Current market value

Current market value of:
(1) A security means:
(i) If quotations are available, the closing sale price of the security on the preceding business day, as appearing on any regularly published reporting or quotation service; or
(ii) If there is no closing sale price, the lender may use any reasonable estimate of the market value of the security as of the close of business on the preceding business day; or
(iii) If the credit is used to finance the purchase of the security, the total cost of purchase, which may include any commissions charged.
(2) Any other collateral means a value determined by any reasonable method.


12 CFR § 221.2

Scoping language

The terms used in this part have the meanings given them in section 3 of the Act or as defined in this section as follows:

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