adjusted daily debit balance, definition
adjusted daily debit balance, means the daily balance less applicable free credits. The daily debit balance is the unpaid amount loaned to you as of the close of the business day. Debits and credits resulting from purchases and sales are posted to your account as of the settlement date. A credit balance in your Cash Account will be applied as a reduction of a debit balance in your Margin and/or Short Account. Should you deposit a check or other item that is later returned unpaid, your account may be adjusted to reflect additional interest or other charges that apply.
adjusted daily debit balance, means the daily balance less ap- plicable free credits. The daily debit balance is the unpaid amount loaned to you as of the close of the business day. Debits and credits resulting from purchases and sales are posted to your account as of the settlement date. A credit balance in your Cash Account will be applied as a reduc- tion of a debit balance in your Margin and/or Short Account. Should you deposit a check or other item that is later returned unpaid, your account may be adjusted to reflect additional interest or other charges that apply. The Federal Reserve Board and various self-regulatory organizations re- quire that the maximum amount currently available to you is 50% of the value of marginable securities purchased or held in your account (“initial margin”). The maximum loan available for debt securities varies with the type of se- curity. Your minimum account equity must be $2,000.00, or other amount as may be required by applicable rules, regulations, or SALI house poli- cies. Initial margin and margin maintenance requirements may change without notice. Equity securities with a market value of less than $5.00 per share are not marginable. A margin call (notification to deposit additional collateral) may be issued if your account equity drops below the margin maintenance requirement. Normally, additional collateral will be required if your account equity ▇▇- ▇▇▇▇▇▇ below 30% depending upon such factors as SALI, in its sole dis- cretion, may deem material, including but not limited to the type, price, quantities and marketability of securities, or combination thereof, held in your account. If the market value of a security falls below $3.00 per share, the security will not be assigned a value as collateral to secure your margin obligations. Uncovered option contracts are subject to both initial margin and margin maintenance requirements. These positions involve higher levels of risk and more stringent requirements may be imposed. Please contact your Financial Advisor for details.