The Equity Securities Lending Market

Jonathan Carroll and Ashwin Clarke
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Jonathan Carroll: Reserve Bank of Australia
Ashwin Clarke: Reserve Bank of Australia

RBA Bulletin (Print copy discontinued), 2014, 31-42

Abstract: An equity securities loan is an arrangement in which one party (the lender) agrees to transfer an equity security to another party (the borrower) temporarily, usually in exchange for collateral and a fee. The market for securities loans is an important component of Australia’s equity market and contributes to its efficiency and smooth functioning. Regulatory developments since the global financial crisis are contributing to significant changes to the equity securities lending market globally, including in Australia. This article discusses some of these changes and how participants in the market could respond.

Keywords: Equity securities lending; short selling; securities lending disclosure; settlement risk; regulatory developments; Financial Stability Board; Basel 3 (search for similar items in EconPapers)
Date: 2014
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