TRE Cash Custody RFR

The Commonwealth of Massachusetts Office of the Treasurer and Receiver General (Treasury) is issuing a Request for Response (RFR) to solicit proposals from qualified firms to provide custody and safekeeping services for deposits of cash and securities to the Treasury's Cash Management Department and/or State Lottery Commission. The Treasury is seeking services such as compliance with relevant state laws, receipt and safekeeping of deposits, exchange of maturing securities, income collection and distribution, and reporting. The Treasury has approximately 1,468 insurance company sub-accounts with $499 million in assets, 220 self-insurance sub-accounts with over $6.3 million, and approximately 1,290 Lottery accounts with $552 million in U.S. Treasury STRIPS. The deadline for responses is August 5, 2022, and the Treasury may award multiple contracts for an initial term of 3 years with two 1-year renewal options. The Treasury is seeking competitive pricing for the services and will evaluate proposals based on technical qualifications as well as participation in the Treasury Supplier Diversity Program and Invest in Massachusetts Plan.

The RFR does not specify any set-aside designations or restrictions on the types of organizations that can respond. The Treasury has not listed any incumbent vendors or current contractors, and there is no mention of any existing infrastructure or technology that requires integration. The RFR does not provide a specific award value or budget range, but the Treasury is seeking the response(s) that demonstrate the best overall value to achieve the Treasury's goals.