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Securities Lending



        Market Report                                                                                          Foreword                                                                  4


                                                                                                               Jonathan Lombardo, Chairman, ISLA Board


        An ISLA Publication                                                                                    Market Highlights                                                         6
        13th Edition - August 2020                                                                             Global Market Dynamics                                                    8


                                                                                                               Guest Contribution: State Street                                         16

                                                                                                               Beyond Mechanics: The Intersection of Securities
                                                                                                               Lending and ESG Investing
                                                                                                               Bridget Realmuto LaPerla & Travis Whitmore

                                                                                                               Global Government Bond Markets in Focus                                  24


                                                                                                               Guest Contribution: Credit Benchmark                                     28
                                                                                                               Basel IV Rules: The Impact Upon Capital Markets
                                                                                                               and the Securities Finance Industry
                                                                                                               Mark Faulkner

                                                                                                               Global Equity Markets in Focus                                           38


                                                                                                               Guest Contribution: ISDA                                                 42
                                                                                                               A Digital Future for Financial Markets
                                                                                                               Ciarán McGonagle

                                                                                                               Collateral Dynamics                                                      46


                                                                                                               Data Methodologies                                                       50


                                                                                                               About ISLA                                                               51







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