Specifications include, but are not limited to: The Manager currently maintains a single safekeeping account into which all securities, except those used as collateral for repurchase agreements, that are purchased for the County and the Special Purpose Districts are safe kept. The County currently uses triparty repurchase agreements to provide for the safekeeping of securities purchased on repurchase agreements and are not kept in this account. In order to provide safekeeping service, the Proposer, or the Proposers agent, must: Maintain a Fed wire Securities Services account with the Federal Reserve Bank in order to handle book entry security transactions for U.S. Treasury and Agency securities. The proposer will act as trustee for securities purchased by the Manager, necessitating that the Federal Reserve account into which the securities are transferred, be separate from the account into which the bank safe keeps its own securities.
