Securities Finance glossary

Coupon interest that is earned on a bond from the last coupon date to the present date.

A party to a loan transaction that acts on behalf of a client. The agent typically does not take in risk in a transaction.

An agent bank is a bank that performs services in some capacity on behalf of an entity. An agent bank, also known as agency bank, can offer a wide variety of services for businesses looking to expand internationally. Agent banks can offer securities lending as part of their suite of services to clients.

Agent Lending Disclosure provides an industry standard for agent lenders and broker-dealers to exchange underlying principal level detail information related to transactions executed under securities lending agreements. The initiative established a standard process and infrastructure among industry participants.

The sum of the manufactured dividend plus the fee to be paid by the borrower to the lender, expressed as a percentage of the dividend of the stock on loan.

Market price of a bond, plus accrued interest. Generally rounded to the nearest 0.01. Also known as “dirty price”.

Negotiable certificate issued by a US bank representing a specified number of shares (or one share) in a foreign stock that is traded on a US exchange.

When a central bank creates new money electronically to make large purchases of assets.

To calculate your AANA is to sum the total outstanding notional amount of non-cleared derivative positions during a prescribed period on a gross notional basis.