Collateral increase/decrease transactions should be ignored in Brokerage accounts [Edited]
A week ago I enrolled in Fidelity Investment's Fully Paid Lending Program < >, which lets get paid interest for lending shares of stocks or ETFs. While the shares are loaned out, Fidelity provides collateral at a bank: "Fidelity will provide you with collateral that is held at a third-party custodial bank. The bank will serve as your collateral agent and hold your collateral in cash or cash-equivalent form. The collateral will be equal to at least 100% of the value of the shares on loan."
And crucially, "Fidelity will adjust the collateral each day to account for mark to market and additional lending activity."
What this means is every day there's Increase or Decrease mark-to-market adjustments of the collateral posted as transactions, with a type of "Financing". This adjustments are measured in "shares", but really are dollars. For example, a $246 reduction of collateral is posted as -246.00 shares.
Quicken dutifully downloads these transactions, and tries to adjust the share balance of some security named "COLLATERAL DELV TO US BANK NA SECURITIES ON LOAN NOT COVERED BY SIPC".
But neither the loan nor the collateral actually affect the portfolio value. You still have all of the original shares in your account, even though they are on load (this is OK). There's no reason to track the collateral. So, I have to delete these transactions every day.
I'm thinking Financing type transactions should be ignored in brokerage accounts.