Settlement transaction types
SLRE: Lending Reallocation
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SLRE flags an internal move of a holding that is out on loan, from one of the lender’s safekeeping accounts to another. No new loan starts and no loan ends; only the account the lent position belongs to changes.
- Code
- SLRE
What SLRE means
A lender’s records tie each loan to the safekeeping account the securities came from. If the lent position has to be attributed to another account of the same lender, for example when the agent lender rebalances which underlying fund is lending, the move between accounts is flagged SLRE so that it is not read as a new loan or a return.
The borrower-side equivalent is SBRE. New loans and returns use SECL, and a plain move between a holder’s own accounts with no loan involved uses OWNI.
When you see it
What to do next
- Use SLRE only for reallocations of positions already on loan. If the securities come back from the borrower, the movement is SECL.
- Reallocations stay within one owner’s accounts, so they should not be counted as lending activity for fees or for fails statistics; the code is what lets systems tell them apart.
Where it appears in MT and ISO 20022
MT (ISO 15022)
- MT540, MT541, MT542 and MT543: sequence E (SETDET), field 22F,
:22F::SETR//SLRE. 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//SLRE) 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.