Securities credit covers credit subject to Section 7 of the Securities Exchange Act of 1934 or credit by a broker or dealer subject to regulation under the act. The following requirements of Regulation B do not apply EXCEPT:
Securities credit covers credit subject to Section 7 of the Securities Exchange Act of 1934 or credit by a broker or dealer subject to regulation under the act. The following requirements of Regulation B do not apply EXCEPT:
Securities credit generally refers to specific credit transactions that fall under the regulations of the Securities Exchange Act of 1934 and related regulations. The requirements of Regulation B generally do not apply to this type of credit, except for the point that it is not payable by agreement in more than four installments. Therefore, the correct option is that it is not payable by agreement in more than four installments.
The requirements of Regulation B apply to credit transactions for securities, including restrictions regarding information about a spouse or former spouse, marital status, or sex of the applicant, provisions relating to furnishing credit information, and records retention requirements.
B, page 104.