When your account falls into margin call your loan balance has increased above the acceptable borrowing limit set out in our acceptable securities list (see “What is a Margin Call”).
We endeavour to notify you (and if you wish, your adviser) of a margin call as soon as your portfolio level breaches its buffer level, however it is your responsibility to keep up to date with your loan position. You can login to check the current position of your margin loan through Share Trade.
If your account falls into margin call you have until the day we indicate (usually 2pm EST/EDST the next business day) to rectify the situation. You can do this by one of the following ways:
1. Making a direct deposit into your linked CMA account; or
2. Deposit cash into our account:
Bank: Suncorp Metway Limited
BSB: 484 799
Account Name: Suncorp Metway Limited Margin Lending Operating
You must include your Client Reference Number; or
3. Deposit securities listed on our ASL to cover the amount of your margin call.
4. Sell securities in your portfolio to cover the margin call. To determine the value of shares we require you to sell, use the following formula:Margin call Value /(1 – LVR % of the share you intend to sell)
If you do not take any of these actions, or we cannot contact you (or your adviser) in the required timeframe, we will sell securities from your portfolio to cover the margin call for you, as set out in the Suncorp Margin Lending Terms & Conditions.
When we sell securities we generally will sell securities with the lowest LVR level first, starting at 0 LVR securities until the margin call is resolved.
For more details please call your Account Manager on 1800 805 972, 8am–6pm Monday to Friday or see the Suncorp Margin Lending website.