Data Dictionary
Item Number B340
DEBIT BALANCES IN CUSTOMERS' CASH AND MARGIN ACCOUNTS EXCLUDING UNSECURED ACCOUNTS AND ACCOUNTS DOUBTFUL OF COLLECTION NOT OF DEDUCTIONS PURSUANT TO NOTE E, EXHIBIT A, RULE 15C3-3Call confidentiality applies to FFIEC 031/041.
| Series | Start Date | End Date | Confidential? | Reporting Forms |
|---|---|---|---|---|
| SECFB340 | 2000-03-31 | 9999-12-31 | Yes | SEC 1695/1696 |
Data Description:
Debit balances in margin accounts are reduced by the amount by which a specific security (other than an exempted security) which is collateral for margin accounts exceeds in agggegate value 15% of the aggregate value of all securities which collateralize all margin accounts receivable; provided, that the required reduction is not in excess of the amount of the debit balance required to be excluded because of this concentration rule. A specified security is deemed to be collateral for a margin account only to the extent it represents in value not more than 140% of the customer debit balance in a margin account.
Debit balances in customers' cash and margin accounts included in the formula under this item are to be reduced by an amount equal to 1% of their aggregate value. It should be noted, however, that brokers or dealers operating under the alternative method (Rule 15c3-1(f) would reduce total debits in the formula by 3% in lieu of the aforementioned 1%. See respective rule for other requirements regarding the alternative method.
The debit balance under this item shall include the debit in a related draft receivable when immediate credit has not been received on draft shipments of securities purchased by customers, provided that the debit in the customer's account for the purchase of the securities so drafted has been eliminated.
NOTE:
Report on the Focus Report.