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For the second consecutive year, Lehman Brothers has appointed the Global Liquidity Management (GLM) business line of BNP Paribas Securities Services (BPSS) as Collateral Manager for its tri-party collateralized loans operations in France and Germany during the dividend season.

In this role, BNP Paribas Securities Services is responsible for managing securities pledged as collateral for loans or on deposit, marking the collateral to market on a daily basis, and handling margin calls, returns, and substitutions.

These collateral management transactions have flourished in 2002, with more than 15 lenders in the program and a total of EUR 4.4 billion in loans outstanding in Paris and Frankfurt.

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