Common use of Interest Statements Clause in Contracts

Interest Statements. Within your regular monthly statement, an interest charge will show for the interest period. Your monthly statement will show each transaction on the date of trade; however, interest as shown on the interest statement is calculated on a settlement date basis. In order to check the calculation of interest charged to your Account, it may be necessary to refer to both your prior and current months' statements. The monthly interest statement will show: (1) the current selected rate used in the calculation and any changes in such rate during the interest period; (2) the daily net balance of all transactions; (3) any free credit balance in your cash account (which reduces the daily net debit balance); (4) any mark-to- the market as a result of a short position; (5) the number of days your Account had a debit balance; (6) the daily adjusted debit balance on which interest is charged; (7) the amount of interest; and (8) the total interest charge for the period.

Interest Statements. Within your regular monthly statement, an interest charge will show for the interest period. Your monthly statement will show each transaction on the date of trade; however, interest as shown on the interest statement is calculated on a settlement date basis. In order to check the calculation of interest charged to your Account, it may be necessary to refer to both your prior and current months' statements. The monthly interest statement will show: (1) the current selected rate used in the calculation and any changes in such rate during the interest period; (2) the daily net balance of all transactions; (3) any free credit balance in your cash account (which reduces the daily net debit balance); (4) any mark-to- the market as a result of a short position; (5) the number of days your Account had a debit balance; (6) the daily adjusted debit balance on which interest is charged; (7) the amount of interest; and (8) the total interest charge for the period.;