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6 Securities Lending Market Report | December 2022 7

Market Highlights

Global Trends Collateral

Global Securities Lending Market Global Securities On-Loan Government Bond Collateral Held in European Tri-Party by Domicile of Issuers
€26Tn €28.5Tn €2.8Tn €2.7Tn

Dec 22 Jun 22 Dec 22 Dec 21
Europe - 36%
Asia - 30%

Global SL Revenues - Lender to Broker (DataL end) Market Volatility (VIX) North America - 23%
Other - 11%
€ €9.2Bn €8.7Bn 21.67 28.71
Dec 22 Dec 21 Dec 22 Jun 22

S&P 500 Index European Non-Cash Collateral Held in European Tri-Party
3839 3785

Dec 22 Jun 22
Equities - 36%
Corporate Bonds - 12%
Government Bonds - 51%
Other - 2%

Pension Plans - 29%
Global Government Government/Sovereign Entities - 29%
Bonds On-Loan by Insurance Companies - 4%

Client Type Collective Investment Vehicle - 17%
Undisclosed/Other - 13%
Banks/Broker Dealers - 8% Equity Markets Providers

Securities On-Loan
€1.1Tn €1.3Tn

Dec 22 Jun 22
Government Bond Markets

Utilisation Securities On-Loan Lendable Assets
35% 35% €1.2Tn €1.2Tn €19Tn €21Tn

Dec 22 Jun 22 Dec 22 Jun 22 Dec 22 Jun 22