Business and Personal Finance Dictionary

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• MARKETABLE, MARKETABILITY
  
  An attribute that may or may not be associated with a security. A security is considered to be marketable if it is readily salable to buyers in an active secondary market. As defined by the Office of the Comptroller of the Currency (OCC) (12 CFR 1), marketable means that the security: 1. Is registered under the Securities Act of 1933,15 USC 77a et seq.; 2. Is a municipal revenue bond exempt from registration under the Securities Act of 1933, 15 USC 77c(a)(2); 3. Is offered and sold pursuant to Securities and Exchange Commission Rule 144A,17 CFR 230.144, and rated investment grade or is the credit equivalent of investment grade; or 4. Can be sold with reasonable promptness at a price that corresponds reasonably to its fair value.
  
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