Public Responses to the April 2012 Report on Securities Lending and Repos

The FSB published in April 202 its interim report on securities lending and repos which provided an overview of the markets, description of the securities lending and repos markets' location in the shadow banking system, and discussed the financial stability issues arising from practices in these markets. The FSB indicated that it would welcome comments on this report, in particular, on the financial stability issues by 25 May 2012. These comments are available below.

The FSB wishes to thank those who have taken the time and effort to express their views, which will serve as an input to its workstream on securities lending and repos.

Amundi Asset Management

Association Française de la Gestion financière

Bank of New York Mellon Corporation/ Northern Trust Corporation / State Street Corporation

Bundesverband Investment und Asset Management

European Fund and Asset Management Association

ICMA European Repo Council

ICAP

ICI Global

International Banking Federation

International Securities Lending Association/ Pan Asia Securities Lending Association/ the Risk Management Association

Investment Company Institute

Japanese Bankers Association

JP Morgan Chase Bank

Markit

Securities Industry and Financial Markets Association

UniCredit Group

Union Asset Management Holding