Company: BCAT
Filing Date: 2025-03-07
Form Type: N-CSR
Source: 0001193125-25-049576
Chunk: 38

Company: BlackRock Capital Allocation Term Trust
Filing Date: 2025-03-07
Form: N-CSR
Chunk 38
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 under Master Securities Lending Agreements (each, an “MSLA”), which provide the right, in the event of default (including bankruptcy or insolvency), for the non-defaulting party to liquidate the collateral and calculate a net exposure to the defaulting party or request additional collateral. In the event that a borrower defaults, the Trusts, as lender, would offset the market value of the collateral received against the market value of the securities loaned. When the value of the collateral is greater than that of the market value of the securities loaned, the lender is left with a net amount payable to the defaulting party. However, bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against such a right of offset in the event of an MSLA counterparty’s bankruptcy or insolvency. Under the MSLA, absent an event of default, the borrower can resell or re-pledge the loaned securities, and the Trusts can reinvest cash collateral received in connection with loaned securities. Upon an event of default, the parties’ obligations to return the securities or collateral to the other party are extinguished, and the parties can resell or re-pledge the loaned securities or the collateral received in connection with the loaned securities in order to satisfy the defaulting party’s net payment obligation for all transactions under the MSLA. The defaulting party remains liable for any deficiency. As of period end, the following table is a summary of ECAT ’ s securities on loan by counterparty which are subject to offset under an MSLA:

| Trust Name/Counterparty        | SecuritiesLoaned at Value | Cash CollateralReceived(a) | Non-Cash CollateralReceived, at Fair Value(a) | NetAmount |
| ECAT                           |                           |                            |                                               |           |
| Citigroup Global Markets, Inc. |                  $910,531 |                 $(910,531) | $—                                            | $—        |
| Jefferies LLC                  |                 1,440,960 |                 -1,440,960 | —                                             | —         |
| Toronto-Dominion Bank          |                 1,525,626 |                 -1,525,626 | —                                             | —         |
|                                |                $3,877,117 |               $(3,877,117) | $—                                            | $—        |

| (a) | Collateral received, if any, in excess of the market value of securities