The Fully Paid Lending Accrual Detail page in your account will display the applicable rate and quantity of your loaned positions for each day they were on loan. Access the page by navigating to Transactions, selecting Reports, and then choosing the Within the Fully Paid Lending Program accrual detail link. You can see the daily interest accrued from loaned positions by logging on to and accessing the Reports tab under Transactions. You can access this page by logging onto and going to the Accounts tab, then selecting Portfolios. Positions on loan can be seen on the Portfolios page with an “FP” notation. A Line of Credit is an uncommitted demand facility, which means the bank may demand full or partial repayment at any time or elect not to advance funds.Īny loaned shares will always be visible in your account with a notation that the shares are on loan.If your assets are liquidated, there may be adverse tax or other consequences.You are not entitled to an extension of time to resolve a maintenance call.

Morgan Stanley Private Bank can modify its collateral maintenance requirements at any time, without notice to you.You are not entitled to choose which securities in the collateral account are liquidated. Morgan Stanley Private Bank can force the liquidation of any securities pledged as collateral, and can do so without contacting you first.A Line of Credit account is a full-recourse loan and you will be held liable for any deficiency.

You can lose more funds than are held in the collateral account.A decline in the value of your pledged collateral may require you to provide additional funds or securities to avoid a maintenance call.Be sure to carefully review product details, risks, and benefits to ensure this product is right for you.

Securities-based lending involves special risks and is not appropriate for everyone.

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