{"data":{"id":"us/12-cfr-220.5","jurisdiction":"us","citation":"12 CFR 220.5","heading":"Special memorandum account.","body":"(a) A special memorandum account (SMA) may be maintained in conjunction with a margin account. A single entry amount may be used to represent both a credit to the SMA and a debit to the margin account. A transfer between the two accounts may be effected by an increase or reduction in the entry. When computing the equity in a margin account, the single entry amount shall be considered as a debit in the margin account. A payment to the customer or on the customer's behalf or a transfer to any of the customer's other accounts from the SMA reduces the single entry amount.\n(b) The SMA may contain the following entries:\n(1) Dividend and interest payments;\n(2) Cash not required by this part, including cash deposited to meet a maintenance margin call or to meet any requirement of a self-regulatory organization that is not imposed by this part;\n(3) Proceeds of a sale of securities or cash no longer required on any expired or liquidated security position that may be withdrawn under § 220.4(e); and\n(4) Margin excess transferred from the margin account under § 220.4(e)(2).","path":["Title 12—Banks and Banking","CHAPTER II—FEDERAL RESERVE SYSTEM","SUBCHAPTER A—BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM","PART 220—CREDIT BY BROKERS AND DEALERS (REGULATION T)"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-12.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:24:16Z","sha256":"e30416f3e64ae8094eac02546e9d33e7224c23db3a1db2aa8d6b363c64fcc755","source_id":"us-cfr","stale":true,"prev":"us/12-cfr-220.4","next":"us/12-cfr-220.6"},"notice":"GroundRules: Original legal text. Not legal advice."}