Securities Lending & Repurchase Agreements

<body> <table border="0" cellspacing="0" style="border-collapse: collapse" bordercolor="#111111" width="100%" cellpadding="0" id="table2"> <tr> <td width="780"> <div align="center"> <table border="0" cellpadding="5" cellspacing="0" height="206" style="border-collapse: collapse" bordercolor="#111111" width="100%" id="table3"> <tr> <td align="right" height="198" width="1%"> <p align="left"> <img border="0" src="../images/book_fabozzi_repo.jpg" width="133" height="200"></td> <td valign="top" align="left" height="198"> <table border="0" cellspacing="1" style="border-collapse: collapse" bordercolor="#111111" cellpadding="0" id="table4"> <tr> <td colspan="3" width="0%"> <p class="book_title">Securities Lending & Repurchase Agreements</td> </tr> <tr> <td width="1%" class="book_details_tags" valign="top" height="16" align="left"> <img border="0" src="../images/blank_2x2.gif" width="2" height="2"><img border="0" src="../images/blank_2x2.gif" width="2" height="2"></td> <td width="52%" class="book_details_tags" valign="top" height="144" align="left" rowspan="9"> <map name="FPMap2"> <area href="../main/ratings.htm" shape="rect" coords="71, 0, 162, 32"> </map> <img border="0" src="../images_title/fabozz5.gif" usemap="#FPMap2" width="213" height="158"></td> <td class="book_details" valign="top" height="16" align="left" width="50%"> </td> </tr> <tr> <td width="1%" class="book_details_tags" valign="top" height="16" align="left"> </td> <td class="book_details" valign="top" height="16" align="left" width="50%"> </td> </tr> <tr> <td width="1%" class="book_details_tags" valign="top" height="16" align="left"> </td> <td class="book_details" valign="top" height="16" align="left" width="50%"> </td> </tr> <tr> <td width="1%" class="book_details_tags" valign="top" height="16" align="left"> </td> <td class="book_details" valign="top" height="16" align="left" width="50%"> </td> </tr> <tr> <td width="1%" class="book_details_tags" valign="top" height="16" align="left"> </td> <td class="book_details" valign="top" height="16" align="left" width="50%"> </td> </tr> <tr> <td width="1%" class="book_details_tags" valign="top" height="16" align="left"> </td> <td class="book_details" valign="top" height="16" align="left" width="50%"> </td> </tr> <tr> <td width="1%" class="book_details_tags" valign="top" height="16" align="left"> </td> <td class="book_details" valign="top" height="16" align="left" width="50%"> </td> </tr> <tr> <td width="1%" class="book_details_tags" valign="top" height="16" align="left"> </td> <td class="book_details" height="32" align="center" width="50%" rowspan="2"> </td> </tr> <tr> <td width="1%" class="book_details_tags" valign="top" height="16" align="left"> </td> </tr> </table> </td> </tr> </table> <table border="0" cellpadding="10" cellspacing="0" style="border-collapse: collapse" bordercolor="#111111" width="468" id="table5"> <tr> <td> <script type="text/javascript"></script> <script type="text/javascript" src="http://pagead2.googlesyndication.com/pagead/show_ads.js"> </script> </td></tr> </table> </div> <table border="0" cellpadding="5" cellspacing="0" style="border-collapse: collapse" bordercolor="#111111" width="100%" id="table6"> <tr> <td width="50%" valign="top" rowspan="2"> <table border="0" cellpadding="0" cellspacing="0" style="border-collapse: collapse" bordercolor="#111111" width="100%" id="table7"> <tr> <td width="100%" bgcolor="#333366"> <p class="header_yellow" align="center">Contents</td> </tr> <tr> <td width="100%" class="explanatory_text"> <table border="1" cellpadding="0" cellspacing="5" style="border-collapse: collapse" bordercolor="#CCCCFF" bgcolor="#CCCCFF" width="100%" id="table8"> <tr> <td class="contents_expanded"> <p class="contents_compressed" style="margin-top: 8; margin-bottom: 8">1. The Evolution of Securities Lending </p> <p class="contents_compressed" style="margin-top: 8; margin-bottom: 8">2. The US Dollar Repo Market </p> <p class="contents_compressed" style="margin-top: 8; margin-bottom: 8">3. The Nondollar Repo Market </p> <p class="contents_compressed" style="margin-top: 8; margin-bottom: 8">4. Finding A Route to Market: An Institutional Guide to the Securities Lending Labyrinth </p> <p class="contents_compressed" style="margin-top: 8; margin-bottom: 8">5. Evaluating Lending Options </p> <p class="contents_compressed" style="margin-top: 8; margin-bottom: 8">6. Managing Internal Lending Programs</p> <p class="contents_compressed" style="margin-top: 8; margin-bottom: 8">7. Performance Measurement for Securities Lending</p> <p class="contents_compressed" style="margin-top: 8; margin-bottom: 8">8. Developing Effective Guidelines for Managing Legal Risks -- U.S. Guidelines</p> <p class="contents_compressed" style="margin-top: 8; margin-bottom: 8">9. International Legal and Regulatory Concerns </p> <p class="contents_compressed" style="margin-top: 8; margin-bottom: 8">10. The Fundamentals of Fixed Income Securities </p> <p class="contents_compressed" style="margin-top: 8; margin-bottom: 8">11. Overview of Mortgage-Backed and Asset-Backed Securities</p> <p class="contents_compressed" style="margin-top: 8; margin-bottom: 8">12. Collateralized Borrowing via Dollar Rolls</p> <p class="contents_compressed" style="margin-top: 8; margin-bottom: 8">13. Understanding Cash Collateral Reinvestment Risks</p> <p class="contents_compressed" style="margin-top: 8; margin-bottom: 8">14. Tax Issues Associated with Securities Lending</p> <p class="contents_compressed" style="margin-top: 8; margin-bottom: 8">15. The Accounting Treatment of Securities Lending Transactions</p> <p class="contents_compressed" style="margin-top: 8; margin-bottom: 8">16. The Role of Carry in the Equity Markets</td> </tr> </table> </td> </tr> </table> <p align="center" class="body"> </p> <p> </td> <td width="50%" valign="top" class="body"> <p align="left" class="body_expanded">Fabozzi's edited collection of papers provides an excellent introduction to the repo and securities lending markets. It is a very different book from Steiner (<a href="../titles/steiner_r_(1997).htm">1997</a>), and will appeal to a different audience. It does not target market participants so much as institutional investors who are contemplating a securities lending program. It discusses various options for running a program internally or hiring a custodian or other party to run a program. There is a chapter on performance measurement for a securities lending program, and there is considerable information on the lending of mortgage-backed securities. Another chapter covers repos for non-US debt. Legal and tax issues are discussed in some depth, all from a US standpoint. Unlike many edited collections, the individual chapters of this book are well integrated. Overall, it is an excellent text.</p> </td> </tr> <tr> <td width="50%" valign="bottom" class="body"> <table border="0" cellpadding="5" cellspacing="0" style="border-collapse: collapse" width="100%" bgcolor="#FFFFCC" id="table9"> <tr> <td width="100%" align="left"> <script type="text/javascript"></script> <script type="text/javascript" src="http://pagead2.googlesyndication.com/pagead/show_ads.js"> </script> </td></tr> </table> </td> </tr> </table> <div align="left"> <div align="left"> <div align="left"> <table border="0" cellpadding="10" cellspacing="0" style="border-collapse: collapse" bordercolor="#111111" width="100%" bgcolor="#CCCCFF" id="table10"> <tr> <td width="100%" align="center"> <script type="text/javascript"></script> <script type="text/javascript" src="http://pagead2.googlesyndication.com/pagead/show_ads.js"> </script> </td></tr> </table> </div> <table border="0" cellpadding="10" cellspacing="0" style="border-collapse: collapse" bordercolor="#111111" width="100%" bgcolor="#FFFFCC" id="table11"> <tr> <td width="100%" align="center"> <table border="0" cellpadding="0" cellspacing="0" style="border-collapse: collapse" bordercolor="#111111" bgcolor="#FFFFCC" id="table12"> <tr> <td> <p class="body" style="margin-bottom: 6; margin-left:10"><b><font color="#333366" size="3">For related books, see sections:</font></b></p> <p class="bullet" style="margin-left: 10; margin-top:4; margin-bottom:4"> <img border="0" src="../images/bullet.gif" width="20" height="10"><a target="_top" href="../link_topic/markets_industries_repo_lending.htm">Markets - Repo, Security Lending</a></p> <p class="bullet" style="margin-left: 10; margin-top:4; margin-bottom:4"> <img border="0" src="../images/bullet.gif" width="20" height="10"><a target="_top" href="../link_topic/markets_industries_money_market_fx.htm">Markets - Money Market, FX</a></td> </tr> </table> </td> </tr> </table> </div> </div> </td> <td>  </td> </tr> </table>  <table border="0" style="border-collapse: collapse" width="100%" cellpadding="0" id="table1" bgcolor="#FFFFFF"> <tr> <td colspan="2" height="12"> <p style="margin-top: 0"> </td> </tr> <tr> <td align="right"> <p align="left" style="margin-bottom: 2px"> <a target="_top" href="http://www.riskexpertise.com/link/advertising.htm"> <font size="1" color="#000000" face="Arial">Ads by Contingency Analysis.</font></a></td> <td align="left"> <p align="right" style="margin-bottom: 2px"> <a target="_top" href="http://www.riskexpertise.com/link/advertising.htm"> <font size="1" color="#000000" face="Arial">Advertise on this site.</font></a></td> </tr> <tr> <td align="center" colspan="2">  <iframe src="http://servedbyadbutler.com/adserve/;ID=147917;size=300x250;setID=93136;type=iframe" allowtransparency="true" background-color="transparent" style="margin: 0px; padding: 0px; border-width: 0px" width="300" height="250" frameborder="0" marginwidth="0" marginheight="0" scrolling="no"> <![if lt IE 4]> <script src="http://servedbyadbutler.com/adserve/;ID=147917;size=300x250;setID=93136;type=js" type="text/javascript"> </script> <noscript> <a href="http://servedbyadbutler.com/go2/;ID=147917;size=300x250;setID=93136"> <img src="http://servedbyadbutler.com/adserve/;ID=147917;size=300x250;setID=93136;type=img" border="0" height="250" width="300" alt=""></a> </noscript><![endif]> </iframe>   </td> </tr> </table> <p align="center" style="margin-top: 20"> <map name="FPMap0_I1"> <area href="http://www.riskbook.com" shape="rect" coords="0, 0, 184, 29" target="_top"></map> <img border="0" src="../images/open_book_riskbook.gif" usemap="#FPMap0_I1" width="185" height="30"></p> <p class="a" align="center"><font face="Arial" size="2"><a href="../main/disclaimer.htm">disclaimer</a></font></p> <p class="a" align="center"><span class="verdana10">website:</span> <a target="_top" href="http://www.contingencyanalysis.com"> <font size="2" face="Arial">http://www.contingencyanalysis.com</font></a><br> <span class="verdana10">books direct link:</span> <a target="_top" href="http://www.riskbook.com"><font size="2" face="Arial">http://www.riskbook.com</font></a><br> copyright <font face="Times New Roman">©</font> Contingency Analysis, 1996 - current</p> <p class="a" align="center"><map name="FPMap1_I1"> <area target="_top" href="http://www.contingencyanalysis.com" shape="rect" coords="0, 0, 240, 88"> </map><img border="0" src="../images/logo_book_white.gif" usemap="#FPMap1_I1" width="241" height="89"></p> <p>This page uses frames, but your browser doesn't support them.</p> </body>