As reported by registered NASD firms, the margin debt on the NAZ is $26 billion as of July 2003, so says a report today on CNBC. This compares to $21 billion of margin debt on the NAZ back in March of 2003. Note: NYSE margin debt is nowhere near these levels. 243.50 billion in Jan. 2000 vs roughly 149.7 billion in Aug. 2003.