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Loans for the purchase of securities

Loans for the purchase of securities

Loans for the purchase of securities is a kind of credit facility. The difference lies mainly in the credit period and the type of security. Loans for the purchase of shares is the medium-term loan, which is procured for a period of three years and the collateral securities are purchased. Is given in the form of non-cash.

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Is it worth taking a loan to buy shares? Overdraft

Buying on credit shares in public offerings increased reductions in the records and limits the participation of investors. By buying shares on credit be paid, they would have at least become more expensive by 25-30 percent. and it happens less and less - according to a report? Legal Newspapers?. According

Legal Newspapers Financial Supervisory Commission should persuade banks and brokerage houses to reduce the so-called. siphon. Individual investors in initial public offerings (IPOs) continued to procure much more action than is offered and, ultimately, as a result of reduction for every 100 securities or buy a few dozen shares.

GP writes brokerage houses and banks take advantage of this situation by offering loans to buy shares that may increase the chance to purchase a quantities. In practice - according to newspaper - called. siphon investors give nothing, increases the risk and raises the cost of buying shares.

GP
The report also shows that the highest leverage, which has so far been made available to investors was 99 times the capital invested. It offered him a brokerage house IDM SA shares in the records of the developer LC Corp. Credit gave Getin Bank, controlled by Leszek Czarnecki, owner of LC Corp.

In yesterday's interview with Stanislaw Kluza GP, Chairman of Financial Supervisory Commission, said that the FSC can not interfere with the area of \u200b\u200bconduct of market participants.

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broker at ING Bank Slaski

For whom?

For clients of ING Securities.

What features?


purpose of the credit purchase of securities listed on the Warsaw Stock


crediting period - 12 months. You can rollover the loan for the next period (annex to the client signs the credit agreement)


loan amount: The minimum loan amount
10 000 zł
Maximum loan amount: 250% of the total value of the collateral (representing the aggregate value of those assets held in the account investment Applicants, which also appear on the list of securities acceptable to the Bank, the funds accumulated in the investment account and cash deposited as security deposit in the account) per day for lodging an application for credit, but not more than 10,000,000.00 zł.


collateral for loan repayment:
blockade investment account at ING Securities
attorney for the Bank to dispose of the investment account
there is the possibility of collateral in the form of deposits at ING Bank.


interest on the loan are taken from those actually used in the month loan amount on a monthly basis

How do I get?

To receive credit in the account must have a brokerage account with the investment of assets allowing for loan collateral, and then to apply to the Department of the Bank.

Additional information:

during the term of the credit agreement, the Borrower is obliged to maintain security in the investment account in the amount of at least 130% of credit used


borrower is obliged to repay the entire loan amount plus interest and other receivables to last day period in which it was concluded credit agreement


credit is granted in the form of a credit line - The customer can use multiple loan repayment, and the duration of the contract


Please review the list of shares that may be collateral for loans of more than 1 million brokerage. zł. and less than 1 million. zł.

For loan contracts concluded after 23 June 2008. funds from the loan can be used also for the purchase of financial instruments from outside the lists of instruments that may be a collateral loan broker, provided that the sum of security after their use will be at least 130% of the running of the credit. Values \u200b\u200bare not entered on the List is valued client portfolio with a weight of 0, ie, they are not included in calculating the amount of security.

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Loans for the purchase of securities in public offerings in ING Bank Slaski

The large privatization deals, we offer prepared by ING Bank Slaski attractive credit for the purchase of securities on the primary market. Thanks to our customers by providing that the price of the stock market debut of the new shares significantly exceeds their issue price on the primary market and the expectation of big reductions in subscriptions for shares may be offered - with credit - multiply your profits. This credit is in the form preferred line of credit to be used repeatedly for subsequent privatization - the convenience and lower costs is his definite advantage.

Height credit line: from 20,000 to 10,000,000 zł zł, not more than 20 times the Client's assets held in banks, brokerage houses and mutual fund ING (cash and bonds)

maximum leverage: determined by the Bank separately for each offers (for example, 1800% for the purchase of shares in PGNiG SA, 1200% for Grupa LOTOS SA)

Crediting period: 12 months with possibility of extension

Interest: WIBOR 1M + margin of 4%, while which interest is charged only for the use of the loan period from the day:

settlement to purchase a security, if the purchase is through an investment account or in the form of subscription at ING Securities, provided full payment not yet used the credit limit,


debited credit if the purchase is through an investment account or in the form of subscription at ING Securities, a previously used credit limit has not been fully repaid,


debit credit if the purchase is in the form of subscription in a Brokerage House.


Fees

for making (or deferral) at 12 months: 0.05% of the amount of the proposed limit (min. 200 zł)


for launching tranche:
100 000 zł: 0.5% of the tranche
100 001 zł - 300 000 zł: 0.4% of the tranche
300 001 zł - 1 000 000 zł: 0.3% of the tranche
above 1 000 000 zł: 0.2% of the tranche
Additional Information:

credit is revolving line, no need to sign a separate loan agreement to buy another company's shares offered in the primary market


credit can be used to purchase shares through ING Securities, or another brokerage house, where ING Securities does not subscribe to (in this case is required to grant to the Customer for ING Securities attorney with the signature notarized to subscribe for the securities and issue instructions to deposit securities and repayment of overpaid amounts to an account at ING Securities)


at the time of application are taken into account the accumulated customer assets at banks, brokerage houses and mutual fund ING (cash and bonds) - in the case of assets deposited outside the ING Group is required to prove their certificate or extract certified by the institution


for spouses credit line amount - up to 10 million zlotys in total


requires the consent of the spouse is not required to bill


You may submit an application along with instructions to block an investment account at ING Securities POK or in a branch of ING Bank

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Loans for the purchase of shares in Bank Millennium

loan to purchase shares consumer credit is designed for customers of Prestige to finance the purchase of the shares offered in the primary market or in the initial public offering.
credit supply conditions and price conditions are set separately for each issue.

Up simplified procedure

Loans for the purchase of shares in Prestige:

One of the lowest in the market commission for the loan
In the initial loan period (until the allotment of shares), the same interest rate 0%
Low nominal interest rates very competitive loan repayment of loan principal
is done automatically with excess cash, which remain at the end of the investment account of the borrower
possibility of early repayment of all or part of the loan from the personal account or investment account

Borrower details For at Bank Prestige or call Prestige Line 801 12 7000 or the landline number +48 22 598 41 33 (for calls from abroad or from a mobile phone).

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credit for the purchase of shares on the primary market in PKO SA

loan on the primary market

credit may be granted for the purchase of shares in the primary market for holders of investment accounts in the CDM, the Bank Pekao SA and CDM Pekao SA is the agent / sponsor issue or a participant in a consortium offering securities .

purchase of the shares must be made through Central Brokerage House of Pekao SA

Bank grants loan for a period of 6 miesięcy. Termin spłaty kredytu jest ustalany na ostatni dzień roboczy miesiąca, w którym upływa okres, na jaki został udzielony kredyt.

Wysokość kredytu:

stanowi wielokrotność 10 zł
minimalna - 10 000 zł
maksymalna – ustalana jest indywidualnie dla każdej edycji kredytu.
W celu otrzymania kredytu wnioskodawca:

składa w CDM dyspozycję zablokowania wkładu własnego na rachunku inwestycyjnym,
składa w jednostce Banku wniosek o udzielenie kredytu,
przedkłada w jednostce Banku do wglądu dowód osobisty lub kartę pobytu z wpisanym numerem PESEL oraz potwierdzenie dokonania POK CDM by blocking the investment account, specifying the value of their own contribution.
For each issue of shares, the purchase of which may be granted credit, Bank Pekao SA sets separately:

value of determining the maximum value of credit granted a credit line for own contribution limit factor
security interest
list of companies whose shares addition to the shares included in the WIG 20 index may contribute its own
rate interest loan, the commission
on the loan.
own contribution can be deposited into an investment account cash and / or securities: bonds, stocks of companies subject to the WIG-20 and shares of other companies mentioned in the communication of Bank Pekao SA as capable of providing security for a loan to buy shares in the primary market. Value of own contribution is calculated as the sum of the cash value of bonds and half of the shares.

The own contribution is calculated as the sum of:

banned in the investment account of the applicant:
100% cash
90% of the value of bonds
50% of the shares
100% of funds in the deposit of PLN,
80% of funds in the deposits in a currency other than PLN,
25% - 80% of the value of units in the case of funds, depending on the fund.
90% of the nominal value of treasury bills blocked.
details, contact phone numbers:
0 801 140 490 / / 0-22 / 591 1924 90th

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credit costs for the purchase of shares shall be deducted

Interest and fees on loan to purchase shares at the expense of are falling in proportion to that part of the loan , which has actually been disbursed the acquisition of shares.

provision on the tax deductibility of the cost of a loan contracted for the purchase of financial instruments to the investor's tax costs perceived by tax experts as one of the worst provisions in the PIT.
provision financially affect those investors who purchased shares in initial offerings, using the credit funds, but due to the high reduction of the entries received only part of the action. Their tax liability from the sale of shares so purchased will be higher now than before.

And if the reductions to the purchase records share only enough cash resources of the investor, the tax authorities may question the possibility of allocating the cost of these expenditures are proportionate.

According to Robert Morawski, a tax expert at CDM Pekao, if you adopt, in accordance with Article. Paragraph 23. 1 point 38b of the PIT Act (Journal of 2010 No 51, item. 307), the deductible costs may be a contrario include interest and commission paid on the loan (for which he was made to acquire shares) attributable to the proportion Part of the loan that was disbursed for the acquisition of securities, in this case the cost can not be include a penny of commission credit. The client used the 0 percent. credit. So it will interpret this provision of the tax authorities.
The construction of this provision, the legislature did not take into account that, without taking out a loan to the investor would not have happened at all to make a subscription for shares and will buy even smaller quantities of securities. Robert Morawski

notes, however, that the provision can also be explained otherwise. In his opinion, if the loan was used exclusively so. lewarowaniu (multiplication of resources and to record a greater number of shares), and the purchase orders as a result of reduction the client has used only its own resources, described in Article. Paragraph 23. 1 point 38b limit of the PIT law does not apply to such investor. This restriction of proportionality applies only to credit for the purchase, rather than serving lewarowaniu credit. Example


Reducing costs while incurring loan to purchase shares
With 200 thousand loan contracted. zł and commission a thousand. zł for the granting of a, an investor bought shares worth 15 thousand. zł entirely with credit. According to the literal wording of the law on personal income deductible costs include 75 zł (one thousand. Zł x (15 thousand. Zł / 200 thousand. zł).)

Source: Journal Legal Newspaper

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some good news for users of credit to share credit

Those who have benefited from loans to buy shares of companies of newly listed companies will be able to deduct the cost of the so-called siphon (commission and interest paid to the broker).

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for shares in the BZ WBK

Why Use loan to buy shares in BZ WBK ?

immediately receive the financial resources for the future sale of shares in PGNiG SA,
throughout the duration of the loan agreement remain the owner of shares,
can use the potential increase in share price,
cash from a loan you can spend for any purpose (such as consumer goods or invest in the stock market),
after its debut on the WSE, you can freely dispose of the rest - after repayment of the loan - the number of shares, you can repay the loan
also from its own resources, and freely dispose of all shares that you have.

What are the parameters of the loan?

lending period

Up until 31.12.2010, with the possibility of early repayment

Loan amount

- Minimum loan amount: a thousand. zł.
- Maximum loan amount: 150 thousand. zł, but no more than the product of shares of PGNiG SA and
price 1.60 zł. (Number of shares x 1.60 zł).
- The loan amount is reduced by the commission for setting up and interest from the date the loan until 30 June 2010
- From 1 July 2010, interest will accrue monthly on the last day of a calendar month.

fee for setting up the loan and interest

- The commission is 2% of the loan.
- The interest rate is 12% per annum.

APR (annual real interest rate)

Annual percentage rate (taking into account commission and interest) calculated in accordance with the Act on consumer credit for a loan of EUR 30 000 zł, at a nominal annual interest rate of 12% and the credit period 12 months is 15.58%

credit protection

- Shares are subject to the blockade for the duration of credit by transferring them from the account to the account of the basic secondary (credit) and the usual pledge till 30.06.2010, the
- Shares may not be traded on the Stock Exchange until the
06/30/2010 - During the term of the loan can not be share transfer or otherwise dispose of them.

Repayment

Repayment is by selling shares on the Stock Exchange as of 07.01.2010 was
Then you can:
- sale of shares in PGNiG SA in the amount necessary to repay the loan taken and the remaining number of shares you have available for your account,
- sale of all shares in PGNiG, which were mortgaged. On settlement of the sale of shares, any surplus funds (after repayment of the loan) will remain on your account at your disposal,
- repay the loan from its own resources, then all shares of PGNiG SA will remain in your account to Your disposal.

on the individual conditions can I expect?

opening and operation of the basic investment account without charges in 2010 in the coming years will be in force charged according to the Schedule of Fees and Charges Brokerage House BZ WBK SA,
opening and operation of the auxiliary account (credit) free of charge throughout the duration of the loan agreement ,
lock the employee share of PGNiG as security for a loan - no fee,
Other fees and charges applicable under the "Schedule of fees and commissions" Brokerage House BZ WBK

What to do to take advantage of credit?

Simply visit with a valid ID card from one of our branches offer a full range of services. The list of outlets is available at http://www.dmbzwbk.pl/


Where can I get more information?

The Contact Center by calling 0801 36 46 36 or 061 856 44 44 (calls cost consistent with the operator's tariff).


disclaimer and risk

BZ WBK Brokerage House SA announces that an integral part of any investment is a risk. The level of this risk is variable and depends on the type of financial instrument, which is the subject of investment. BZ WBK Brokerage House SA also notes that the price of financial instruments is influenced by many different factors that are or may be independent from issuers and their performance. More information about the risks can be found at www.dmbzwbk.pl in the "Disclaimer and risk." It must therefore be taken into account the risk that the fall in the price of shares in PGNiG, you may need to use its own resources to repay the loan.

Source: BZ WBK

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Loans for the purchase

buying shares new issue typically employed broker must pay tens of times more than would be the result of the final value of their transaction. The differences stem from the high - especially at companies making their debuts - the reductions in shares on the Warsaw Stock Exchange. The most common form of funding this first payment is overstated bank loan for the purchase of shares.

Ruling on the interpretation of tax law: Signature IX-005/132/Z/K/06:
"Due to the fact that you spent no credit for the acquisition of the shares, loan costs (commission and interest) can not a deductible expense. "

This credit actually only part of the fund's purchase of shares - with frequent reductions over dziewięćdziesięcioprocentowych used is usually less than 10 percent. auctioned by the bank funds.