5541. Overall underwriting concentration charge

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    1. Where:

      1. the margin required on some or all commitments is reduced due to either:

        1. obtaining a new issue letter in accordance with section 5521, or

        2. qualifying expressions of interest received from exempt purchasers that have been verbally affirmed but not yet contracted in accordance with section 5522,

      2. and

      3. the aggregate margin requirement reductions in respect of such commitments (determined by comparing the margin requirements calculated in section 5521 and section 5522 with the margin requirements otherwise applicable and calculated in section 5520), exceeds 100% of such Dealer Member's net allowable assets,

    2. such excess shall be added to total margin required pursuant to Form 1. The amount to be deducted may be reduced by the amount of margin provided for as required by section 5521 and section 5522 above on individual underwriting positions and by the amount required to be deducted from risk adjusted capital pursuant to section 5540.

    5542. - 5549.  Reserved.

    There is no history log for this rule.

    There is no history log for this rule.