5211. Government residual debt and stripped coupons not in default

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    1. The minimum Dealer Member inventory margin and client account margin requirements for the Government residual debt and stripped coupons 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

      1.50%
      x
      number of
      days to maturity
      365

      3.00%
      x
      number of
      days to maturity
      365

      4.50%
      x
      number of
      days to maturity
      365

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

      1.50%

      4.50%

      7.50%

      Greater than or equal to 3 years and less than 7 years

      3.00%

      6.00%

      Greater than or equal to 7 years and less than 11 years

      6.00%

      7.50%

      Greater than or equal to 11 years and less than 20 years

      Greater than or equal to 20 years

      12.00%

      15.00%

      15.00%

    2. In subsection 5211(1) category (i), a country with a “high current credit rating” is a country that is currently rated Aaa by Moody’s or AAA by S&P Corporation.

    3. In subsection 5211(1), the maturity date of a coupon or other evidence of interest is the interest payment date.

    There is no history log for this rule.

    There is no history log for this rule.