Margin excess
Margin excess means the amount by which the equity in the margin account exceeds the required margin. When the margin excess is represented by securities, the current value of the securities is subject to the percentages set forth in 220.12 (the Supplement).
Source
12 CFR § 220.2
Scoping language
The terms used in this part have the meanings given them in section 3(a) of the Act or as defined in this section as follows: