학술논문
Relationships, incentives and securities lending
Document Type
Periodical
Author
Source
Pensions & Investments. Oct 30, 1995, Vol. 23 Issue 22, p14, 1 p.
Subject
Language
ISSN
1050-4974
Abstract
Pension plans have become more demanding of their securities lending agents. No longer is expertise the measure of value added when evaluating agents. Instead, they are expected to reduce borrower search costs and optimally invest collateral within narrowly defined risk constraints. Plans are more adamant about expecting agents to satisfy the assurance objectives and risk tolerances spelled out by program guidelines.