{"abstract":"This document contains a final exemption before the Department of Labor (the Department) which replaces PTE 97-63 (62 FR 66689, December 19, 1997). This exemption permits securities lending transactions between State Street, its United States (U.S.) domiciled affiliates, and certain employee benefit plans (the Client Plan(s)) and/or commingled investment funds holding plan assets (CIF(s)); provided State Street, through any division or U.S. affiliate of State Street or of its parent acts as securities lending agent (or sub- agent). This exemption also permits receipt of compensation by a U.S. registered introducing broker affiliated with State Street (the Introducing Broker) in connection with an arrangement whereby securities are lent to an unrelated U.S. registered broker-dealer (the Clearing Broker) who in turn lends such securities to clients of the Introducing Broker; provided that certain conditions are satisfied. In addition, this exemption incorporates various modifications to specific terms and conditions of PTE 97-63. The replacement of PTE 97- 63 affects the participants and beneficiaries of the Client Plans participating in securities lending transactions and the fiduciaries with respect to such Client Plans.","action":"Grant of individual exemption to replace PTE 97-63.","agencies":[{"raw_name":"DEPARTMENT OF LABOR","name":"Labor Department","id":271,"url":"https://www.federalregister.gov/agencies/labor-department","json_url":"https://www.federalregister.gov/api/v1/agencies/271","parent_id":null,"slug":"labor-department"},{"raw_name":"Employee Benefits Security Administration","name":"Employee Benefits Security Administration","id":131,"url":"https://www.federalregister.gov/agencies/employee-benefits-security-administration","json_url":"https://www.federalregister.gov/api/v1/agencies/131","parent_id":271,"slug":"employee-benefits-security-administration"}],"body_html_url":"https://www.federalregister.gov/documents/full_text/html/2003/06/24/03-15930.html","cfr_references":[],"citation":"68 FR 37526","comment_url":null,"comments_close_on":null,"correction_of":null,"corrections":[],"dates":"This exemption is effective as of February 6, 2003, the date when the Notice of Proposed Exemption (the Notice) was published in the Federal Register.","disposition_notes":null,"docket_ids":["Prohibited Transaction Exemption 2003-19 Application No. D-11122"],"dockets":[],"document_number":"03-15930","effective_on":"2003-02-06","end_page":37534,"executive_order_notes":null,"executive_order_number":null,"full_text_xml_url":"https://www.federalregister.gov/documents/full_text/xml/2003/06/24/03-15930.xml","html_url":"https://www.federalregister.gov/documents/2003/06/24/03-15930/grant-of-individual-exemption-to-replace-prohibited-transaction-exemption-97-63-pte-97-63-involving","images":{},"images_metadata":{},"json_url":"https://www.federalregister.gov/api/v1/documents/03-15930?publication_date=2003-06-24","mods_url":"https://www.govinfo.gov/metadata/granule/FR-2003-06-24/03-15930/mods.xml","not_received_for_publication":null,"page_length":9,"page_views":{"count":51,"last_updated":"2026-09-20 18:15:07 -0400"},"pdf_url":"https://www.govinfo.gov/content/pkg/FR-2003-06-24/pdf/03-15930.pdf","presidential_document_number":null,"proclamation_number":null,"public_inspection_pdf_url":null,"publication_date":"2003-06-24","raw_text_url":"https://www.federalregister.gov/documents/full_text/text/2003/06/24/03-15930.txt","regulation_id_number_info":{},"regulation_id_numbers":[],"regulations_dot_gov_info":{},"regulations_dot_gov_url":null,"significant":null,"signing_date":null,"start_page":37526,"subtype":null,"title":"Grant of Individual Exemption To Replace Prohibited Transaction Exemption 97-63 (PTE 97-63) Involving State Street Bank and Trust Company (State Street) Located in Boston, MA","toc_doc":"State Street Bank  Trust Co.","toc_subject":"Employee benefit plans; individual exemptions:","topics":[],"type":"Notice","volume":68}