securities lending agreement

Subject to … behalf as of the day and year first set forth above.

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�[���������7މ���uso�ߧ �:�es�[���)d���+W�ۻ��xߊ}K�5��F���)�A~�9y�����G�NC�4;)wN� �%�SL��7 ��q9�B 0000075437 00000 n 16 0 obj <> endobj In order to avoid operational risk, the securities lent and those provided as collateral are transferred at the same time. 0000025509 00000 n 0000001187 00000 n 0000063038 00000 n

He acknowledged that the economic effect of a securities lending agreement is similar to a mortgage; however, legally they were quite different. Exchanging one security for another at the same time can be technically challenging, so securities lending is often done in two steps. startxref endstream endobj 17 0 obj <> endobj 18 0 obj <>/Rotate 0/Type/Page>> endobj 19 0 obj <> endobj 20 0 obj <> endobj 21 0 obj <> endobj 22 0 obj <>stream The Lending Agent is authorized to execute securities loan agreements (each an “SLA”) as the Client’s agent on a disclosed basis with Approved Borrowers. 0000076622 00000 n h�b```������ ce`a�8��0��5�`TÔ%������Q�

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LOANS OF SECURITIES 2.1 Lender will lend Eligible Securities to Borrower, and Borrower will borrow Eligible Securities from Lender in accordance with the terms and conditions of this Agreement. Schedule of Fees. He said that arguments that the securities lending agreement was a mortgage were "simply unsustainable".

0000001487 00000 n Securities Loan Agreement. 0000075105 00000 n ����\g��2�f��Lc�$�i^�o����Gx/>��O������I�&����Ur��`|L�icf�R�S|��;�˾��2�ˉ�Tn[���s�2���ͨ�k)� hz � p~ ��~ |wR��F_ ��*�&�(�\�K���]x ނ�Ï���G�4>Gѓ |㤚L"��m���efs���%�b�2 �g��)�R�V�ٷ���0����fw窀U�yE s��xnP�j��h5Z8Z8gJ���u���8�=h(�^��(q��,&@O%f�_{P���/ ��7���f�����#��w�/��$��� �22�\O�I�$=�C�[�]� |A~C~O�H�a8������������2�_1�VD�K?S�O>A9Q9G9_y��叔/)�Uk���N�L�f�S���9���VC>��+ � �H��'d�&�?sRn�\�����Mۘ?2ϒ�R���cA����Go)�Uؔ���7�����\���8q5Ӡبx��ZX��I�&� �/@�9�2�BW\���Wn��'�g�kdp���1r�D{�\��=��A����߭G'�_ѩ�U$FZH��IV��B�����H,�����F�{�����T�@{џ��ƕد�*�|�h7p�'hd��H���0S�f)N�#od۔����Y2��5�4��A� ]E���N -"K�_��8X|W�;�mEG Securities Lending data is provided by DataLend, IHS Markit and FIS Global. This Schedule is attached to and made part of the Securities Lending Authorization Agreement, dated the 28 th day of November, 2007 between THE SELECT SECTOR SPDR ® TRUST, ON BEHALF OF EACH OF ITS RESPECTIVE SERIES AS LISTED ON SCHEDULE B, SEVERALLY AND NOT JOINTLY (the “Funds”) and STATE STREET BANK AND TRUST COMPANY (“State Street”). liability company.

% �6�4}��X��؊y��5�d7�c�#�#�b�1��w��澇�+=h\�ݎ6�C�8�#��n�2W6�N�=��B�3W0����A�3���f�K�w�� �t� 0000070450 00000 n The adjusted allocation shall become effective on incremental gross income starting on the next He also dismissed an argument that the agreement created a charge over the securities. ����ڵ������E�^��"�J�v_ �Ջ��Ha�!㿠Ztݪ %PDF-1.3 %���� (!���_������.��b#���n?�[�4 3���c^W����3�z3�'/����C��9�����`�%���yxj�� �8w�|/�")7;�S٭�/�lC/��rTj�� y ���h� e�F���8q'������۔O+(�|[5� R���Gt���.>G�^o�)��� 6�Z�ͼ�Z������n�J��YnCw�<=6��+����'�}���|�?�LF��W���o�C�s5*Fq��7؈k�*�ճ��=k� }�#'��7�6��|�O*�p�jԉ��M>���R�1o�?�X�����^� #�:�0A�٩�Z��y����f�e��a&x�d��PU����e������`lĦ�By��w`�~�V��.5H��r�L��ilcC}]mMUe*9�"Q^V*�cђH8$������]N��f-��9�Ѡ�i5�Z�T0��va|/?�TD� �h[�s/���k�wa�^��.���R�CJ�!1�7�ƲR�]��n��5���k���a��!׷�u���ow.j�q/�>8~��-��m0�~��Uh]�-+E��:��6���cG�+��^�� � �tm�.���`� �Ͻz�szW{�'�.+ĭ�y�Hh4�2j�o3�jT˷�ӧAw��K�m�;áy���j�깳�����f��6�Xw�y� �[Z�6]�e�&~p����G4��9�Z߻e���T��[ �Ӟ�%��FhmY��qoD�� ��n�p�r��[fv ��f��=�ͻߊ�\�v�%�����y��7� Securities lending agreements are economically similar to repo agreements. xref 0000025292 00000 n

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0000025879 00000 n 0000059798 00000 n 0000001582 00000 n FORM OF SECOND AMENDED AND RESTATED SECURITIES LENDING AGENCY AGREEMENT This Second Amended and Restated Agreement, dated as of             , 2014,

0000060445 00000 n

<<8DA2584EF2D66D41863E5E5C1CAC4BC9>]/Prev 97206>> 0000060012 00000 n 0000077806 00000 n 0000000016 00000 n For securities lending, the collateral may be cash or more commonly other securities. 0000080157 00000 n 0000070365 00000 n business day after the Breakpoint is reached.

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16 31 Background on Repurchase Agreements and Securities Lending A repurchase agreement is the sale of securities coupled with an agreement to repurchase the securities, at a specified price, at a later date (see Duffie (1996) and Garbade (2006)). between each investment company severally and not jointly, identified on Schedule A, as such schedule may be amended from time to time (each a “Client”), acting on behalf of itself or the funds listed on Schedule A thereto and any future 0000069052 00000 n ��k��餟?�

�D� �fHs 1r�����oHI(V�e�bI������I(�;��9�I�=��'h�jhۜ����ifX�3��2ݙ��;�,ftI�w��=UK��� \��A��$Aꃴ�W�T�z3J@�)I!�(�zH[!�t��ʳ�)�8���N~v�!% 1�W��g�s����h��j�Ph��Z�a��j�W���r��ƒ�@��M� �v'�~��i�GA閖B��6_��%O��*�Q@���|�P��0��̹!� 0 under this Agreement means securities, together with cash or other property(in the case of Collateral) as the case may be, of an identical type, nominal value, description and amount to particular Securities or Collateral, as the case may be, so provided.

;�z����e�,gx��t�Ї��U()3�%% ��7��>i ���30�Ҋ�v13Z7�1lg����Z����L��a1C)+��� ��&�F�Z��@=��P��+OiF �` ��)( 0000001250 00000 n *�����h�o ��R�jՂ�����-uk��E�*�y�sg�o���y�ygr��{�?� �!@�6#�D�g���ۗo? 0000001518 00000 n The SLA will be in substantially a form or forms set forth in Schedule B hereto, as such form or forms may be materially amended from time to time with prior written approval of the Client.

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securities lending agreement