Form FR U-1, known as the Purpose Statement, is required under Regulation U for certain types of credit extensions that involve margin stock. Regulation U applies to credit extended by lenders (including banks) for the purpose of buying or carrying margin securities if the loan is secured directly or indirectly by those securities. The purpose of Form FR U-1 is to disclose the purpose of the loan and whether it is for buying or carrying margin securities.
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Cam22
4 months ago