bank of america corporation, page-12

HF, I understand/know that. My query was

If BOA come on as a sub holder because MC/ML have entered a loan agreement and thus given them shares as collateral wouldn't ML/MC need to lodge a change of sub holder form showing their decrease?

Maybe they are not required to lodge a change since they really are the ultimate owners of the shares?

Not really relevant in the scheme of things but just thought it is interesting.