BNY Mellon mulls principal sec-lending role
The US custodian says it may look into branching out from its traditional role as an agent lender, although there is no timeline for the move.
BNY Mellon is exploring the possibility of adding principal sec-lending capabilities to its agency securities financing business, with the aim of alleviating liquidity and credit mismatches between prime brokers and beneficial owners of securities.
Having traditionally operated as an agent lender, BNY Mellon would be following up its move last June to fold its sec-lending business into a new division called global collateral services, when it shifted agency lending out of its ass…
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