26                                                      2

          
 (, 1%)       (call money rate),
    .         -
    ,    ,  
 ,         
 .

,         10%, 
         11%. ,  
      (   10%)    -
,       ,       
  .

      , -
  .  ,     -
       ,  -
   .

   

        -
  ,   ,    
  (initial margin requirement).  , t/ G,  
      1934 .,     -
    ()     
 ,     ,  
10.    ,     ,  
       ,   -
  ,        .
, .       
   50%,   -    
  55%,           60%.  -
  . 2.1,    ,  
   1934 .,     40  100%.  1994 .  -
 50%11.

,  , ,      
 100   Widget-no $50      
  60%      $3000 (0,6  100  
$50).   , $2000 [(1 - 0,6)  100   $50],   
,    .

 

  {actual margin)    ,  
:

  

,         
     

                 ,
 