[Federal Register Volume 59, Number 209 (Monday, October 31, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-26733]
[[Page Unknown]]
[Federal Register: October 31, 1994]
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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 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 14, 1994.
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 25, 1994 (59 FR
37651), and became effective August 8, 1994. 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 a rule 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 are additions to and deletions from the Board's
Foreign List, which was last published on July 25, 1994 (59 FR 37651),
and became effective August 8, 1994. 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
Automated Telephone Management Systems, Inc.
Series A, $1.00 par cumulative convertible preferred
Body Drama, Inc.
No par common
CAPX Corporation
Class A, warrants (expire 07-30-95)
CNL Financial Corporation
$1.00 par common
Codenoll Technology Corp.
$.01 par common
Commerce Bancorp, Inc. (New Jersey)
Series B, cumulative convertible preferred
Communication Intelligence Corp.
$.01 par common
Cybernetics Products, Inc.
$.01 par common
Destron Fearing Corporation
No par common
Falcon Oil & Gas Company, Inc.
$.01 par common
Franklin Bank, National Association (Michigan)
Series A, no par convertible preferred
Warrants (expire 09-15-94)
Golden Knight Resources, Inc.
No par common
Home Theater Products Inc.
Warrants (expire 09-30-94)
Image Business Systems Corp.
$.01 par common
Independence Bancorp, Inc. (New Jersey)
$1.667 par common
Integral Systems, Inc.
$.01 par common
International Airline Support Group, Inc.
$.001 par common
International Gaming Management, Inc.
$.001 par common
International Nesmont Industrial Corp.
No par common
IRG Technologies Inc.
$.01 par common
Laser Pacific Media Corporation
$.0001 par common
Licon International, Inc.
$.001 par common
Machine Technology, Inc.
No par common
Marquest Medical Products Inc.
No par common
Maxim Group, Inc., The
Warrants (expire 09-30-98)
Mechanical Technology, Inc.
$1.00 par common
Media Vision Technology, Inc.
$.001 par common
Megacards Inc.
$.01 par common
Megafoods Stores Inc.
$.001 par common
Micro Component Technology Inc.
$.01 par common
Microlog Corporation
$.01 par common
Microprobe Corporation
$.01 par common
Warrants (expire 09-28-98)
NALCAP Holdings Inc.
No par common
Nam Tai Electronics, Inc.
Redeemable common share purchase warrants
NEORX Corporation
$.02 par convertible exchangeable preferred
Odd's-N-End's, Inc.
$.01 par common
O S F, Inc.
No par common
Pace American Group
$.10 par common
Petrominerals Corporation
$.10 par common
Republic Bank (California)
No par common
Restor Industries, Inc.
$.01 par common
Warrants (expire 08-12-94)
Sports Heros, Inc.
$.001 par common
Warrants (expire 11-20-95)
Stocks Removed for Listing on a National Securities Exchange or
Being Involved in an Acquisition
Aldus Corporation
$.01 par common
American Residential Holdings Corporation
$.04 par common
ASK Group, Inc., The
No par common
Cardinal Health Inc.
No par common
Central Pennsylvania Financial
$1.00 par common
Cohasset Savings Bank
$.10 par common
Community Health Systems, Inc.
$.01 par common
Consolidated Papers, Inc.
$1.00 par common
Cresmont Financial Corporation
$1.00 par common
Cumberland Federal Bancorporation, Inc. (Kentucky)
$1.00 par common
Diasonics Ultrasound Inc.
$.01 par common
First Inter-Bancorp Inc. (New York)
$1.00 par common
Frankford Corporation, The
$1.00 par common
Gates/FA Distributing, Inc.
$.01 par common
Glendale Bancorporation (New Jersey)
$2.50 par common
Grasso Corporation
$.01 par common
H & H Oil Tool Co., Inc.
$.01 par common
Hallmark Healthcare Corporation
Class A, $.05 par common
International Container Systems, Inc.
$.01 par common
Kenfil Inc.
$.01 par common
Kinross Gold Corporation
No par common
L.S.B. Bancshares, Inc. of South Carolina
$2.50 par common
Liberty Media Corporation
Class A, $1.00 par common
Class B, $1.00 par common
Class E, $.01 par preferred
Liberty National Bancorp, Inc.
No par common
Lincoln Foodservice Products, Inc.
No par common
Loan America Financial Corp.
Class B, $.10 par common
McCaw Cellular Communications, Inc.
Class A, $.01 par common
Medquist, Inc.
No par common
Mid Atlantic Medical Services Inc.
$.01 par common
Momentum Corporation
$1.00 par common
Mr. Coffee, Inc.
$.01 par common
Nature Food Centers Inc.
$.001 par common
Newtrogena Corporation
$.001 par common
Newbridge Networks Corporation
No par common
Optical Radiation Corporation
$.50 par common
PDA Engineering
No par common
Pioneer Financial Corporation
$1.00 par common
Reliable Financial Corporation
$.01 par common
Sage Technologies Inc.
$.01 par common
SBC Technologies, Inc.
$.10 par common
Scripps Howard Broadcasting Co.
$.25 par common
Serving Software, Inc.
$.01 par common
Signal Technology Corporation
$.01 par common
Sphinx Pharmaceuticals Corp.
$.01 par common
Sports & Recreation, Inc.
$.01 par common
Sterling Bancshares Corporation
$.10 par common
Suburban Bancorp, Inc.
Class A, $1.00 par common
Sunward Technologies, Inc.
$.01 par common
Supermac Technology, Inc.
$.001 par common
TSI Corporation
$.02 par common
Warrants (expire 01-31-96)
Turf Paradise, Inc.
No par common
TVX Gold, Inc.
No par common
West Newton Savings Bank
$.10 par common
Wheatley TXT Corporation
$.01 par common
XYPLER Inc.
$.01 per common
Additions to the List of Marginable OTC Stocks
Aasche Transportation Services, Inc.
$.0001 par common
Adflex Solutions, Inc.
$.01 par common
Adtran, Inc.
$.01 par common
Affiliated Computer Services, Inc.
Class A, $.01 par common
AK Steel Holding Corporation
7% convertible preferred
Amerilink Corporation
No par common
Aquagenix Inc.
$.01 par common
Warrants (expire 09-13-99)
Aran Energy Plc
American Depositary Receipts
Ariad Pharmaceuticals, Inc.
Warrants (expire 05-20-99)
Astrum International Corporation
$.01 par common
Baby Superstore, Inc.
No par common
Bally's Grand, Inc.
$.01 par common
Warrants (expire 08-19-2000)
Bedford Bancshares, Inc. (Virginia)
$.01 par common
Bell Cablemedia Plc
American Depositary Receipts
Benson Financial Corporation
$.01 par common
Best Products Co., Inc.
$1.00 par common
Bio-Dental Technologies Corporation
$.01 par common
Biomune Systems, Inc.
$.0001 par common
Business Objects S.A.
American Depositary Shares
Caledonia Mining Corporation
No par common
Carnegie Bancorp (New Jersey)
No par common
Warrants (expire 08-09-97)
Carolina First Corporation
Series 1994, no par noncumulative convertible preferred
Cascade Communications Corporation
$.001 par common
Cedar Group, Inc.
$.001 par common
Central European Media Enterprises Ltd.
Class A, $.01 par common
Central Tractor Farm & Country Inc.
$.01 par common
Cerprobe Corporation
$.05 par common
Cherry Corporation, The
Class A, $1.00 par common
Cima Labs Inc.
$.01 par common
Citation Corporation
$.01 par common
Clearnet Communications Inc.
Class A, non-voting, no par common
Cohu, Inc.
$1.00 par common
Comcast UK Cable Partners Ltd.
$.01 par common
Comet Software International
Ordinary shares (NIS .01)
Concord Health Group, Inc.
$.001 par common
Warrants (expire 04-19-2000)
Continental Choice Care, Inc.
No par common
Units (expire 04-29-99)
Warrants (expire 07-20-99)
Corporate Express, Inc.
$.0002 par common
Cyclo3pss Medical Systems, Inc.
$.001 par common
Darling International Inc.
$.01 par common
Dorsey Trailers, Inc.
$.01 par common
Duramed Pharmaceuticals, Inc.
$.01 par common
Dwyer Group, Inc., The
$.10 par common
E & B Marine, Inc.
$.001 par common
Eagle Finance Corporation
$.01 par common
Eagle Financial Corporation
$.01 par common
Enterprise Federal Bancorp Inc. (Ohio)
$.01 par common
Envirodyne Industries, Inc.
$.01 par common
Erly Industries, Inc.
$1.00 par common
Ernst Home Center, Inc.
$.01 par common
Facelifters Home Systems, Inc.
$.01 par common
Family Bargain Corporation
Series A, $.01 par preferred
FCNB Corporation
$1.00 par common
Featherlite Manufacturing Inc.
No par common
Felcor Suite Hotels, Inc.
$.01 par common
FFVA Financial Corporation
$.10 par common
Fiberstars, Inc.
$.0001 par common
Financial Bancorp Inc. (New York)
$.01 par common
First Federal Bancshares of Eau Claire Inc.
$.01 par common
First Federal Savings Bank of Fort Dodge
$1.00 par common
First Merchants Acceptance Corporation
$.01 par common
First Victoria National Bank (Texas)
$5.00 par common
Flemington National Bank & Trust Company (New Jersey)
$2.50 par common
Florida Gaming Corporation
$.10 par common
Forum Group, Inc.
No par common
FSF Financial Corporation
$.10 par common
Full House Resorts, Inc.
$.0001 par common
Giant Cement Holding Inc.
$.01 par common
Global Market Information, Inc.
$.01 par common
Warrants (expire 08-10-97)
Grand Toys International, Inc.
$.001 par common
Greenstone Industries, Inc.
$.001 par common
Warrants (expire 07-20-99)
Happiness Express, Inc.
$.001 par common
Harbor Federal Bancorp, Inc. (Maryland)
$.01 par common
Harris Computer Systems Corporation
$1.00 par common
Heftel Broadcasting Corporation
Class A, $.001 par common
Home Federal Savings Bank (Washington, DC)
$.01 par common
Hubco, Inc.
Series A, $24.00 stated value preferred stock
IDM Environmental Corporation
$.001 par common
Class A, warrants (expire 04-21-99)
Incontrol, Inc.
$.01 par common
Innkeepers USA Trust
$.01 par common
Inphynet Medical Management Inc.
$.01 par common
IPC Information Systems, Inc.
$.01 par common
Jannock Limited
Common shares
Jefferson Bancorp, Inc. (Louisiana)
$.01 par common
Life Bancorp Inc.
$.01 par common
Loronix Information Systems, Inc.
$.001 par common
Macheezmo Mouse Restaurants, Inc.
No par common
Mahaska Investment Company
$5.00 par common
Marker International
$.01 par common
Matthews International Corporation
$1.00 par common
Mattson Technology Inc.
No par common
Maverick Tube Corporation
$.01 par common
Media Arts Group, Inc.
$.01 par common
Meridian Sports Inc.
$.01 par common
Metrobancorp (Indiana)
No par common
Metrologic Instruments, Inc.
$.01 par common
Micro Linear Corporation
$.001 par common
Miles Homes, Inc.
Warrants (expire 04-01-97)
Miller Industries, Inc.
$.01 par common
Milton Federal Financial Corporation
No par common
Ministor Peripherals International Ltd.
$.012454 par common
Redeemable warrants (expire 07-29-99)
Mississippi Chemical Corporation
$.01 par common
MLF Bancorp, Inc. (Pennsylvania)
$.01 par common
Movie Gallery, Inc.
$.001 par common
National Diagnostics Inc.
No par common
Warrants (expire 09-19-97)
Network Long Distance, Inc.
$.0001 par common
Newvision Technology, Inc.
$.01 par common
Warrants (expire 03-30-95)
Redeemable Warrants (expire 08-25-99)
Noble Drilling Corporation
$1.50 convertible preferred
Norrell Corporation
No par common
Norweb Plc
American Depositary Receipts
Numerex Corporation
$.0001 par common
Ottawa Financial Corporation
$.01 par common
P.T. Tri Polyta Indonesia
American Depositary Receipts
Pacific Basin Bulk Shipping Ltd.
Units (expire 09-30-99)
Pennfed Financial Services, Inc.
$.01 par common
PHC, Inc.
$.001 par common
Piercing Pagoda Inc.
$.01 par common
PMT Services, Inc.
$.01 par common
PRI Automation Inc.
$.01 par common
Prime Residential, Inc.
$.01 par common
Professional Sports Care Management Inc.
$.01 par common
Protection One, Inc.
$.01 par common
Regent Bancshares Corp. (Pennsylvania)
$.10 par common
Series A, $.10 par convertible preferred
Rent-Way, Inc.
No par common
RF Monolithics, Inc.
$.001 par common
Rock Bottom Restaurants, Inc.
$.01 par common
SBS Engineering Inc.
No par common
Sirena Apparel Group Inc., The
$.01 par common
South Pointe Enterprises, Inc.
$.0001 par common
Spectrian Corporation
No par common
Sportmart, Inc.
Class A, $.01 par common
Standard Financial, Inc.
$.01 par common
Strategic Distribution, Inc.
$.10 par common
Strouds Inc.
$.0001 par common
Suburbfed Financial Corporation
$.01 par common
Sugen Inc.
$.01 par common
Systemsoft Corporation
$.01 par common
Target Technologies Inc.
$.01 par common
Team Rental Group, Inc.
Class A, $.01 par common
Tessco Technologies Inc.
$.01 par common
TJ Systems Corporation
$.01 par common
Tower Automotive, Inc.
$.01 par common
Truck Components, Inc.
$.01 par common
U S Xpress Enterprises Inc.
Class A, $.01 par common
Village Bancorp, Inc. (Connecticut)
$3.33 par common
Wackenhut Corrections Corporations
$.01 par common
Wave Systems Corporation
Class A, $.01 par common
Wave Technologies International Inc.
$.50 par common
Welcome Home, Inc.
$.01 par common
Westbank Corporation
$2.00 par common
Western Ohio Financial Corporation
$.01 par common
Youth Services International, Inc.
$.01 par common
Additions to the list of Foreign Margin Stocks
Bank of Montreal
No par common
Bank of Nova Scotia, The
No par common
Canadian Imperial Bank of Commerce
No par common
National Bank of Canada
No par common
Royal Bank of Canada
No par common
Toronto Dominion Bank, The
No par common
Deletions to the List of Foreign Margin Stocks
Canadian Natural Resources Ltd.
No par common
OJI Paper Company Ltd.
50 par common
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, 1994.
William W. Wiles,
Secretary of the Board.
[FR Doc. 94-26733 Filed 10-28-94; 8:45 am]
BILLING CODE 6210-01-P
