Are all nonbank entities required to register once they have granted a margin stock secured extension of credit?
No. Registration is only required if either of the Regulation U materiality thresholds are met ($200,000 in credit extended during a calendar quarter, or if the aggregate amount of credit outstanding at any time during a calendar quarter is $500,000 or more). Nonbank lenders that do not meet either of the thresholds should simply keep up with their activity levels and register if required.
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