A margin account in which the equity is below the initial FRB equity requirement.
As defined by Regulation T, a margin account in which the debit balance exceeds the loan value.
A cardholder account which may not be used without authorization.
(1) A margin account in which the equity is less than the current federal requirement. (2) A cash account which has failed to pay for a purchase under Regulation T and must have cash in the account prior to executing a buy for a period of 90 days.