In the A-share market, the leverage ratio of stock margin financing and securities lending is the highest limit granted to investors by securities according to their credit status, collateral value, market conditions and their own financial arrangements. The proportion of securities credit granted by each broker will be different. The leverage ratio of margin financing and securities lending = the total capital invested by investors divided by the total capital actually absorbed by investors multiplied by 100%. Among them, the total capital of investors' basic investment is the value of collateral.

Generally speaking, collateral includes funds, stocks, bonds and funds in accounts. When an investor takes cash as a mortgage deposit, it can be fully included in the deposit amount. Where securities are used as collateral, the market value or net value of securities shall meet the requirements: the maximum conversion rate of national debt shall not exceed 95%; The maximum conversion rate of open index funds shall not exceed 90%; The conversion rate of other listed securities investment funds and bonds shall not exceed 80%; The highest conversion rates of Shenzhen 100 index stocks and Shanghai 180 index stocks are not more than 70%, and the highest conversion rates of other stocks are not more than 65%, while the conversion rate of st stocks is 0%.

Under normal circumstances, securities will adjust the credit limit of investors in time according to the changes in investors' assets; Investors can also apply for increasing or decreasing the credit line according to their own needs.