Margin and Securities Lending: Rapid Fire

What this video covers

• Why collateral in a cash account never authorizes margin credit, and the two concrete requirements the firm must have first
• The difference between initial margin (the bouncer) and maintenance margin (the bartender), and why they use different percentages
• The exact Regulation T thresholds: 50% initial, 25% long maintenance, the price-tiered short-stock maintenance matrix, and the 150% total for short nonexempted equity
• Why the $2,000 minimum equity floor has a purchase-cost exception, and how that exception shows up as an exam trap
• How the intraday margin level (IML) replaced the old pattern day trader regime, why deficits track the day's largest negative IML dip, and what triggers the 90-day restriction
• The locate requirement timeline: why the documented borrowing basis must exist before the short sale, never after, and what counts as adequate documentation
• The margin call deadlines: one payment period for Regulation T calls, plus the 15-business-day outer limit for other deficiencies, and why the firm can still liquidate without notice