Dictionary – Securities lending explained
The lendable value of your portfolio is the proportion which can be lent under your securities lending agreement. A varied portfolio will contain a broad range of different types of investments. Some of these investments would not be included in your lendable portfolio, simply because they are not defined as securities in a standard lending programme. These would include investments like closed-end funds or commodities. In addition, there are a number of securities which are not lendable. Securities may be non-lendable for a number of reasons including, but not limited to; a lack of liquidity, a lack of demand or the security not being listed. For example, not every type of bond is lendable. Examples of bonds which you would not be able to lend include: