automated security lending programme (ASLP)

What is automated security lending programme (ASLP)?

automated security lending programme (ASLP) definition and meaning on Finance terms:
A financial operation combining repo and reverse repo transactions where specific collateral is lent against general collateral. As a result of these lending and borrowing transactions, income is generated through the different repo rates of the two transactions (i. e. the margin received). The operation may be conducted under a principal-based programme, i. e. the bank offering this programme is considered the final counterparty, or under an agency-based programme, i. e. the bank offering this programme acts only as agent, and the final counterparty is the institution with which the security lending transactions are effectively conducted. <