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F ederal R eserv e Bank
OF DALLAS
ROBERT

D. M c T E E R , J R .

PRESIDENT

May 17, 1991

DALLAS, TEXAS 7 5 2 2 2

AND CHIEF EXECUTIV E O F F IC E R

Notice 91-37
TO:

The C hie f Exe cutive O f f i c e r o f each
member bank and o t h e r s concerned in
th e Eleventh Federal Reserve D i s t r i c t

SUBJECT
Over-the-Counter (OTC) Margin Stocks
DETAILS
The Board o f Governors o f t h e Federal Reserve System has r e v i s e d t he
l i s t o f o v e r - t h e - c o u n t e r (OTC) s t ocks t h a t are s u b j e c t t o i t s margin r e g u l a ­
t i o n s , e f f e c t i v e May 13, 1991. The Board p u b l i s h e s a complete l i s t fo u r times
a y e a r , and th e Federal R e g i s t e r announces a d d i t i o n s t o and d e l e t i o n s from t h e

1i s t .
The complete l i s t o f OTC s t o c k s as o f May 13, 1991, i s a v a i l a b l e
from th e Public A f f a i r s Department o f t h i s Bank upon r e q u e s t .
Included with
t he l i s t i s a l i s t i n g o f fo r e ig n margin s t o c k s . The fo r e i g n margin s t o ck s
l i s t e d ar e fo r e i g n e q u i t y s e c u r i t i e s e l i g i b l e f o r margin t r e a t m e n t a t b rok e r dealers.

ATTACHMENT
Attached i s a copy o f t h e Federal R e g i s t e r announcement o f r e v i s i o n s
to t h e l i s t o f OTC st o ck s as shown on pages 19547-49, Vol. 56, No. 82, d at e d
April 29, 1991. Also included are d e l e t i o n s from t h e l i s t i n g o f fo r e i g n
margin s t o c k s .

MORE INFORMATION
For more information re g a rd i n g marginable OTC s t o ck re q u i re m e n t s ,
p le a s e c o n t a c t Dean A. Pankonien a t (214) 651-6228. For co p i es o f t h e
complete l i s t or a d d i t i o n a l c opi es o f t h i s n o t i c e , p l e a s e c o n t a c t t h e Publi c
A f f a i r s Department a t (214) 651-6289.
Sincerely yours,

This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)
For additional copies, bankers and others are encouraged to use one of the following toll-free numbers in contacting the Federal Reserve Bank of Dallas:
Dallas Office (800) 333-4460; El Paso Branch Intrastate (800) 592-1631, Interstate (800) 351-1012; Houston Branch Intrastate (800) 392-4162,
Interstate (800) 221-0363; San Antonio Branch Intrastate (800) 292-5810.

Federal Register / Vol. 56, No. 82 / Monday, April 29, 1991 / Rules and Regulations_____ 19547
subject to the margin requirements
under certain Federal Reserve
regulations. The List of Foreign Margin
Stocks (Foreign List) represents 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 or deletions from the
previous OTC List and deletions from
the previous Foreign List. Both Lists
were published on January 31,1991 (56
FR 3773) and effective on February 11,
1991.
EFFECTIVE DATE: May 13,1991.
FOR FURTHER INFORMATION CONTACT:

FEDERAL RESERVE SYSTEM
12 CFR Parts 207,220, 221 and 224
Regulation* G, T, U and X; Securities
Credit Transactions; List of M a rg in a l
OTC Stocks; List of Foreign Margin
Stocks
Board of Governors of the
Federal Reserve System.
a c t i o n : Finar rule; determination of
applicability of regulations.
agency:

The List of Marginable OTC
Stocks (OTC List) is comprised 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
su m m a ry :

Peggy Wolffrum, Securities Regulation
Analyst, Division of Banking
Supervision and Regulation, (202) 4522781, 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 or deletions from
the OTC List. This supersedes the last
OTC List which was effective February
11,1991. Additions and deletions to the
OTC List were last published on January
31,1991 (56 FR 3773). 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 w arrant
regulation in the same fashion as
exchange-traded securities. The OTC
List also includes any OTC stock
designated under a Securities and
Exchange Commission (SEC) rule as
qualified for trading in the national
market system (NMS security).
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 MNS designation.
The names of these stocks are available
at the Board and the SEC and will be
incorporated into the Board's next
quarterly publication of the OTC List.
Also listed below is the one deletion
from the Foreign List. There are no new
additions to the Foreign L ist which was
last published January 31,1991 (56 FR
3773) and effective February 11,1991.
Stocks on the Foreign List are eligible

for margin treatment at broker-dealers
pursuant to a 1990 amendment to
Regulation T (12 CFR part 220). The
Foreign List includes those stocks that
meet the criteria in Regulation T and are
eligible for margin 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 upor.
the composition of these Lists as soon as
possible. The Board has responded to a
request by the public and allowed a
two-week delay before the Lists are
effective.
List of Subjects
12 CFR P a rt 207

Banks, Banking, Credit, Federal
Reserve System, Margin, Margin
requirements, National Market System
(NMS Security), Reporting and
recordkeeping requirements, Securities.
12 CFR P a rt 220

Banks, Banking, Brokers, Credit,
Federal Reserve System, Margin, Margin
requirements, Investments, National
Market System (NMS Security),
Reporting and recordkeeping
requirements, Securities.
12 CFR P a rt 221

Banks, Banking, Credit, Federal
Reserve System, Margin, Margin
requirements. National Market System
(NMS Security), Reporting and
recordkeeping requirements, Securities.
12 CFR P a rt 224

Banks, Banking, Borrowers, Credit,
Federal Reserve System, Margin, Margin
requirements, Reporting and
recordkeeping requirements, Securities.

19548

Federal -Register / Vol. 56, No. 82 / Monday, April 29, 1991

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(c)
(Regulation G), 12 CFR 220.2(u) and
220.17(e) (Regulation T), and 12 CFR
221.2(j) and 221.7(c) (Regulation U),
there is set forth below a listing of
deletions from and additions to the OTC
List, and the one deletion from the
Foreign List.

Deletions From the List of Marginable
OTC Stocks

Stocks Removed For Failing Continued
Listing Requirements
Amerifirst Bank, A Federal Savings
Bank (Florida)
$.01 par common
Asarco Incorporated
W arrants (expire 08-15-91)
Bankunited, A Savings Bank
Class A, $.01 par common
Barton Industries Inc.
$.01 par common
Bell Savings Holdings, Inc.
$1.00 par common
Cellcom Corp.
$.001 par common
Circadian, Inc.
$.01 par common
Computer Automation, Inc.
$.10 par common
Continental Savings of America
(California)
$1.11 par common
Convex Computer Corporation
6% convertible subordinated
debentures
County Bank, F.S.B.
$1.00 par common
Dartmouth Bancorp, Inc.
$1.00 par common
Distributed Logic Corporation
$.01 par common
Eastmaque Gold Mines Ltd.
No par common
Evansville Federal Savings Bank
(Indiana)
$1.00 par common
Financial Benefit Group, Inc.
Class, A, $.01 par common
Financial Center Bancorp
No par common
Fingermatrix, Inc.
$.02 par common
First Executive Corporation
$2.00 par common
Series E, $1.00 par depositary
preferred
Series F, $1.00 par depositary
preferred
Series G, $1.00 par cumulative
convertible preferred
Depositary Preference Shares
First Federal Savings Bank of Georgia
$1.00 par common

First Federal Savings Bapk of Perry
$1.00 par common
First W oburn Bancorp, Inc.
$.10 par common
Flextronics, Inc.
$.01 par common
Granite Co-Operative Bank
(Massachusetts)
$.10 par common
Imatron Inc.
W arrants (expire 11-12-01)
Infotechnology, Inc.
$.01 par common
International Capital Equipment Limited
$.05 par common
International Mobile Machines
Corporation
$.10 cumulative convertible preferred
International Remote Imaging Systems,
Inc.
No par common
Kasler Corporation
Convertible subordinated debentures
(due 2007)
Kustom Electronics
$.10 par common
Lexicon Corporation
$.10 par common
Management Technologies, Inc.
$.01 par common
Mediagenic
No par common
M erchants Bancorp, Inc., The
$1.25 par common
Metro Airlines, Inc.
$.10 pair common
Metrobank Financial Group, Inc.
$.10 pa r common
New England Bancorp, Inc.
$.25 p8ir common
Olympic Savings Bank (Washington)
$1.00 par common
Oxidyne Group, Inc., The
$1.00 par common
Phoenix Medical Technology, Inc.
No par common
Picturetel Corporation
W arrants (expire 03-26-92)
Poseidon Pools of America, Inc.
$.01 par common
Qintex Entertainment, Inc.
$.001 par common
Satellite Information Systems Company
No par common
SBT Corp.
No par common
Schwartz Brothers, Inc.
Class A, $.10 par common
Sea Galley Stores, Inc.
$.05 par common
Silk Greenhouse, Inc.
$.01 par common
Sirco International Corp.
$.10 par common
Southland Corporation, The
15% cumulative exchangeable
preferred stock
Southmark Corporation
Class A, $.01 par convertible preferred

,

Rules and Regulations

Syntrex Incorporated
$.10 par common
Trustbank Savings, F.SJB.
$.01 par common
Tudor Corporation Ltd.
No par common
Vista Organization, Ltd., The
$.001 par common
Xyvision, Inc.
$.03 par common
Y&A Group, Inc.
$.0025 par common

Stocks Removed For Listing On A
National Securities Exchange Or Being
Involved In An Acquisition
Academy Insurance Group, Inc.
$.10 par common
Atico Financial Corporation
$1.00 par common
Attwoods PLC
American Depositary Receipts
Buckeye Financial Corp
No par common
Care Plus, Inc.
$.01 par common
Comerica Incorporated
$5.00 par common
Series B, $4.32 par cumulative
convertible preferred
Commercial Intertech Corp.
$1.00 par common
Continental Homes Holding Corp.
$.01 par common
E.R.C. Environmental & Energy Services
Co., Inc.
$.05 par common
Geodyne Resources, Inc.
$.10 par common
Heartfed Financial Corporation
$.01 par common
Home Savings & Loan Association, Inc.
(North Carolina)
$1.00 par common
Illinois Central Corporation
$.001 par common
Index Technology Corporation
$.10 par common
Interim Systems Corporation
$.01 par common
International Game Technology
$.01 par common
Liz Claiborne, Inc.
$1.00 par common
Lodgistix, Inc.
No par common
Mallard Coach Company, Inc.
$.01 par common
M artech USA, Inc.
$.01 par common
Mid-American W aste Systems, Inc.
$1.00 par common
Office Club, Inc.
No par common
Plaza Commerce Bancorp
No par common
Scripps, E.W. Company, The
Class A, $.01 par commoh

Federal Register / Vol. 56, No. 82 / Monday, April 29, 1991 / Rules and Regulations_____ 19549
Terex Corporation
$.01 par common
Trimas Corporation
$.01 par common
TVX Broadcast Group, Inc.
$.01 par common
Visx, Incorporated
$.01 par common
W estern W aste Industries
No par common
Wholesale Club, Inc., The
$1.00 par common
Wyoming National Bancorporation
$1.00 par common
Yankee Energy System, Inc.
$5.00 par common
Additions to the List of Marginable OTC
Stocks
Ahold Limited
American Depositary Receipts
Alta Health Strategies, Inc.
$.01 par common
Angeion Corporation
$.01 par common
Atmel Corporation
No par common
Banc One Corporation
Series C, no par cumulative
convertible preferred
Bobbie Brooks, Incorporated
$.001 par common
Carenetwork, Inc.
$.01 par common
Celtrix Laboratories, Inc.
$.01 par common
Citation Insurance Group
$.10 par common
Clinical Homecare Ltd.
$.03 par common
College Bound, Inc.
$.001 par common
Community Health Systems, Inc.
$.01 par common
Compania Boliviana De Energia
No par common
Coventry Corporation
$.01 par common
Cygnus Therapeutic Systems
No par common
DVI Financial Corporation
W arrants (expire 02-06-06)
Fedfirst Bancshares, Inc.
$.01 par common
First Commerce Bancshares, Inc.
$1.00 par common
Franklin Savings Bank, FSB (Michigan)
W arrants (expire 09-15-94)
Genzyme Corporation
W arrants (expire 12-31-94)
Grand Valley Gas Company
$.0125 par common
Health Management Associates, Inc.
Class A, $.01 par common
Homecorp, Inc.
$.01 par common
IAF Biochem International Inc.
No par common
Image Entertainment, Inc.

No par common
Input/Output, Inc.
$.01 par common
Intercontinental Bank
$2.00 par common
LXE, Inc.
$.01 par common
Magna Bancorp Inc.
$.01 par common
Medical Marketing Group, Inc.
$.01 par common
Merit Medical Systems, Inc.
No par common
PAC RIM Holding Corporation
$.01 par common
Penril Datacomm Networks, Inc.
$.01 par common
Pubco Corporation
$.01 par common
Quidel Corporation
$.001 par common
R&B, Inc.
$.01 par common
Regeneron Pharmaceuticals, Inc.
$.001 par common
SBE, Inc.
No par common
Simtek Corporation
$.01 par common
W arrants (expire 03-06-96)
Sonic Corporation
$.01 par common
Symix Systems, Inc.
$.01 par common
Takecare, Inc.
$.10 par common
Total Pharmaceutical Care, Inc.
No par common
TVX Gold, Inc.
No par common
USA W aste Services, Inc.
$.01 par common
Value Health, Inc.
No par common
Ventura Entertainment Group, LTD.
Class A W arrants (expire 05-31-93)
Video Jukebox Network, Inc.
$.001 par common
Zilog, Inc.
No par common
Deletion From the List of Foreign Margin
Stocks
Polly Peck International, PLC
Ordinary shares, par value 10 p
By order of the Board of Governors of the
Federal Reserve System, acting by its Staff
Director of the Division of Banking
Supervision and Regulation pursuant to
delegated authority (12 CFR 265.2(c)(18)),
April 23,1991.

William W. Wiles,
Secretary of the Board.
[FR Doc. 91-10025 Filed 4-28-91, 8:45 amj
BILLIN G C O D E 6 2 1 0 - 0 1 - M


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102