The meeting also discussed another condition that margin loans
would not be provided against the shares of the companies of such sponsor-directors not complying with the notification.
The offering was announced on March 6, 2019, along with separate financing transactions for the company's Term Loan A-6 facility and incremental margin loans
under its existing margin loan
facility, which the company also has completed.
No official statements have been issued while it is believed that the bank had issued so-called margin loans
Days after replacing an overly cautious securities regulator, Beijing has mounted a multi-pronged effort to revive the market's buzz: It set out the framework for a new tech-stocks exchange, cleared the way for more margin loans
, made it easier for securities firms to buy stocks, and opened the futures and options markets to foreign investors.
The Group had about HK$2.25 billion of the margin loans
outstanding balance (settlement date basis) as at the end of June 2018 while the margin loans
outstanding balance (settlement date basis) was approximately HK$903 million as at 30 September 2017.
Bank of America has reached out to rival lenders seeking to sell some riskier margin loans
after losing $292M on soured credit to South African billionaire and former Steinhoff International chairman Christo Wiese, Bloomberg reports, citing people with knowledge of the matter.
The account is held by a financial institution and includes cheque-writing privileges, credit cards, debit cards, margin loans
, the automatic sweep of cash balances into a money market fund and brokerage services.
As part of the actions it took against Merrill Lynch in June 2016, regulators also filed a cease-and-desist action against Tirrell, tied to the use of client cash to conduct leveraged conversion trades -- conversion trades that used listed options financed by customers through margin loans
extended by Merrill Lynch.
Margin financing was carried out via brokerages that then passed on a portion of the loans to banks, which treated the margin loans
as collateral for loans to the brokerages rather than to the individual borrowers (Tham and Sweeney 2015).
China's outstanding margin loans
-- money investors borrow to buy stocks -- declined for 16 consecutive sessions to Jan.
The change will require financiers to keep 100 percent of the value of their margin loans
on hand in the form of collateral.