5223. Commercial 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 commercial residual debt and stripped coupons not in default are as follows:

      Term to maturity

      Minimum margin required expressed as a percentage of market value

      Category (i)

      Commercial residual debt and stripped coupons

      Category (ii)

      Commercial residual debt and stripped coupons where the underlying security has a market value of 50% or less of par value and has a low current credit rating

      Within 1 year

      4.50%
      x
      number of days to maturity
      365

      50.00%

      Over 1 to 3 years

      9.00%

      Over 3 to 7 years

      10.50%

      Over 7 to 11 years

      15.00%

      Over 11 to 20 years

      Over 20 years

      30.00%

    2. In subsection 5223(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.