Excess Net Capital means the amount shown on the relevant date of determination, under the heading “Computation of Alternative Net Capital Requirement” as shown on Broker/Dealer’s Financial and Operational Combined Uniform Single (FOCUS) reports, or under such other line on Broker/Dealer’s FOCUS reports pursuant to which Broker/Dealer reports its excess net capital.
Excess Net Capital of any Person means the net capital as shown on line 3910 of the FOCUS-II Report for such Person.
Excess Net Capital means, at any time, “excess net capital” computed in accordance with Rule 15c3-1.
Examples of Excess Net Capital in a sentence
As of May 31, 2021, Advantage had Net Capital of $24,587,848, Adjusted Net Capital of$22,589,417 and Excess Net Capital of $10,376,181.
As of May 31, 2020, Advantage had Net Capital of $22,728,534, Adjusted Net Capital of$22,397,476 and Excess Net Capital of $13,583,326.
NSCC has determined that giving a Member 60 calendar days from the date of its move to a higher VaR Tier to meet its higher required minimum Excess Net Capital appropriately balances the financial and other costs associated with requiring the Member to satisfy the higher required minimum Excess Net Capital with the increased risks posed by the Member’s increased daily volatility.
At all times Broker/Dealer shall maintain Excess Net Capital of at least Forty Million Dollars ($40,000,000).
Upon moving to a greater VaR Tier, a Member would then have 60 calendar days from the date of the move to meet the higher required minimum Excess Net Capital for such VaR Tier.
More Definitions of Excess Net Capital
Excess Net Capital means, as of any date the same is to be determined, the Borrower’s Excess Net Capital as shown on line 3910 of the Borrower’s most recent FOCUS Part 2 report.
Excess Net Capital means the aggregate regulatory net capital, as defined in the applicable Capital Requirements, in excess of the aggregate required net capital under the Capital Requirements, as shown on the Borrower’s SEC Forms 10-Q and 10-K.
Excess Net Capital means, as of any date the same is to be determined, the net capital of the Regulated Subsidiaries on a consolidated basis as shown on line 3910 of their respective most recent FOCUS Part 2 report.
Excess Net Capital means net capital reduced by the minimum capital required to be maintained as determined by sub-rule
Excess Net Capital of any Person means the net capital as shown on line 3910 of the FOCUS-II Report for such Person. “Excluded Taxes” means any of the following Taxes imposed on or with respect to a Recipient or required to be withheld or deducted from a payment to such Recipient: (a) Taxes imposed on (or measured by) net income (however denominated), franchise Taxes or branch profits Taxes in each case, (i) imposed as a result of such Recipient being organized under the laws of, or having its principal office or, in the case of any Lender, its applicable lending office located in, the jurisdiction imposing such Tax (or any political subdivision thereof) or (ii) that are Other Connection Taxes, (b) in the case of a Lender, U.S. federal withholding Taxes imposed on amounts payable to or for the account of such Lender with respect to an applicable interest in a Loan or Commitment pursuant to a law in effect on the date on which (i) such Lender acquires such interest in the Loan or Commitment (other than pursuant to an assignment request by the Borrower under Section 2.20(b)) or (ii) such Lender changes its lending office, except in each case to the extent that, pursuant to Section 2.18, amounts with respect to such Taxes were payable either to such Xxxxxx's assignor immediately before such Lender became a party hereto or to such Lender immediately before it changed its lending office, (c) Taxes attributable to such Recipient’s failure to comply with Section 2.18(f), and (d) any withholding Taxes imposed under FATCA. “Existing Credit Agreement” has the meaning assigned to such term in the recitals to this Agreement. “Existing Lender” has the meaning assigned to such term in Section 9.19(b). “FATCA” means Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof, any agreements entered into pursuant to Section 1471(b)(1) of the Code and any law, regulation, rule, promulgation, guidance notes, practices or official agreement adopted pursuant to any intergovernmental agreement, treaty or convention among Governmental Authorities and implementing such Sections of the Code. “FCA” means Financial Conduct Authority of the United Kingdom. “FDIC” means the Federal Deposit Insurance Corporation or any successor entity. “Federal Funds Effective Rate” means, for any day, the rate calculate...
Excess Net Capital means net capital reduced by the minimum capital required to be maintained as determined by subrule (12)(b);
Excess Net Capital. The aggregate amount of the actual net capital for each Broker-Dealer Subsidiary, minus Regulatory Net Capital.