General provisions.

CFR · 2024-01-01 · US · Title 12

(a) (b) (2) (i) For purposes of calculating the required margin for a security in a margin account, assets held in the good faith account pursuant to § 220.6(e)(1)(i) or (ii) may serve in lieu of margin; (ii) Transfers may be effected between the margin account and the special memorandum account pursuant to §§ 220.4 and 220.5. (c) (1) Reductions in the customer's equity resulting from changes in market prices; (2) Any security in an account ceasing to be margin or exempted; or (3) Any change in the margin requirements prescribed under this part. (d) (e) (i) Cash or any check, draft, or order payable on presentation; or (ii) Any security with sight draft attached. (2) A creditor may treat a security, check or draft as received upon written notification from another creditor that the specified security, check, or draft has been sent. (3) Upon notification that a check, draft, or order has been dishonored or when securities have not been received within a reasonable time, the creditor shall take the action required by this part when payment or securities are not received on time. (4) To temporarily finance a customer's receipt of securities pursuant to an employee benefit plan registered on SEC Form S-8 or the withholding taxes for an employee stock award plan, a creditor may accept, in lieu of the securities, a properly executed exercise notice, where applicable, and instructions to the issuer to deliver the stock to the creditor. Prior to acceptance, the creditor must verify t

official document · source cfr-2024 · id 12:§ 220.3