(US$) a 12 month Loan (bps) bps (bps) Net (US$) Borrower Default Lending Income rolling (US$) a 12 Rebate Indemnification (US$ millions) average) month and Fees (Percent) rolling (bps) average) US Large Cap Eq US Mid & Small Cap Eq U.S. Corp Bonds High Yield Mortgages U.S. Govt Bonds TIPS Non-US Equities For example: $100 million loan outstanding for one year with a 0.20% net spread and a of 80/20 is equal to $160,000 ($100,000,000 x 0.002 x 0.80). CALCULATION WORKSHEET #4 Securities Lending Revenue Estimate Worksheet - #4 (Assume SEC Rule 2a-7 Reinvestment Guideline) Class Lendable Percent on Assets Intrinsic Rebate Re-invest Avg. Daily SFERS Share of Net SFERS Assets Loan (using on Spread Rate in Rate Spreads Income Revenue w/ Securities Lending (US$) a 12 month Loan (bps) bps (bps) Net (US$) Borrower Income (US$ rolling (US$) (using a Rebate Default millions) average) 12 and Fees Indemnification month (bps) (Percent) rolling
(US$) a 12 month rolling average) Loan (US$) (bps) bps a 12 month rolling average) (bps) Net Rebate and Fees (bps) (US$) Borrower Default Indemnification (Percent) Lending Income (US$ millions) US Large Cap Eq US Mid & Small Cap Eq U.S. Corp Bonds High Yield Mortgages U.S. Govt Bonds TIPS Non-US Equities For example: $100 million loan outstanding for one year with a 0.20% net spread and a of 80/20 is equal to $160,000 ($100,000,000 x 0.002 x 0.80). CALCULATION WORKSHEET #4 Securities Lending Revenue Estimate Worksheet - #4 (Assume SEC Rule 2a-7 Reinvestment Guideline) Class Lendable Assets (US$) Percent on Loan (using a 12 month rolling average) Assets on Loan (US$) Intrinsic Spread (bps) Rebate Rate in bps (using a 12 month rolling Re-invest Rate (bps) Avg. Daily Spreads Net Rebate and Fees (bps) Income (US$) SFERS Share of Revenue w/ Borrower Default Indemnification (Percent) Net SFERS Securities Lending Income (US$ millions)
SFERS-Custody-RFP-2015-Appendix-A.docx