Margin Eligibility Modernization Act

This bill would require the Federal Reserve Board to change its Regulation T within 90 days so that any stock traded over the counter that has a "ready market" counts as an "OTC margin stock." Margin stock is stock that brokers may lend money against when investors buy on credit. If the Board does not issue the rule within 90 days, the new definition would apply automatically until the rule is issued. Five years after the rule is issued, the Board would have to send Congress a report on the credit extended because of the rule and any related risks to the financial system.

Full text and official record on Congress.gov

Sponsors

• Andrew R. Garbarino Republican sponsor
• 1 cosponsors