[Federal Register Volume 60, Number 209 (Monday, October 30, 1995)]
[Rules and Regulations]
[Pages 55183-55187]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-26865]
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FEDERAL RESERVE SYSTEM
12 CFR Parts 207, 220, 221 and 224
[Regulations G, T, U and X]
Securities Credit Transactions; List of Marginable OTC Stocks;
List of Foreign Margin Stocks
AGENCY: Board of Governors of the Federal Reserve System.
ACTION: Final rule; determination of applicability of regulations.
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SUMMARY: The List of Marginable OTC Stocks (OTC List) is composed of
stocks
[[Page 55184]]
traded over-the-counter (OTC) in the United States that have been
determined by the Board of Governors of the Federal Reserve System to
be subject to the margin requirements under certain Federal Reserve
regulations. The List of Foreign Margin Stocks (Foreign List) is
composed of foreign equity securities that have met the Board's
eligibility criteria under Regulation T. The OTC List and the Foreign
List are published four times a year by the Board. This document sets
forth additions to and deletions from the previous OTC List and Foreign
List.
EFFECTIVE DATE: November 13, 1995.
FOR FURTHER INFORMATION CONTACT: Peggy Wolffrum, Securities Regulation
Analyst, Division of Banking Supervision and Regulation, (202) 452-
2781, Board of Governors of the Federal Reserve System, Washington, DC
20551. For the hearing impaired only, contact Dorothea Thompson,
Telecommunications Device for the Deaf (TDD) at (202) 452-3544.
SUPPLEMENTARY INFORMATION: Listed below are additions to and deletions
from the OTC List, which was last published on July 31, 1995 (60 FR
38948), and became effective August 14, 1995. A copy of the complete
OTC List is available from the Federal Reserve Banks.
The OTC List includes those stocks that meet the criteria in
Regulations G, T and U (12 CFR Parts 207, 220 and 221, respectively).
This determination also affects the applicability of Regulation X (12
CFR Part 224). These stocks have the degree of national investor
interest, the depth and breadth of market, and the availability of
information respecting the stock and its issuer to warrant regulation
in the same fashion as exchange-traded securities. The OTC List also
includes any OTC stock designated for trading in the national market
system (NMS security) under rules approved by the Securities and
Exchange Commission (SEC). Additional OTC stocks may be designated as
NMS securities in the interim between the Board's quarterly
publications. They will become automatically marginable upon the
effective date of their NMS designation. The names of these stocks are
available at the SEC and at the National Association of Securities
Dealers, Inc. and will be incorporated into the Board's next quarterly
publication of the OTC List.
Also listed below is the one addition to and one deletion from the
Board's Foreign List, which was last published on July 31, 1995 (60 FR
38948), and which became effective August 14, 1995. The Foreign List
includes those foreign securities that meet the criteria in section
220.17 of Regulation T and are eligible for margin treatment at broker-
dealers on the same basis as domestic margin securities. A copy of the
complete Foreign List is available from the Federal Reserve Banks.
Public Comment and Deferred Effective Date
The requirements of 5 U.S.C. 553 with respect to notice and public
participation were not followed in connection with the issuance of this
amendment due to the objective character of the criteria for inclusion
and continued inclusion on the Lists specified in 12 CFR 207.6 (a) and
(b), 220.17 (a), (b), (c) and (d), and 221.7 (a) and (b). No additional
useful information would be gained by public participation. The full
requirements of 5 U.S.C. 553 with respect to deferred effective date
have not been followed in connection with the issuance of this
amendment because the Board finds that it is in the public interest to
facilitate investment and credit decisions based in whole or in part
upon the composition of these Lists as soon as possible. The Board has
responded to a request by the public and allowed approximately a two-
week delay before the Lists are effective.
List of Subjects
12 CFR Part 207
Banks, Banking, Credit, Margin, Margin requirements, National
Market System (NMS Security), Reporting and recordkeeping requirements,
Securities.
12 CFR Part 220
Banks, Banking, Brokers, Credit, Margin, Margin requirements,
Investments, National Market System (NMS Security), Reporting and
recordkeeping requirements, Securities.
12 CFR Part 221
Banks, Banking, Credit, Margin, Margin requirements, National
Market System (NMS Security), Reporting and recordkeeping requirements,
Securities.
12 CFR Part 224
Banks, Banking, Borrowers, Credit, Margin, Margin requirements,
Reporting and recordkeeping requirements, Securities.
Accordingly, pursuant to the authority of sections 7 and 23 of the
Securities Exchange Act of 1934, as amended (15 U.S.C. 78g and 78w),
and in accordance with 12 CFR 207.2(k) and 207.6 (Regulation G), 12 CFR
220.2(u) and 220.17 (Regulation T), and 12 CFR 221.2(j) and 221.7
(Regulation U), there is set forth below a listing of deletions from
and additions to the OTC List and the Foreign List.
Deletions From the List of Marginable OTC Stocks
Stocks Removed for Failing Continued Listing Requirements
3CI COMPLETE COMPLIANCE CORP.
$.01 par common
ACMAT CORPORATION
No par common
AMBER'S STORES, INC.
$.01 par common
ARISTOTLE CORPORATION, THE
$1.00 par common
ARYT INDUSTRIES LTD.
Ordinary Shares
ATLANTIC BEVERAGE COMPANY, INC.
$.01 par common
AURTEX, INC.
$.001 par common
B.U.M. INTERNATIONAL, INC.
$.02 par common
BASE TEN SYSTEMS, INC.
Class B, $1.00 par common
BIRD MEDICAL TECHNOLOGIES, INC.
$.01 par common
BOLLINGER INDUSTRIES, INC.
$.01 par common
CHAMPION PARTS, INC.
$.10 par common
CONSOLIDATED TECHNOLOGY GROUP
$.01 par common
ENVIROPUR WASTE REFINING & TECHNOLOGY, INC.
Class B, warrants (expire 12-31-95)
FORSTMANN & COMPANY, INC.
$.001 par common
FRETTER, INC.
$.01 par common
GREAT AMERICAN RECREATION, INC.
$.01 par common
HEALTHCARE IMAGING SERVICES, INC.
Warrants (expire 11-12-96)
HOME THEATER PRODUCTS INTERNATIONAL, INC.
No par common
INTERFERON SCIENCES, INC.
$.01 par common
INTERFILM, INC.
$.01 par common
INTERMETRICS, INC.
$.01 par common
INTERNATIONAL FAST FOOD CORP.
$.01 par common
LEASING EDGE CORPORATION
$.01 par common
LEP GROUP PLC
American Depositary Receipts
LIDA INC.
Class A, $.01 par common
N-VIRO INTERNATIONAL CORP.
$.01 par common
OSHAP TECHNOLOGIES LTD.
Rights
PATTERSON ENERGY INC.
Warrants (expire 11-02-95)
PDK LABS, INC.
Class B, warrants (expire 04-14-97)
PHYSICIANS CLINICAL LABORATORY
$.01 par common
REDWOOD TRUST, INC.
Warrants (expire 12-31-97)
SCI SYSTEMS, INC.
[[Page 55185]]
5\5/8\% convertible subordinated debentures
SDNB FINANCIAL CORPORATION
Rights
SHUFFLE MASTER, INC.
Warrants (expire 01-20-98)
SOFTKEY INTERNATIONAL, INC.
Warrants (expire 03-26-96)
SOMANETICS CORPORATION
$.01 par common
Class B, warrants
SPORTSTOWN, INC.
$.01 par common
STAODYN, INC.
$.01 par common
Series II, warrants (expire 11-01-99)
STRATOSPHERE CORPORATION
Warrants (expire 02-22-99)
TELIOS PHARMACEUTICALS, INC.
No par common
TIGER DIRECT, INC.
$.001 par common
USDATA CORPORATION
Rights
VIDEO UPDATE, INC.
Class A, warrants (expire 07-20-99)
WINNERS ENTERTAINMENTS, INC.
$.00001 par common
YES CLOTHING COMPANY
No par common
Stocks Removed for Listing on a National Securities Exchange or Being
Involved in an Acquisition
ACS ENTERPRISES, INC.
$.05 par common
ADVANCE CIRCUITS, INC.
$.10 par common
ALAMO GROUP, INC.
$.10 par common
ALTAI, INC.
No par common
AMERICAN MEDICAL ELECTRONICS
No par common
AMERICAN MOBILE SYSTEMS, INC.
$.01 par common
AUTOFINANCE GROUP, INC.
No par common
AUTOMOTIVE INDUSTRIES HOLDING
Class A, $.01 par common
BINDLEY WESTERN INDUSTRIES, INC.
$.50 par common
BRUNO'S, INC.
$.01 par common
CABOT MEDICAL CORPORATION
No par common
CLINICOM INCORPORATED
$.001 par common
COMMERCIAL FEDERAL CORPORATION
$.01 par common
COOPER CAMERON CORPORATION
$.01 par common
DESIGNATRONICS INCORPORATED
$.04 par common
E-Z-EM, INC.
$.10 par common
Class B, $.10 par common
EASTEX ENERGY, INC.
$.01 par common
FALLS FINANCIAL, INC.
$.01 par common
FUTURE NOW, INC., THE
No par common
GATEWAY BANCORP, INC.
$.50 par common
GENETIC THERAPY, INC.
$.01 par common
IG LABORATORIES, INC.
$.01 par common
INSIGNIA FINANCIAL GROUP, INC.
Class A, $.01 par common
INTEGRACARE INC.
$.001 par common
LAZER-TRON CORPORATION
No par common
LIN BROADCASTING CORPORATION
$.01 par common
MARSAM PHARMACEUTICALS, INC.
$.01 par common
MEDICAL DIAGNOSTICS, INC.
$.01 par common
MEDRAD, INC.
$.10 par common
MILWAUKEE INSURANCE GROUP, INC.
$.01 par common
MULTICARE COMPANIES, INC.
$.01 par common
NATIONAL AUTO CREDIT, INC.
$.05 par common
NATIONAL GYPSUM COMPANY
$.01 par common
Warrants (expire 07-01-2000)
NATIONWIDE CELLULAR SERVICE, INC.
$.01 par common
ONECOMM CORPORATION
$.001 par common
PACIFIC TELECOM, INC.
No par common
PREFERRED ENTERTAINMENT, INC.
$.01 par common
PSB HOLDINGS CORPORATION
$.01 par common
PULSE ENGINEERING, INC.
Class A, $.01 par common
PURITAN-BENNETT CORPORATION
$1.00 par common
PUTNAM TRUST COMPANY OF GREENWICH
No par common
RANDOM ACCESS, INC.
$.001 par common
SABER SOFTWARE CORPORATION
$.01 par common
SUPER RITE CORPORATION
No par common
TRINZIC CORPORATION
$.01 par common
TRUCK COMPONENTS, INC.
$.01 par common
U.S. TRUST CORPORATION
$.001 par common
UNITED FINANCIAL CORPORATION OF SOUTH CAROLINA
$1.00 par common
USA MOBILE COMMUNICATIONS HOLDINGS, INC.
$.01 par common
VERIFONE, INC.
$.01 par common
VIAGENE, INC.
$.001 par common
Additions to the List of Marginable OTC Stocks
ACCOM, INC.
$.001 par common
ACROSS DATA SYSTEMS, INC.
$.01 par common
ADAPTIVE SOLUTIONS, INC.
No par common
ADE CORPORATION
$.01 par common
ADVANCED NMR SYSTEMS, INC.
Warrants (expire 08-30-2000)
ADVANTA CORP.
Depositary Shares
AHI HEALTHCARE SYSTEMS, INC.
$.01 par common
AIRWAYS CORPORATION
$.01 par common
ALIGN-RITE INTERNATIONAL, INC.
$.01 par common
ALLIED CAPITAL ADVISERS, INC.
$.001 par common
AMBASSADORS INTERNATIONAL, INC.
$.01 par common
AMERICAN COIN MERCHANDISING, INC.
$.01 par common
AMTECH SYSTEMS, INC.
$.01 par common
AMTRUST CAPITAL CORPORATION
$.01 par common
ANGEION CORPORATION
$.01 par common
Warrants (03-12-96)
ANICOM, INC.
$.001 par common
APAC TELESERVICES, INC.
$.01 par common
ARIELY ADVERTISING, LIMITED
Ordinary Shares
ARV ASSISTED LIVING, INC.
No par common
ASTEA INTERNATIONAL, INC.
$.01 par common
ATC ENVIRONMENTAL INC.
Class C, warrants (expire 09-30-96)
ATLAS AIR, INC.
$.01 par common
BANK OF COMMERCE (California)
No par common
BOYDS WHEELS, INC.
No par common
CAPITAL BANCORP (Florida)
$1.00 par common
CARBIDE/GRAPHITE GROUP, INC., THE
$.01 par common
CHALLENGER INTERNATIONAL LIMITED
Ordinary Shares
CHECKFREE CORPORATION
$.01 par common
COMMUNITY BANK SHARES OF INDIANA, INC.
$.10 par common
COMMUNITY CARE OF AMERICA, INC.
$.01 par common
COMMUNITY INVESTORS BANCORP, INC.
$.01 par common
COMMUNITY MEDICAL TRANSPORT, INC.
$.001 par common
Warrants (expire 10-03-99)
COMPUTATIONAL SYSTEMS, INC.
No par common
COMPUTER MANAGEMENT SCIENCES, INC.
$.01 par common
COMPUTRON SOFTWARE, INC.
$.01 par common
CORE LABORATORIES, N.V.
Ordinary shares (NIS .03)
CROWN VANTAGE, INC.
No par common
CUTTER & BUCK, INC.
No par common
CYBEX CORPORATION
$.001 par common
DAMEN FINANCIAL CORPORATION
$.01 par common
DATA DOCUMENTS INCORPORATED
$.01 par common
DEPOTECH CORPORATION
[[Page 55186]]
No par common
DESERT COMMUNITY BANK (California)
No par common
DESKTOP DATA, INC.
$.01 par common
DESTRON FEARING CORPORATION
$.01 par common
DLB OIL & GAS, INC.
$.01 par common
EASTBAY, INC.
$.01 par common
ELANTEC SEMICONDUCTOR, INC.
$.01 par common
ENERGY CONVERSION DEVICES, INC.
$.01 par common
EQUITABLE FEDERAL SAVINGS BANK (Maryland)
$.01 par common
ERIE INDEMNITY COMPANY
$.087 par common
ESS TECHNOLOGY, INC.
No par common
EUPHONIX, INC.
$.001 par common
FALCON DRILLING COMPANY, INC.
$.01 par common
FIRST DYNASTY MINES LIMITED
No par common
FIRST INVESTORS FINANCIAL SERVICES GROUP, INC.
$.001 par common
FORCENERGY GAS EXPLORATION, INC.
$.01 par common
FP BANCORP, INC.
No par common
FRANKLIN BANCORPORATION, INC.
$.10 par common
GADZOOKS, INC.
$.01 par common
GEMSTAR INTERNATIONAL GROUP, LTD.
Ordinary Shares
GENERAL SCANNING, INC.
$.01 par common
GRAND UNION COMPANY, THE
$1.00 par common
GREATER DELAWARE VALLEY SAVINGS BANK
$.01 par common
GSE SYSTEMS, INC.
$.01 par common
GT BICYCLES, INC.
$.001 par common
HARBINGER CORPORATION
$.0001 par common
HARRODSBURG FIRST FINANCIAL BANCORP, INC.
$.10 par common
HDS NETWORK SYSTEMS, INC.
$.001 par common
Warrants (expire 03-25-2000)
HOLMES PROTECTION GROUP, INC.
$.01 par common
HPR, INC.
$.01 par common
IATROS HEALTH NETWORK, INC.
$.001 par common
INDENET, INC.
Class B, warrants (expire 08-31-98)
INDIANA COMMUNITY BANK, SB
No par common
INDUSTRIAL BANCORP, INC.
No par common
INFOSAFE SYSTEMS, INC.
Class A, $.01 par common
INLAND CASINO CORPORATION
$.01 par common
INSTANT PUBLISHER, INC., THE
No par common
INTEGRA LIFESCIENCES CORPORATION
$.01 par common
INTEGRATED MEASUREMENT SYSTEMS, INC.
$.01 par common
INTEK DIVERSIFIED CORPORATION
$.01 par common
INTERLINK ELECTRONICS
Warrants (expire 06-07-96)
INTERNATIONAL METALS ACQUISITION CORPORATION
$.001 par common
Warrants (expire 08-13-2000)
JAYHAWK ACCEPTANCE CORPORATION
$.01 par common
KASH N KARRY FOOD STORES, INC.
$.01 par common
KLAMATH FIRST BANCORP, INC.
$1.00 par common
KTI, INC.
No par common
L.L. KNICKERBOCKER COMPANY
No par common
Warrants (expire 01-24-97)
LIHIR GOLD LIMITED
American Depositary Shares
LIVENT, INC.
No par common
LM ERICSSON TELEPHONE COMPANY
Rights
LOGAN'S ROADHOUSE, INC.
$.01 par common
LOGIC WORKS, INC.
$.01 par common
MACKIE DESIGNS, INC.
No par common
MAIL-WELL, INC.
$.01 par common
MEADOW VALLEY CORPORATION
$.001 par common
Warrants (expire 10-17-2000)
MECKLERMEDIA CORPORATION
$.01 par common
MICROTEL FRANCHISE AND DEVELOPMENT CORPORATION
$.001 par common
MICROWAVE POWER DEVICES, INC.
$.01 par common
MINIMED, INC.
$.01 par common
MIZAR, INC.
$.01 par common
MOOVIES, INC.
$.001 par common
MS FINANCIAL, INC.
$.001 par common
MSB FINANCIAL, INC.
$.01 par common
MYRIAD GENETICS, INC.
$.01 par common
NATIONAL ENERGY GROUP, INC.
Class A, $.01 par common
NEORX CORPORATION
Warrants (expire 04-25-98)
NETSCAPE COMMUNICATIONS CORPORATION
$.0001 par common
NETSTAR, INC.
$.01 par common
NEW USTC HOLDINGS CORPORATION
$1.00 par common
NEWSCOPE RESOURCES, LIMITED
No par common
NHP INCORPORATED
$.01 par common
NORLAND MEDICAL SYSTEMS, INC.
$.0005 par common
NORTECH SYSTEMS, INCORPORATED
$.01 par common
NUR ADVANCED TECHNOLOGIES, LIMITED
Ordinary Shares
OAK HILL FINANCIAL, INC.
No par common
ON TECHNOLOGY CORPORATION
$.01 par common
ORION NETWORK SYSTEMS, INC.
$.01 par common
OWEN HEALTHCARE, INC.
No par common
PALM HARBOR HOMES, INC.
$.01 par common
PANAMSAT CORPORATION
$.01 par common
PDT, INC.
$.01 par common
PEDIATRIX MEDICAL GROUP, INC.
$.01 par common
PERCON ACQUISITION, INC.
No par common
PERPETUAL STATE BANK (North Carolina)
$5.00 par common
PERRY COUNTY FINANCIAL CORPORATION
$.01 par common
PET PRACTICE, INC., THE
$.01 par common
PLASMA & MATERIALS TECHNOLOGIES, INC.
No par common
POCAHONTAS FEDERAL SAVINGS AND LOAN ASSOCIATION (Arkansas)
$.10 par common
PRECISION SYSTEMS, INC.
$.01 par common
PREMENOS TECHNOLOGY CORPORATION
$.01 par common
PRESTIGE FINANCIAL CORPORATION
$.01 par common
PRO-FAC COOPERATIVE, INC.
Class A, $1.00 par cumulative preferred
PURE SOFTWARE, INC.
$.0001 par common
QUESTECH, INC.
$.05 par common
RAMTRON INTERNATIONAL CORPORATION
Series C, $.01 par convertible preferred
REDHOOK ALE BREWERY, INC.
$.005 par common
REDWOOD TRUST, INC.
$.01 par common
RENAISSANCE ENTERTAINMENT CORPORATION
$.03 par common
Class A, warrants (expire 01-27-2000)
Class B, warrants (expire 01-27-2000)
RENAISSANCERE HOLDINGS, LTD.
$1.00 par common
RISK CAPITAL HOLDINGS, INC.
$.01 par common
ROMAC INTERNATIONAL, INC.
$.01 par common
ROSE'S STORES, INC.
Warrants (expire 04-28-2002)
SCP POOL CORPORATION
$.001 par common
SENECA FOODS CORPORATION
Class B, $.25 par common
SEQUANA THERAPEUTICS, INC.
$.001 par common
SIMWARE, INC.
[[Page 55187]]
No par common
SMARTFLEX SYSTEMS, INC.
$.0025 par common
SMITH MICRO SOFTWARE, INC.
$.001 par common
SONUS PHARMACEUTICALS, INC.
$.001 par common
SOUTHWEST BANCORP, INC. (Oklahoma)
Series A, redeemable, cumulative preferred
SPEEDFAM INTERNATIONAL, INC.
No par common
STATEWIDE FINANCIAL CORPORATION
No par common
STERLING HEALTHCARE GROUP, INC.
$.0001 par common
STEVEN MADDEN, LTD.
$.001 par common
SUMMIT MEDICAL SYSTEMS, INC.
$.01 par common
SUNSTONE HOTEL INVESTORS, INC.
$.01 par common
TAPPAN ZEE FINANCIAL, INC.
$.01 par common
TARRANT APPAREL GROUP
$.01 par common
TECHNICAL CHEMICALS AND PRODUCTS, INC.
$.001 par common
TEL-SAVE HOLDINGS, INC.
$.01 par common
TELCOM SEMICONDUCTOR, INC.
$.001 par common
TELE-COMMUNICATIONS, INC.
Series B, Liberty Media Group ($1.00 par common)
TESMA INTERNATIONAL, INC.
Class A, no par subordinate voting shares
TOUCHSTONE SOFTWARE CORPORATION
$.001 par common
TRANSCOR WASTE SERVICES, INC.
$.001 par common
TRANSPORT HOLDINGS, INC.
Class A, $.01 par common
TRENTON SAVINGS BANK, FSB
$.01 par common
TRIDEX CORPORATION
No par common
TST/IMPRESO, INC.
$.01 par common
U.S. BRIDGE OF NEW YORK, INC.
$.001 par common
Warrants (expire 06-22-2000)
U.S. DIAGNOSTIC LABS, INC.
Class A, $.01 par common
Class A, warrants (expire 10-14-99)
Class B, warrants (expire 10-14-99)
UNICOMP, INC.
$.01 par common
UNION ACCEPTANCE CORPORATION
No par common
UNISON SOFTWARE, INC.
$.001 par common
UNITED DENTAL CARE, INC.
$.10 par common
UNIVERSAL STAINLESS & ALLOY PRODUCTS, INC.
$.001 par common
USA DETERGENTS, INC.
$.01 par common
VANTIVE CORPORATION, THE
$.001 par common
VERITY, INC.
$.001 par common
VODAVI TECHNOLOGY, INC.
$.001 par common
WALNUT FINANCIAL SERVICES, INC.
$.01 par common
WALTER INDUSTRIES, INC.
$.01 par common
WFS FINANCIAL, INC.
No par common
WORLD AIRWAYS, INC.
$.01 par common
XETA CORPORATION
$.10 par common
ZYCON CORPORATION
$.001 par common
Deletion From the List of Foreign Margin Stocks
ROTHMANS INTERNATIONAL PLC
Class B, ordinary shares par value 6.25 p
Addition to the List of Foreign Margin Stocks
EASTERN GROUP PLC
Ordinary Shares, par value 50 p
By order of the Board of Governors of the Federal Reserve
System, acting by its Director of the Division of Banking
Supervision and Regulation pursuant to delegated authority (12 CFR
265.7(f)(10)), October 24, 1995.
William W. Wiles,
Secretary of the Board.
[FR Doc. 95-26865 Filed 10-27-95; 8:45 am]
BILLING CODE 6210-01-P
