Retail equity lending programs are still a drop in the bucket compared to institutional activity, which accounts for the bulk of the $US 717 billion in shares lent to the United States, Galper noted. Schwabs Mathison called his program a „niche service“ for the company. Essentially, you open a new account on which you agree to lend your securities to a brokerage that will then lend these securities to other investors. The most likely consumer who then lends these securities to the broker are those who will short the stock. So, what is a fully paid securities lending program? Essentially, you lend your securities fully paid to a bank or institution, and then they take those securities and lend them to other customers or financial institutions. .