Securities Lending Gets NYT Make-Over

The educational spotlight is shining brightly on securities lending. In September a collection of industry bodies published a series of guides to help pension funds make sense of the $2.5 trillion securities lending market. Now the New York Times has published an excellent in-depth article and explanatory video on how beneficial owners ended up losing a lot of money during the financial crisis because of careless securities lending practices by agent lenders.For Global Custodian's coverage on the securities lending cash collateral reinvestment crisis, published in 2009, click here and here.