4.12.1 General case
124. In the case of repos or BSBs, the buyer is the collateral taker, while the seller is the collateral provider.
125. In the case of SLB or SFTs involving commodities, the lender is the collateral taker, while the borrower is the collateral provider.
126. In the case of margin loans, the lender is the collateral taker, while the borrower is the collateral provider.
4.12. 2 CCP-cleared SFTs
127. In the case of CCP-cleared SFTs, the CCP interposes itself between the two counterparties to the SFT. Therefore, it will be buyer to the seller, borrower to the lender, seller to the buyer and lender to the borrower.
4.12. 3 Reporting of unsecured lending/borrowing of securities
128. In the case of unsecured lending and borrowing of securities, the counterparty that lends the securities should report itself as the collateral taker, and the counterparty that borrows the securities should report itself in Field 1.9 as the collateral provider.
4.12.4 Reporting of counterparty
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