Office of the Illinois State Treasurer Request for Proposals . . . Securities Lending Services (Custodial and Non-Custodial)

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Office of the Illinois State Treasurer’s
Request for Proposals for
Securities Lending Services (Custodial and Non-Custodial)
I. Introduction
The Office of the Illinois State Treasurer (“Treasurer”) is contemplating the
implementation of an agency securities lending program for various asset pools under its
control. The Treasurer is authorized to lend securities pursuant to 15 ILCS 520/22.5.
The Treasurer does not currently engage in securities lending. The purpose of the RFP is
to evaluate the range of vendor capabilities, including custodial and non-custodial (“third-party”)
securities lending providers. The Treasurer may contract with one or more
vendors. The winning bidder(s) will be expected to operate a “pilot” program for a
period of one year, after which time the Treasurer will evaluate whether to expand the
size and scope of the program. Upon expiration of this term, the Treasurer, in its
discretion, may elect to extend the relationship for a period of time with terms agreed
upon by the parties, consistent with Procurement Regulations. The pilot program will
involve the portfolio attached hereto and designated as “Attachment 1.”
Bidders will be expected to demonstrate how their program meets the investment
objectives of the Treasurer while at all times remaining in compliance with all applicable
statutes, the Treasurer’s Investment Policy and operating requirements.
II. Background Information
1. Portfolio details are attached as Attachment 1.
2. Investments of cash collateral must comply with the Treasurer’s Investment
Policy, which is attached as Attachment 2.
3. The custodian is the Federal Reserve Bank.
III. Questions
Please provide clear, concise answers that address the requested information.
Bidder’s Organizational Information
1. Provide your firm’s complete name, address, telephone number, facsimile number, and
e-mail address. Include the name and title of the primary relationship manager.
General
1. Describe your Securities Lending Program, its level of importance to your
organization and your level of commitment to this program in the context of overall