About 15% of the estimated $3 trillion in lendable securities was on loan during the first quarter, according to a survey by the RMA Committee on Securities Lending. The breakdown of lendable securities was: U.S. equities, $1.6 trillion; U.S. corporate bonds, $507 billion; non-U.S. equities, $468 billion; U.S. Treasuries, $242 billion; non-U.S. bonds, $125 billion; and U.S. agencies, $83 billion.
The weighted average return on loans was: non-U.S. equities, 58 basis points; U.S. equities, 57; U.S. corporate bonds, 51; U.S. Treasuries, 42; U.S. agencies, 33; and non-U.S. bonds, 17.
