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| Vendor Information |
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| As part of the Federal Reserve's ongoing efforts to enhance transparency, the Federal Reserve Bank of New York is making available information on doing business with the Bank. |
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| Doing Business With Us |
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The New York Fed seeks to acquire high quality goods and services, at competitive terms, from a responsible and diverse supplier base. The Bank procures a variety of goods and services, including general office equipment and supplies; building materials and furnishings; hardware and software; and a range of professional services in areas such as management consulting, accounting and financial services, human resources and technology. |
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Vendor Requirements
Vendors selected to provide goods or services to the Bank may be required to submit to a credit evaluation and to be subject to a background screening administered by the Bank. As a general matter, vendors will be required to agree to certain provisions about confidentiality and information security. All Bank employees are subject to a Code of Conduct that prohibits the acceptance of gifts, gratuities or entertainment from vendors or those seeking to be vendors.
We periodically review the ability of vendors to maintain service quality, delivery, and price expectations, and to meet the responsibility requirements described above.
The Federal Reserve Act exempts Bank purchases from all federal, state, and local sales and use taxes. The Bank pays for goods and services by electronic deposit to a vendor’s bank account, and also makes certain purchases using a purchase card. |
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| Contact Us
If you are interested in registering with the Bank as a potential vendor, please fill out our vendor profile application and submit the completed form, along with any additional information, to: vendor.management@ny.frb.org.
Vendor Profile Application » |
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| Vendor Agreements |
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The New York Fed is making available the agreements with certain vendors related to its financial stability and liquidity activities.
Please note that some information has been redacted in light of confidentiality concerns. We recognize the importance of transparency to our financial stability efforts, and will continue to review disclosure practices with the goal of making additional information publicly available when possible
For further information, please see the Bank's financial statements.
February 17, 2010 Update: The New York Fed's collateral monitoring agreement with BlackRock Financial Management, Inc. has now been posted.
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 CPFF
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MAIDEN LANE LLC
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TALF
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AGENCY MORTGAGE-BACKED SECURITIES PURCHASE PROGRAM
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CITIGROUP RINGFENCING ARRANGEMENT
CITIGROUP RINGFENCING ARRANGEMENT |
VENDOR |
DESCRIPTION |
BlackRock
(1 contract) |
Advisory services |
Pricewaterhousecoopers
(1 contract) |
Advisory services |
Note: While the Bank initially pays the fees and costs related to the above vendors, those fees and costs are subsequently reimbursed by Citigroup. |
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AIG LENDING ARRANGEMENT
AIG LENDING ARRANGEMENT |
VENDOR |
DESCRIPTION |
Ernst & Young LLP
(1 contract) |
Advisory services
(see note4 below) ; Note that pursuant to this contract, E&Y also provided services with respect to ML LLC, ML II, ML III, TALF , in addition to its services related to AIG. |
Morgan Stanley
(2 contracts)
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Advisory services;
Note: Pursuant to this contract, work was also performed for ML II and ML III. |
Note: While the Bank initially pays the fees and costs related to the above vendors, those fees and costs are subsequently reimbursed by AIG. Certain expenses under the E&Y contract were paid by ML LCC, ML II, ML III and TALF LLC. |
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CREDIT, INVESTMENT AND PAYMENT RISK
CREDIT, INVESTMENT AND PAYMENT RISK |
VENDOR |
DESCRIPTION |
Oliver Wyman Group
(1 contract) |
Advisory services |
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LEGAL SERVICES
LEGAL SERVICES |
VENDOR |
Davis Polk & Wardwell LLP
(1 contract) |
Clearly Gottlieb Stein & Hamilton LLP
(2 contracts) |
Sidley Austin LLP
(1 contract) |
Simpson Thacher & Bartlett LLP
(1 contract) |
Note: The above list of law firms are those firms on which the Bank has relied significantly across a range of financial stability activities. The fees paid to the above list of law firms have been paid out of one or more of the following: (1) the Bank, (2) Maiden Lane LLC (or one of the trusts underneath Maiden Lane LLC), (3) Maiden Lane II LLC, (4) Maiden Lane III LLC, (5) CPFF LLC and (6) Money Market Investor Funding Facility LLC. Also, as is customary in financing transactions, the Bank's legal fees were paid by the party seeking financing in some cases. |
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1 The parties to this contract are Deloitte & Touche and the Board of Governors of the Federal Reserve System. Inquires regarding this contract should be directed to the Board of Governors of the Federal Reserve System.
2 Although the detailed description of the scope of work set forth in this contract has been redacted due to confidentiality concerns, a general description of the scope of work is as follows: E&Y was contracted to perform due diligence on the assets in the Maiden Lane LLC portfolio to assess and evaluate the quality and accuracy of financial information provided by Bear Stearns & Co. and obtained from external sources prior to acquisition by the LLC. E&Y identified all cashflows from the determination date through the closing date to facilitate settlement of the assets into the LLC. E&Y tracked and verified post close cash flow adjustments with the Investment Manager.
3 The parties to these contracts are Deloitte & Touche and the Board of Governors of the Federal Reserve System. Inquires regarding these contracts should be directed to the Board of Governors of the Federal Reserve System
4
Although the detailed description of the scope of work set forth in this contract has been redacted due to confidentiality concerns, a general description of the scope of work is as follows:
With respect to AIG, E&Y was contracted to provide advice on the insurance businesses; to perform valuations of the entities posted as collateral; to provide assistance in developing cash flow projections; to provide support for the divestiture process; to provide advice and assistance with domestic and global regulatory issues; to identify and report on compliance with covenants within the Credit Agreement; to provide assistance in assessing accounting and tax considerations, including off-balance sheet arrangements; to provide project management support; to provide advice and assistance on compensation issues; to provide assistance and support in assessing internal audit at the firm; to provide advice and due diligence on contemplated transactions, including SPVs and securitizations; to develop a document repository; and to provide advice and assistance in monitoring business unit performance within AIG.
With respect to ML LLC, ML II, ML III, E&Y was contracted to perform a diagnostic on the operational and financial close procedures, and to assist with the analysis of accounting matters. In addition, with respect to ML II, E&Y was contracted to perform due diligence on the assets to assess and evaluate the quality and accuracy of financial information provided by AIG and obtained from external sources prior to inclusion in the trust. E&Y identified all cashflows from the pricing date through the closing date to facilitate settlement of the assets into the LLC. E&Y tracks and verifies with the administrator all post close factor changes through August 31, 2009. With respect to ML III, E&Y was contracted to perform due diligence on the assets to assess and evaluate the quality and accuracy of financial information provided by AIGFP and obtained from external sources prior to inclusion in the trust. E&Y identified all cashflows from the pricing date through the closing date to facilitate settlement of the assets into the LLC. E&Y tracks and verifies with the administrator all post close factor changes through August 31, 2009. With respect to TALF, E&Y assisted with accounting procedures and the analysis of accounting matters. |
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