Settlement transaction types
SBRE: Borrowing Reallocation
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SBRE flags an internal move of a borrowed holding from one of the borrower’s safekeeping accounts to another. The loan stays in place; only the account where the borrowed securities sit changes.
- Code
- SBRE
What SBRE means
A borrower may receive borrowed securities into one account and need them in another, for example to cover a short position held in a different trading book or legal account. The internal move is flagged SBRE so that it is kept apart from the loan receipt and the return, which are SECB.
The lender-side equivalent is SLRE. A move of securities the borrower owns outright between its own accounts is OWNI.
When you see it
What to do next
- Use SBRE only for borrowed positions. When the securities go back to the lender, the movement is SECB.
- Keep the original loan reference in your linkages so the reallocated position can still be traced to the loan when it is recalled.
Where it appears in MT and ISO 20022
MT (ISO 15022)
- MT540, MT541, MT542 and MT543: sequence E (SETDET), field 22F,
:22F::SETR//SBRE. The SETR qualifier is mandatory, so every instruction carries one code (format:4!c/[8c]/4!c; with a data source scheme a proprietary code may be sent instead). - Repeated in the confirmations MT544, MT545, MT546 and MT547 (sequence E,
:22F::SETR//SBRE) and in the MT548 status advice (sequence B, where SETR is mandatory when the sequence is present). - Optional in the statements: MT536 subsequence B1a2 and MT537 subsequences B2b and C2.