Company: PIM
Filing Date: 2025-12-01
Form Type: N-CSR
Source: 0001133228-25-012988
Chunk: 137

Company: PUTNAM MASTER INTERMEDIATE INCOME TRUST
Filing Date: 2025-12-01
Form: N-CSR
Chunk 137
---
,072

NATW

...................

—

—

—

—

—

TDOM

...................

7,501

(1,378)

—

—

6,123

UBSW

...................

187,946

(107,541)

—

(80,405)

—

WPAC

...................

6,327

(44)

—

—

6,283

Total

...................

$2,441,681

$(1,207,793)

$(104,502)

$(937,913)

$191,473

$

1

a

At

September

30,

2025,

the

Fund

received

U.S

Treasury

Bills,

Bonds

and

Notes

as

collateral

for

derivatives.

b

In

some

instances,

the

collateral

amounts

disclosed

in

the

table

above

were

adjusted

due

to

the

requirement

to

limit

the

collateral

amounts

to

avoid

the

effect

of

overcollateralization.

Actual

collateral

received

and/or

pledged

may

be

more

than

the

amounts

disclosed

herein.

#### 9.

#### Other

#### Derivative

#### Information
(continued)

Putnam

Master

Intermediate

Income

Trust

Notes

to

### Financial
Statements

55

franklintempleton.com

Annual

Report

At

September

30,

2025,

OTC

derivative

liabilities,

which

may

be

offset

against

the

Fund's

OTC

derivative

assets

and

collateral

pledged

to

the

counterparty,

are

as

follows:

See

Note

1(e) regarding

derivative

### financial
instruments.

See

Abbreviations

on

page

58.

#### 10.

#### Fair

#### Value

#### Measurements
The

Fund

follows

a

fair

value

hierarchy

that

distinguishes

between

market

data

obtained

from

independent

sources

(observable

inputs)

and

the Fund's

own

market

assumptions

(unobservable

inputs).

These

inputs

are

used

in

determining

the

value

of

the

### Fund's financial
instruments

and

are

summarized

in

the