A margin account's credit balance. Fictitious credit exists after the proceeds from a short sale are accounted for with respect to the margin requirement. The proceeds from the short sale are reflected as a credit, but must stay in the account to serve as security for the loan of securities made in a short sale, and are therefore inaccessible to the client for withdrawal.
The credit available on a margin account. This refers to the proceeds from a short sale that are deposited in the account, resulting in extra credit available to the account holder. However, because this credit comes from securities being used as collateral, the fictitious credit is not locked in and, more importantly, the account holder cannot withdraw it directly.
The dollar amount credited to an investor's brokerage account following a short sale. The credit, which represents both the proceeds of the sale and the margin required under Regulation T, is used as collateral for the borrowed shares and may not be withdrawn by the investor.