Dhaka, Bangladesh (BBN)- The Securities and Exchange Commission (SEC) on Wednesday extended margin loan adjustment period to October 15 this year under the new criteria set for the stockbrokers and merchant bankers.
On Tuesday, the SEC asked the stockbrokers and merchant banks to follow a net asset value (NAV) calculation for determining new margin loan at ratio of 1:1.
"The investors whose loan exposure exceeds the new ratio should have been reported by September 30, but this period has been extended upto October 15," sources in the SEC were quoted by the Financial Express (FE), a local newspaper, as saying.
The securities regulator will sit with the merchant bankers and stock exchanges on Sunday about implementing method of the new loan margin guideline.
BBN/SI/AD-26Aug10-1:35 am (BST)
