5210. Government issued or guaranteed bonds, debentures, treasury bills, notes and certain other non-commercial securities not in default

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    1. The minimum Dealer Member inventory margin and client account margin requirements for Government issued or guaranteed bonds, debentures, treasury bills, notes and certain other non-commercial securities not in default are as follows:

       


       

      Term to maturity or redemption

      Minimum margin required as a percentage of market value

      Category (i)

      Governments of Canada, United Kingdom, United States and national governments of countries with a high current credit rating

      Category (ii)

      Canadian provincial government, and obligations of the International Bank for Reconstruction and Development

      Category (iii)

      Canadian and United Kingdom municipal corporations

      Less than 1 year

      1.00%
      x
      number of
      days to maturity
      365

      2.00%
      x
      number of
      days to maturity
      365

      3.00%
      x
      number of
      days to maturity
      365

      Greater than or equal to 1 year and less than 3 years

      1.00%

      3.00%

      5.00%

       

      Greater than or equal to 3 years and less than 7 years 2.00% 4.00%
      Greater than or equal to 7 years and less than 11 years 4.00% 5.00%
      Greater than to equal to 11 years
    2. In subsection 5210(1) category (i), a country with a “high current credit rating” is a country that is currently rated AAA by a designated rating organization.

    3. In subsection 5210(1) category (ii), British Columbia government guaranteed parity bonds, the margin requirement for a long position must be at least 0.25% of the par value of the bonds.

    4. If a security in subsection 5210(1) is redeemable and the security is called for redemption, the term to maturity is the term to the redemption date.

    Notice 21-0028 - Amendments to Dealer Member Rules [IIROC Rules] and Form 1 regarding the securities concentration test and designated rating organizations

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