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Uniform Application to Register Securities.
This form must be retained by the lender for three years after the credit is extinguished.
The FR U-1 statement is for recordkeeping requirements that must be met before credit is extended. The lender must retain the records for three years after the credit is extinguished.
Regulation U (12 CFR 221) imposes restrictions on lenders that extend credit for the purpose of purchasing or carrying margin stock if the credit is secured by margin stock (directly or indirectly).