Loan collateral, shares outstanding, activity and income from the Stock Yield Enhancement Program is reflected in the following 6 statement sections:
- Cash Report: This shows the starting collateral (either US Treasuries or cash) balance, net change resulting from loan activity (positive if new loans initiated; negative if net returns) and ending collateral balance.
- Net Stock Position Summary: This section displays the lending details for each stock. Net Shares = Shares at IBKR - Shares Lent.
- Interest Accruals: SYEP income is included in the Interest Accrued section and is treated like any other interest accrual (aggregated but only displayed as an accrual when exceeding USD 1 and credited to cash monthly). Interest income generated from SYEP will be reported on Form 1099 issued to US taxpayers.
- Stock Yield Enhancement Program Securities Lent: This section displays all securities the account is lending as of the statement date, along with the SYEP rates and collateral amounts.
- Stock Yield Enhancement Program Securities Lent Activity: Displays the loan activity for each security including newly initiated loans (New Loan Allocation), terminated loans (Loan Return Allocation), the quantities and collateral amounts.
- Stock Yield Enhancement Program Securities Lent Fee Earned Details: Shows the income received on an individual loan basis including the security, quantity lent, collateral amount, the market-based rate and the amount paid to the account. SYEP Fee earned to Customer is calculated by multiplying the Collateral Amount by the SYEP Rate on Customer Collateral and dividing by 360 days. Please note: This section will only be displayed if the SYEP fee earned accrual earned by the client exceeds USD 1 for the statement period.
- Interest: The interest is credited to the account on the third business day of the month in the amount of interest accrued the previous month.