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New York Mellon Named Custodian for TARP 

Oct 15, 2008By

The Treasury Department announced Tuesday it has hired The Bank of New York Mellon Corp. [stock BK][/stock] to serve as custodian on the Troubled Asset Relief Program. The New York City-based firm will assist with custodial, accounting, auction management other administration duties regarding the complex portfolio of troubled assets that will be purchased with some of the $700 billion in funds provided through the Emergency Economic Stabilization Act.

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