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25, 2011 (CENS) -- In response to the short selling of Taiwanese stocks by foreign investors with borrowed securities, the Financial Supervisory Commission (FSC) has resorted to five major measures, including reminding insurance firms to evaluate the returns and cost for lending securities to insurance firms and reviewing the legality of loan-oriented securities borrowing.
First, it will remind insurance firms to evaluate the cost and returns for lending securities to foreign investors, such as the effect on their own stock-investment positions.
For example, through its securities lending program, AIG Financial Products unit was lending securities
, mainly related to the accumulation of insurance reserves, at maturities from over night to 2 weeks in duration.
In a separate interview, Crawford said that "unlike some of our competitors," Schwab itself will not be making any money from lending securities
in the ETFs, "all those revenues will go back to shareholders alone," he pledged.
This reflects the essential character of a special collateral RP as a device for borrowing and lending securities.
Market participants may have come to the conclusion that Treasury would take unprecedented steps to resolve the fails problem and that there was less reason to continue to hold back on lending securities out of concern that the securities might not be returned promptly.
The central bank then put some muscle behind its words by pushing up overnight interest rates by lending securities
to the banking system.