2008 (EESA). Financial institutions, law firms, accounting firms, consulting firms, and other entities continue to support Treasury's efforts under TARP to ensure America's financial stability. Treasury retains these businesses through procurement contracts or Financial Agency Agreements. Treasury makes a determination on which of these authorities best applies on a case-by-case basis.
As part of Treasury's commitment to transparency, OFS publishes procurement contracts and Financial Agency Agreements (FAAs) online. Privacy and corporate proprietary information is redacted in accordance with the Freedom of Information Act.
Procurement Contracts
Procurement involves the acquisition of supplies or services by contract with appropriated funds from non-federal sources by and for the use of the Federal Government.
Treasury obtains supplies and services through contracts issued pursuant to the Federal Acquisition Regulation (FAR) and the Department of the Treasury Acquisition Regulation supplement. In general, the FAR requires the solicitation of offers from all interested sources. Additionally, the Emergency Economic Stabilization Act (EESA) grants to the Secretary of the Treasury the authority, under certain specified conditions, to waive specific provisions of the FAR.
To ensure effective implementation of the Secretary's authorities under EESA, Treasury anticipates that a number of contracts will continue to be awarded through previously established FAR provisions applicable under conditions of unusual and compelling urgency rather than full and open competition. Procurements may also be set aside for certain small businesses.
Information on contracts awarded by Treasury is posted on Federal Business Opportunities website and/or on the Federal Procurement Data System.
Procurement Contracts - Competition
Procurement opportunities are posted to the Federal Business Opportunities website at www.fedbizopps.gov.
Businesses may submit capability statements to the Department's Office of the Procurement Executive at ootpe@treasury.gov.
Procurement Contracts - Small Business Utilization
Treasury actively encourages the participation of small businesses including minority, veteran, and women-owned businesses in fulfilling its needs. Treasury's Office of Small and Disadvantaged Business Utilization works closely with TARP and the Small Business Administration to optimize such participation.
Where subcontracting opportunities exist for a given work requirement Treasury requires contractors to submit small business subcontracting plans with specific goals for minority, veteran, and women-owned small business subcontracts.
Contact Treasury's Office of Small and Disadvantaged Business Utilization at TreasuryOSDBU@treasury.gov for information on how small businesses may participate in Treasury contracts and agreements.
Financial Agency Agreements
The Secretary of the Treasury has the authority to designate financial institutions, including banks, savings associations, security brokers or dealers, insurance companies and other entities, to support the implementation of EESA by serving as financial agents to the Treasury.
Treasury has long had the statutory authority through the National Bank Acts of 1863 and 1864, to retain financial agents to provide services on its behalf. EESA broadens that authority to encompass all reasonable duties related to EESA that may be required and permits the retention of a broader class of financial institutions as agents. In general, the financial agent authority is used when a firm is needed to perform services on Treasury's behalf, as when Treasury needs the services of a custodian bank. Selection of financial agents occurs through processes posted on the Treasury website or directed solicitation to qualified vendors.