Minutes of the Securities Lending Committee meeting – March 2026

The Chair opened the meeting and welcomed the members and observers. The Committee discussed ongoing efforts to attract and develop new talent in the securities finance industry. Recent industry-led events have helped reach a wider audience but members noted hiring strategies which are not always inclusive of a broader range of skills. There is broad industry consensus that firms are on track for transition in October 2027. Although members expressed some concern around funding mismatches, they noted progress made on the corporate action workstream and CSDs remain engaged. The Committee discussed the complexities of collateral constraints and market close behaviour, noting that pre-emptive processes are lender-dependent but can reduce problems.