Regulations Governing Securities Borrowing and Lending by Securities Firms Article 22

The delivery and redelivery of the subject securities and collateral securities in a securities borrowing and lending transaction shall be made either by book-entry transfer or by title transfer registration.A securities firm shall transmit the information about any delivery and redelivery of subject securities and collateral securities to the securities exchange or the over-the-counter securities market, with a copy to the centralized securities depository enterprise for delivery of the securities by book-entry transfer, or a notice to the clearing bank for account transfer registration.