Looking at my account right now and the amount in the Overnight Initial Margin is 38.162% of Equity With Loan Value. I'm wondering how they come up with that. I thought perhaps some of the stocks I hold have no collateral value however the "Net Liquidation" and "Equity with Loan" numbers are the same. According to the IB help file Initial Margin is: "Initial margin requirement in the base currency of the account."