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#2271729 - 06/15/22 09:04 PM Reg U: - Purchasing or Carrying Margin Stock
Norman Paperman Offline
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Norman Paperman
Joined: Aug 2012
Posts: 1,700
48.934476, -114.343735
I don't get to mess with this reg a whole lot, thank goodness.

While I do have a loan secured by market listed securities, it's purpose is not for the purchase or holding of margin stock. As such, I think I'm exempt from this regulation since the transaction doesn't meet the definition of "purpose credit".

Anyone else have experience with this?
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Maybe you just wanna fly the plane yourself. Well good luck pressing take off, then auto pilot, then land.


CRCM

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Lending Compliance
#2271730 - 06/15/22 09:12 PM Re: Reg U: - Purchasing or Carrying Margin Stock Norman Paperman
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 83,364
Galveston, TX
How much is the loan? Even if it is not a purpose loan, you need a Form FR U-1 completed if the loan amount exceeds $100,000.
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#2271732 - 06/15/22 09:20 PM Re: Reg U: - Purchasing or Carrying Margin Stock Norman Paperman
Norman Paperman Offline
Diamond Poster
Norman Paperman
Joined: Aug 2012
Posts: 1,700
48.934476, -114.343735
smile Right at $100,000.
_________________________
Maybe you just wanna fly the plane yourself. Well good luck pressing take off, then auto pilot, then land.


CRCM

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