Wells Fargo announced today the launch of Securities Lending Reporting, a new service that allows participants in its securities lending programmes to access information on their open loans on line, via the bank’s Commercial Electronic OfficeSM (CEOSM) business portal. The service is also available to clients participating in third-party securities lending arrangements.
Securities Lending Reporting offers subscribers the ability to view or download loan detail, earnings and performance information and collateral investment data. Information can be viewed at the individual account level or aggregated into account groups.
“Securities Lending Reporting gives powerful information to customers in our program,” says Robert Smith, Wells Fargo’s head of Securities Lending. “They now have direct access to reporting capabilities that are normally only available from the lending system itself, saving time and increasing their efficiency.”
Wells Fargo Institutional Trust Services, a division of Wells Fargo & Company, provides custody, employee benefit and fund management services to institutional investors. It has $550 billion in assets under administration for over 5,000 clients. They buy trustee, accounting, reporting, administration/recordkeeping, investments, custody and safekeeping services from Wells Fargo, as well as securities lending.