Security lending

[Cod Liver Oil]

Does anyone lend their securities? 
What rates are you getting?

 

[pricingpower]

Interactive Brokers has nice daily reporting, I find it kind of random what is lent out (generally 1-10% of account) and the rates (half of whatever IBKR lists as borrow fee).  You can get burned on tax treatment if higher tax bracket though as the payment-in-leu dividend replacement gets treated as ordinary income instead of tax advantaged (like qualified or REIT dividends that have special rules).  Also believe there is a regulatory requirement that all brokers can lend out your shares without paying you if you are on margin so you probably want to do that in different accounts.  I'm averaging about $8/day of borrow income (5bp to 300bp by position) recently but pretty much gave all of 2023's back on a single dividend I'm still pretty made interactive brokers jammed me on by lending the day before a record date. It's interesting to see what someone out there is shorting.  If you own ETF's the borrow fees pocketed by the manager are part of why an only ~3bp fee from you is enough to pay their bills.

[TwoCitiesCapital]

I use IBKR -

 

The rates are dependent on the security that is being lent and how in demand it was. I believe IBKR has the best profit share arrangement with clients, but may be wrong there.