SIFMA provides comments to the Financial Stability Board (FSB) on the FSB’s Workstream on Securities Lending and Repos’ Interim Report, published April 27, 2012 (Report).  SIFMA highlights the importance and benefits of the U.S. securities lending and repo markets to financial markets and market participants, provides an overview of the long-established and well-developed U.S. regulatory schemes in place, and analyzes several of the Report’s identified financial stability issues, particularly with respect to the U.S. securities lending and repo markets.