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What Does REG U Govern
Extension of Credit to Lenders other than Broker Dealers
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What does REGT Govern
Etension of Credit to Broker Dealers
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What Does REG X Govern
Extension of Credit to those who borrow to buy Securities
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Who Is responsible for the Rules Established By the Federal Reserve Board?
The SEC
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If a deposit of the required amount in a Margin Purchase is not deposited in how many days after settlement, The BD is required to Sell out the position and restrict the account for 90 Days?
2 days after settlement
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In a Freeriding Situation, Under what amount would the BD not be under an obligation to collect funds?
$1,000
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In a DVP/RVP account how many days does an account have to receive/deliver before an extension is needed
35 Days
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When opening a MArgin account 4 Things need to be disclosed to a customer, what are they?
- 1.Conditions under which interst would be charged
- 2.Interest Rate
- 3.Method Of Computing Interest
- 4.Method of determining the debot balance on which interst will be charged
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In a Margin account a statement must be sent at least?
Quaterly
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SEC rule 15c3-3 permits Broker Dealers to use stock with a value of what percent of the customers debit balance as collateral for a bank loan
140%
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In order for a broker Dealer to lend Stock to another Broker Dealer it must sign an agreement that is not part of the margin agreement called?
A loan consent agreement
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If a BD has Pledged its own securities as collateral for a loan and subsequently sells the stock to a customer. It must take the securities and place it in a segregated account in what time frame?
Within 30 Minutes after the opening of banking hours on the business day following settlement date of the trade.
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When A BD hypothecates stock to a Bank... what must it do as far as notice goes
It must notify the bank in writing that the stock belongs to customers and cannot be re hypothecated
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At The bank.... Can the Bank use the firms securities as additional collateral against a loan securitized by customer securities? Can the BAnk Use customer securities to collateralize a loan made to the firm ?
The Firms securities may be used to collateralize a loan already collateralized by customer securities but may not use Customer securities to collateralize a loan alreadty made collateralized by the firms securities.
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If a customer sells stock in a restricted account, what percent of the proceeds may be withdrawn?
50%
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To Determine the point to which the MArket Value would have to decline before a long account is at the 25% minimum equity level.
multiply the debit balance by 1.333333
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In a margin account...With a Purchase for a value under $2,000 how much of a deposit is requred? With a prchase of $3,000?
- Under 2,000 100% is requred
- A $3,000 purchase would be $2,000
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