Lending Fee

Field 2.67 | Matching Date: 2020-04-01 | Tolerance: None | Agent Lender Data Provision: No>

Status: Best Practice Finalised, Last Updated: 26/04/2021

Field 2.67 | Matching Date: 2020-04-01 | Tolerance: None | Agent Lender Data Provision: No

Description:
Fee that the borrower of the security or commodity pays to the lender.

Best Practice:
If Field 2.73 is populated with "TRUE", a value (x11 numerical characters including up to x10 decimals) shall be provided, else the field should be left blank.

Note: For uncollateralised trades, best practice is that conditionality does not mean that a fee cannot be reported where Net Collateral Exposure is set to "FALSE" . I.e. an uncollateralised loan set to "TRUE" in field 2.72 results in 2.73 being "FALSE" still means a Lending Fee can be reported in field 2.67, as there is nothing in the rules precluding doing this (It is mandatory to populate Field 2.67 where 2.72 is "FALSE" and 2.73 is set to "TRUE" but this does not mean that the loan fee on an uncollateralised trade should not be reported).

For an example of whether a lending fee should be provided on a trade, see the following:

Cash Rebate SFTs
Field 2.73 = "FALSE"
Field 2.67 = blank

Cash Pool SFTs
Field 2.73 = "TRUE" or "FALSE"
Field 2.67 = populate

Non-Cash SFTs
Field 2.73 = "TRUE" or "FALSE"
Field 2.67 = populate

Where Field 2.68 (Exclusive Arrangements) is set as "TRUE" members have indicated the fee will not be applied to a trade as it is not possible to apply or apportion given the nature of how exclusive fees are normally arranged on a portfolio basis and there is no other way to report within the current SFTR reporting structure. (SFTR-87)