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Home > Markets > Securities Lending and Repo Committee
 

Securities Lending and Repo Committee

The Securities Lending and Repo Committee (SLRC) was formed in 1990.

It is a UK-based committee of international repo and securities lending practitioners and representatives of trade organisations, together with infrastructure providers and the UK authorities.  The committee provides a forum in which structural (including legal) developments in the relevant markets can be discussed by practitioners and the authorities. It continues to be chaired and administered by the Bank of England. The terms of reference of meetings of the SLRC can be found below:

Terms of reference for SLRC (54KB)

Codes of Guidance

The Securities Borrowing and Lending Code of Guidance and the Gilt Repo Code of Guidance are currently under review. Copies of the 2009 Securities Borrowing and Lending Code of Guidance and the 2008 Gilt Repo Code of Guidance are available on request.

For further information please contact:

The Secretary to the Securities Lending and Repo Committee
Bank of England (HO-1)
Threadneedle Street
London EC2R 8AH

 
This Code sets out standards of good practice for gilt repo. It is drawn up on the basis of practice in existing repo markets in London observed by practitioners and regulators and is kept under review. The code was originally produced in November 1995 and was last revised in May 2008 (effective immediately). Hide
 
Securities Lending Guides

A group of financial trade associations published a range of educational materials, designed to enhance pension fund trustees’ understanding of the securities lending market.

The guides were produced and endorsed by the Association of British Insurers, the British Bankers Association, the ICMA European Repo Council, the Investment Management Association, the International Securities Lending Association, Local Authority Pension
Fund Forum, the National Association of Pension Funds and Thomas Murray. The FSA, Bank of England, HM Treasury and The Pensions Regulator also supported the development of these guides.

The following guides were produced:

Press Release 13 September 2010 (109KB)
Securities Lending: An Introductory Guide (603KB)
Securities Lending: Agent Disclosure Code of Guidance (608KB)
Securities Lending: Checklist for Lenders (635KB)

Introduction to Securities Lending

Please see the following link for a quarterly bulletin article on developments in global securities lending markets that was published in 2011.

Developments in the global securities lending market (111KB)

Together with the Association of Corporate Treasurers, British Bankers Association, London Investment Banking Association, International Securities Lending Association and London Stock Exchange, the SLRC sponsored an Introduction to Securities Lending published in March 2004.


Securities Lending and Corporate Governance

In June 2005 the SLRC endorsed the publication of 'Securities Lending and Corporate Governance', a paper exploring how securities lending and good corporate governance can be arranged to minimise conflict to the overall benefit of the institutions involved. The paper was written by Mark Faulkner of Spitalfields Advisors, and was also endorsed by the Association of Corporate Treasurers, the British Bankers' Association, the London Stock Exchange and the National Association of Pension Funds.

Securities Lending and Corporate Governance (1.7MB)

Minutes of the 2014 meetings of the SLRC:

January 2014 (95KB)

Minutes of the 2013 meetings of the SLRC:

October 2013 (98KB)
June 2013 (92KB)
March 2013 (83KB)

 

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