General loan ?'s
Edward Jones offers 2 types of loans
What is Margin Loan and Personal Loan
Must be entered/approved prior to 12:45 AM CST (Branch has until 12:30 CST)
Dollar amount limit is $25,00
What is same day ACH
The date the trade is filled in the account.
What is trade date
Received funds from an outside firm via a transfer
What is ACAT
Clients can write a check to create a loan
What is Write Your Own Loan check
Account types eligible for a loan
What are single, joint, trust, partnership, sole proprietorship, investment club, corporation and LLC
Wire Transfer is greater than $500k regardless of whether LOA is required
What is bank verification
Regulation T requires liquidation of securities whenever a client fails to pay within the required time.
What is a 90 day restriction
The account needs to be collateralized
What is LCOL
The client needs to write a check via the loan. Where can he find the checks?
What is the back of the checkbook/Green checks
To establish a loan you must have this amount in equity
What is $2k
Disbursements greater than $50,000 if the transfer is going to a different registration than the Edward Jones account.
What is a LOA
This phrase is used to describe the system generated
Message sent to the branch onT+3.
What is Extension needed
A maintenance call was received. How do I see the amount
What is msgs,a
To check if the account is maintained at 35%
What is the MV x .35%
This is required for any loan account
What is a single authorization form
Federal Reserve T4 form (FEDT4) is required.
What is when a non purpose loan is being taken
The date when the purchase is finalized and when money for payment is due
What is settlement date
How much was the loan payoff
What is LNPY
My client wants to transfer securities out. How will it effect SMA
What is -(Loan Value)
Stocks, GNMAs and US Treasury, Corporate Bonds, Municipal Bonds, Mutual Funds and Unit Trust
What are marginable securities
Send a message to RISK in Teams (Kyle Bechtold & Jaimye Coleman) OR DISB-Limit-500 for Cash Service to review IF RISK UNAVAILABLE usually after 4 CST
What is status Activity Review
Employee Accounts, Accounts with returned checks placed against them when the check was used to cover the trade.
What are Accounts NOT Allowed Extensions of Time
My client would like to know our rates
What is viewrates
My client wants to make a loan payment. How does this effect SMA?
What is +(100%)