5222. Bank paper not in default

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    1. The minimum Dealer Member inventory margin and client margin requirements for bank paper not in default are as follows:

      Term to maturity

      Minimum margin required as a percentage of market value

      Category (i)

      Bank acceptances, deposit certificates, promissory notes and debentures issued by a Canadian chartered bank

      Category (ii)

      Bank acceptances, deposit certificates, promissory notes issued by a foreign bank with a net worth (capital + reserves) of not less than $200 million

      Category (iii)

      Canadian and foreign category (i) and (ii) issues and obligations with a market value of 50% or less of par value and with a low current credit rating

      Within 1 year

      2.00%
      x
      number of days to maturity
      365

      50.00%

      Over 1 to 3 years

      6.00%

      Over 3 to 7 years

      7.00%

      Over 7 to 11 years

      10.00%

      Over 11 years

    There is no history log for this rule.

    There is no history log for this rule.