The minimum Dealer Member inventory margin and client account margin requirements for mortgage-backed securities are as follows:
Minimum margin required expressed as a percentage of market value
Security backed by mortgages and guaranteed as to timely payment of principal and interest by an issuer or its agent
Where the guarantor qualifies:
- under subsection 5220(1) as commercial and corporate debt issuer, 1.25 times the applicable rate set out in subsection 5220(1), or
- under subsection 5222(1) as a bank paper issuer, 1.25 times the applicable rate set out in subsection 5222(1).
5228. - 5229. Reserved.