Custodial Banking Services for San Bernardino County Transportation Authority

The San Bernardino County Transportation Authority (SBCTA) is soliciting proposals for custodial banking services to maintain one custody account for their cash and securities. The SBCTA's portfolio is approximately $250 - $300 million in cash and fixed-income domestic securities combined. The selected firm will be responsible for holding all securities in the name of SBCTA, safe-keeping and clearing securities on a delivery versus payment basis, and reporting investments to ensure the protection of SBCTA's security interest. The bank must be familiar with the public sector and investment of public funds, and respond to auditor requests. Services include collecting income, providing an overnight investment vehicle, initiating wire transfers, maintaining records, and providing online reporting of portfolio activity and holdings. The bank will also provide proactive and responsive recommendations and immediately notify SBCTA of potential problems. A firm fixed-price contract will be used for this project.