US - Pension funds are considering participating to the US Treasury toxic asset purchase plan along with asset managers and investors.
Florida State Board of Administration spokesman Dennis MacKee said SBA continued to evaluate the various economic stimulus and stabilization programs available through the federal government, although it had made no commitment so far.
Meanwhile, the US Treasury announced it was allowing smaller investment managers to participate in its toxic asset purchase plan.
In the latest refined set of guidelines, it highlighted the "Treasury's interest in participation by small, minority and women-owned businesses" as potential investors in the securities portion of the Public Private Investment Program (PPIP).
It also highlighted the potential for further expansion of participants and asset classes and the interaction of the Federal Reserve's Term Asset-Backed Securities Lending Facility (TALF) with the program.
Other ways to participate include providing services such as trade execution, valuation, and other financial services.
The Treasury said it would allow smaller firms to partner prior to or after the application deadline, including after the selection of the initial group of pre-qualified fund managers.
In addition, the guidelines stated "participation criteria will be viewed holistically" and said failure to meet any one criterion will not necessarily disqualify a proposal.
The Treasury launched the PPIP in conjunction with the Federal Deposit Insurance Corporation and the Federal Reserve in a bid "to repair balance sheets throughout the financial system and ensure that credit is available to the households and businesses, large and small, that will help drive us toward recovery".
The deadline for the application by interested firms is 24 April 2009.
PwC, KPMG, EY and Deloitte must break up their consultancy and audit businesses into distinct firms to provide greater focus on the "most challenging and objective audits", the competition watchdog has said.
The Department for Work and Pensions (DWP) has released its first batch of guidance setting out how the guaranteed minimum pension (GMP) conversion legislation may be used to resolve unequal payments.
This week's top stories include the government spending £800,000 on a Gogglebox advert and MPs writing to The Pensions Regulator about its engagement with the Railways Pension Scheme.