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Federal Reserve Bank
OF DALLAS
ROBERT

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

P R E S ID E N T
A N D C H IE F E X E C U T IV E O F F IC E R

N o v e m b e r 2 0 , 1992

dallas.
texas 75222

N o t i c e 92-109
TO:

T h e C h i e f E x e c u t i v e O f f i c e r of each
m e m b e r b a n k and o t h e r s c o n c e r n e d in
the E l e v e n t h Federal R e s e r v e D i s t r i c t
SUBJECT
O v e r - t h e - C o u n t e r (OTC) M a r g i n S t o c k s
DETAILS

The B oard of G o v e r n o r s of the Federal R e s e r v e S y s t e m has p u b l i s h e d a
r e v i s e d list of o v e r - t h e - c o u n t e r (OTC) s t ocks that are s u b j e c t to its m a r g i n
r e g u l a t i o n s , e f f e c t i v e N o v e m b e r 9, 1992.
T h e B oard p u b l i s h e s a c o m p l e t e list
four t i m e s a year, and the Federal R e g i s t e r a n n o u n c e s a d d i t i o n s to and
d e l e t i o n s f r o m the list.
The next p u b l i c a t i o n of the B o a r d ’s list is s c h e d ­
uled for J a n u a r y 1993.
The c o m p l e t e list of OTC stocks as o f N o v e m b e r 9, 1992, is a v a i l a b l e
f r o m the P u b l i c A f f a i r s D e p a r t m e n t o f this B a n k upon request.
Inclu d e d with
the list is a l i s t i n g of f o r e i g n m a r g i n stocks.
The f o r e i g n m a r g i n stocks
l i sted are f o 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 for m a r g i n t r e a t m e n t at brok e r deal e r s .
ATTACHMENT
Attached
to the list of O T C
O c t o b e r 29, 1992.
li s t i n g of f o r e i g n

is a c o p y of the Federal R e g i s t e r a n n o u n c e m e n t o f r e v i s i o n s
stocks as shown on p a ges 4 8939-42, Vol. 57, No. 210, d ated
A l s o inclu d e d are a d d i t i o n s to and d e l e t i o n s f r o m the
m a r g i n stocks.
MORE INFORMATION

For m o r e i n f o r m a t i o n r e g a r d i n g m a r g i n a b l e OTC s t o c k r e q u i r e m e n t s ,
p l e a s e c o n t a c t E u gene Coy at (214) 922-6201.
For c o p i e s of the c o m p l e t e list
or a d d itional copi e s o f this B a n k ’s notice, p l e a s e c o n t a c t the P u b l i c A f f a i r s
D e p a r t m e n t at (214) 922-5254.
S i n c e r e l y yours,

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.

This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)

Federal Register / Vol. 57, No. 210 / Thursday, October 29, 1992 / Rules and Regulations

FEDERAL RESERVE SYSTEM
12 CFR Parts 207,220,221 and 224
[R e g u la tio n s G, T, U a n d X]

Securities Credit Transactions; List ot
Marginabie OTC Stocks; List of
Foreign Margin Stocks
a g e n c y : Board of Governors of the
Federal Reserve System.
ACTION: Final rule; determination of
applicability of regulations.
s u m m a r y : The List of Marginabie 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
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 and deletions from the
previous OTC List and the Foreign List
Both Lists were last published on July
27,1992 and effective on August 10,
1992.
EFFECTIVE DATE: November 9,1992.
FOR FURTHER INFORMATION CONTACT:

Peggy Wolffrum, Securities Regulation
Analyst, Division of Banking
Supervision and Regulation, (202) 4522781, Board of Governors o f the Federal
Reserve System, Washington, DC 20551.
For the hearing impaired only, contact
Dorothea Thompson,
Telecommunications Device for the D eaf
(TDD) at (202) 452-3544.
SUPPLEMENTARY INFORMATION: Listed
below are additions to an d deletions
from the OTC L ist This supersedes the
last OTC List w hich w as effective

48939

August 10,1992. Additions and deletions
to the OTC List were last published on
July 27,1992 (57 FR 33101). 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 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 marginabie upon the
effective date of their NMS 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.
A lso listed below are additions to and
deletions from the Board’s Foreign List,
which w as last published July 27,1992.
(57 FR 33101) and effective August 10,
1992. The Foreign List includes those
securities that meet the criteria in
§ 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 w hole or in part upon
the composition of these Lists a s soon as
possible. The Board h as responded to a

48940

Federal Register / Vol. 57, No. 210 / Thursday, October 29, 1992 / Rules and Regulations

request by the public an d allow ed
approxim ately a tw o-w eek d elay before
the Lists are effective.

List of Subjects
12 CFR P art 207

Banks, Banking, Credit, F ederal
R eserve System , Margin, M argin
requirem ents, N ational M arket System
(NMS Security), Reporting and
recordkeeping requirem ents, Securities.
12 CFR P art 220

Banks, Banking, Brokers, Credit,
Federal Reserve System, Margin, M argin
requirem ents, Investm ents, N ational
M arket System (NMS Security),
Reporting an d recordkeeping
requirem ents, Securities.
12 CFR Part 221

Banks, Banking, Credit, Federal
Reserve System, Margin, M argin
requirem ents, N ational M arket System
(NMS Security), Reporting and
recordkeeping requirem ents, Securities.
12 CFR Part 224

Banks, Banking, Borrowers, Credit,
F ederal Reserve System, Margin, M argin
requirem ents, Reporting an d
recordkeeping requirem ents, 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 207.0
(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 Marginabie OTC
Stocks

Stocks Removed For Failing Continued
Listing Requirements
B & H Bulk Carriers, Ltd.
$.01 p a r common
B anyan M ortgage Investors L.P.
D epositary units representing $10.00 p ar
units of lim ited partnersh ip
B anyan M ortgage Investors L P . II
D epositary units of lim ited partnersh ip
interest
Bobbie Brooks Incorporated
$.001 p a r common
B rajdas C orporation
$.10 p a r comm on
Calgene, Inc.
$.001 p a r convertible exchangeable
preferred
C edar Group, Inc.
$.001 p a r common
C lass A, w a rra n ts (expire 11-08-94)
Chem ical L eam an C orporation
$2.50 p a r common
Concorde C areer Colleges, Inc.
$.10 p a r comm on
Consul R estaurant C orporation

$.10 p a r comm on
C ytogen C orporation
$2.50 p a r convertible exchangeable
preferred
EIP M icrow ave, Inc.
No p a r com m on
E m ployers C asu alty Com pany
$.25 p a r comm on
First of A m erica Bank C orporation
Series E, convertible preferred
9% convertible preferred, $11.00 p a r value
G lenex Industries, Inc.
No p a r com m on
Griffith Consum ers Com pany
$.01 p a r comm on
GV M edical, Inc.
$.05 p a r com m on
H ealth P rofessionals Inc.
$.02 p a r comm on
H ow ard Savings Bank, The
(N ew Jersey) $2.00 p a r comm on
Jean Philippe Fragrances, Inc.
W arra n ts (expire 01-15-93)
John A dam s Life C orporation
No p a r comm on
Long Lake Energy C orporation
$.001 p a r com m on
M ajor R ealty C orporation
$.01 p a r com m on
M ass M icrosystem s, Inc.
No p a r comm on
M edical Technology System s, Inc.
W arra n ts (expire 08-15-92)
N atec Resources, Inc.
No p a r comm on
Nu-M ed, Inc.
$.01 p a r comm on
Nucorp, Inc.
Paired w a rra n ts (expire 10-31-92)
C lass C, w a rra n ts (expire 06-30-93)
Pioneer S ta n d ard E lectronics, Inc.
9% convertible su b o rd in ated deb en tures
R eserve Indu stries C orporation
$1.00 p a r com m on
Sm ith Internatio nal, Inc.
C lass A, w a rra n ts (expire 02-28-95)
Sonora Gold C orporation
No p a r com m on
Tel-O ffshore T rust
No p a r units of beneficial interest
T ran ste ch Industries, Inc.
$.50 p a r com m on
W olverine E xploration C om pany
$.50 p a r comm on
$1.00 p a r convertible exchangeable
preferred
C lass A, w a rra n ts (expire 12-31-93)

Stocks Removed For Listing On A National
Securities Exchange Or Being Involved In An
Acquisition
Allied R esearch C orporation
$.10 p a r comm on
A pplied Pow er, Inc.
C lass A, $.20 p a r comm on
A utom ated Security H oldings Pic
A m erican D epositary Receipts
Basic A m erican M edical, Inc.
No p a r comm on
C onsolidated—T am oka L and Co.
$1.00 p a r comm on
Cousins Properties Inc.
$1.00 p a r comm on
D urr-Fullauer M edical, Inc.
$.50 p a r comm on
7% convertible su bord inated d ebentures

F ed erated Bank, S.S.B. (W isconsin)
$.10 p a r comm on
First A m erican Bancorp
$1.00 p a r comm on
First Federal of A labam a, FSB
$.01 p a r comm on
First F ederal Savings & Loan A ssociation of
Lenaw ee
$1.00 p a r comm on
First N ational Pennsylvania Corp.
$4,166 p a r common
First Peoples Financial C orporation
$6.00 p a r common
First Savings Bancorp
$1.00 p a r comm on
First Security C orporation of Kentucky
No p a r common
Fred Meyer, Inc.
$.01 p a r common
G oal System s International, Inc.
No p a r common
G olden C orral R ealty C orporation
$.01 p a r common
H ealth Insurance of Verm ont, Inc.
$3.00 p a r comm on
H enley Group, Inc., The
$.01 p a r comm on
HM O A m erica, Inc.
$.01 p a r common
Interm agnetics G eneral C orporation
$.10 p a r comm on
KMC Enterprises, Inc.
$.001 p a r comm on
M agna International, Inc.
C lass A, no p a r sub ord inated voting sh ares
M etro B ancshares Inc.
$.01 p a r comm on
N ew London Inc.
$.10 p a r comm on
N iagara Exchange C orporation
$1.00 p a r comm on
Nova P harm aceutical C orporation
$.01 p a r comm on
Class C, w a rra n ts (expire 06-30-93)
C lass D, w a rra n ts (expire 06-30-98)
PHP H ealth care C orporation
$.01 p a r comm on
Provident Life & A ccident Insurance
C om pany of A m erica
C lass A, $1.00 p a r comm on
C lass B, $1.00 p a r comm on
Q uantronix C orporation
$.01 p a r comm on
Security Financial Group Inc.
$.10 p a r com m on
Society C orporation
$1.00 p a r comm on
Sunrise M edical Inc.
$1.00 p a r common
S unw est Financial Services, Inc.
No p a r common
Surgical C are Affiliates, Inc.
$.25 p a r common
T2 M edical Inc.
$.01 p a r comm on
W ashington Energy Com pany
$5.00 p a r comm on
W icat System s Inc.
$.01 p a r comm on
W iland Services, Inc.
$.10 p a r comm on
A dditions to the List o f M arginabie OTC
Stocks
3CI Com plete Com pliance C orporation

Federal Register / V ot 57, No. 210 / Thursday, October 29, 1992
$.01 p a r com m on
4th D im ension Softw are Ltd.
O rdinary Shares, NIS 01 p a r value
Abiom ed, Inc.
$.01 p a r common
A delphia C om m unications C orporation
C lass A. $.01 p a r comm on
Alden Press Com pany. Thp
$.01 p ar common
A lpine M eadow s o f Tahoe. Inc
$.25 p a r comm on
Am ber's Stores, Inc.
$.01 p a r comm on
Am erican Insurance Group. Inc
$.10 p a r comm on
A m erican Life H olding Com pany
$.01 p a r redeem able cum ulative preferred
A m erican R esidential Holdings C orporation
$-04 p a r comm on
A m erican Studios, Inc.
$.001 p a r com m on
Amity B ancshares. Inc.
$.01 p a r common
Am pex Incorporated
C lass A $.01 p a r common
A nchor B ancorp W isconsin. Inc.
$.10 p a r comm on
A ppliance Recycling C enters of A m erica. Inc.
No p a r comm on
A rbor N ational Holdings. Inc.
$.01 p a r comm on
Arch Petroleum , Inc.
$.01 p a r comm on
B.V.R. T echnologies Limited
O rd inary S h ares NIS .50 p a r value
Bank of E ast T ennessee
$2.00 p a r comm on
B anyan System s Incorporated
$.01 p a r com m on
Base T en System s, Inc.
Series A, rights (expire 11-09-92)
Bestop, Inc.
$.002 p a r com m on
BU E nterprises, Inc.
No p a r com m on
Biomedical’W aste System s, Inc.
$.001 p a r comm on
C lass B, w a rra n ts (expire 06-04-96)
Biotime, Inc,
No p a r com m on
Bolsa Chica Com pany, The
Series A convertible preferred
Branford Savings Bank (Connecticut)
$1.00 p a r com m on
California Jam ar, Inc.
$.01 p a r comm on
Cam -N et C om m unications
No p a r comm on
Capitol M ultim edia, Inc
$.10 p a r comm on
C a rau sta r Industries, Inc.
$.10 p a r common
Cenit Bancorp, Inc. (Virginia)
$.01 p a r common
Chai-N a-Ta G inseng Products Limited
No p a r common
C heesecake Factory Incorporated, The
$.01 p a r comm on
Clinicom Incorporated
$.001 par common
Clinicorp, Inc
$.01 p a r common
Colum bia Banking System s, Inc
(W ashington)

No p a r com m on
C om central C orporation
$.02 p a r comm on
Com pania C ervecerias U nides S.A.
A m erican D epositary R eceipts
C ontrol D ata System s, Inc.
$.01 p a r com m on
C orrections C orporation of A m erica
W arran ts (expire 09-14-96)
C reative Technologies Ltd.
$.25 p a r o rdinary shares
C row nam erica, Inc.
No p a r comm on
C ryenco Sciences Inc.
C lass A, $.01 p a r comm on
D anskin, Inc.
$.01 p a r comm on
D ata Race, Inc.
No p a r common
DSP Technology, Inc.
No p a r com m on
Dynagen, Inc.
$.01 p a r com m on
Eagle H ard w are & G arden. Inc.
No par comm on
Electronics for Imaging. Inc.
No p a r comm on
Encore W ire C orporation
$.01 p a r com m on
Energy C onversion Devices, Inc.
$.01 p a r comm on
Envirogen. Inc.
$.01 p a r com m on
Ezcony Interam erica Inc.
No p a r com m on
F & M D istributors, Inc.
$.01 p a r comm on
Fabri-C enters of A m erica, Inc.
6Vi% convertible su b o rd in ated debentures
First Banks. Inc.
C lass C, 9% increasing ra te red eem able
cum ulative preferred
First C h a rte r C orporation (North C arolina)
$5.00 p a r com m on
First F ederal Savings B ank of C olorado
$1.00 p a r com m on
First In tersta te B ank of S outhern Louisiana
$2.50 p a r com m on
First Pacific N etw orks, Inc.
$.001 p a r comm on
First U nited C orporation (M aryland)
$5.00 p a r com m on
Firstrock Bancorp, Inc.
$.01 p a r com m on
G enzym e C orporation
Series N, w a rra n ts (expire 12-31-06)
Hi-Tech P harm acal C om pany. Inc.
$.01 p a r comm on
Interface. Inc.
8% convertible subo rd in ated debentures
due 2013
International Petroleum C orporation
No p a r common
|o n es Spacelink, Ltd.
C lass A $.01 p a r comm on
|u st T oys, Inc.
$.01 p a r comm on
Kennedy-W ilson, Inc
$.01 p a r comm on
Layne, Inc
$.01 p a r com m on
Lifecell C orporation
$.001 p a r comm on
U fequest M edical, Inc.
$.001 p a r com m on

f Rules and Regulations

48941

Littelfuse, Inc.
$.01 p a r comm on
W arra n ts (expire 12-31-2001)
McAfee A ssociates, Inc.
$.01 p a r comm on
M edco C ontainm ent Services, Inc.
6% convertible subordinated debentures
M edic C om puter System s, Inc
$.01 p a r com m on
M edical M arketing Group, Inc.
7.5% convertible su bord inated debentures
M edrad, Inc.
$.10 par common
M egafoods Stores, Inc.
$.001 p a r comm on
M icro Bio-Medics, Inc.
$.03 p a r comm on
M icrotek M edical, Inc.
$.01 p a r common
M obile A m erica C orporation
$.10 p a r common
M oney Store, Inc., The
No p a r common
MSB Bancorp, Inc. (New York)
$.01 p a r common
M utual Savings Bank. F.S.B. (Michigan)
$.01 p a r common
N etrix C orporation
$.05 p a r comm on
N oise C ancellation Technologies, Inc.
$.01 p a r common
N o rth star C om puter Form s, Inc.
$.05 p a r comm on
Nu-Kote Holding, Inc.
C lass A, $.01 p a r common
O n A ssignm ent, Inc.
$.01 p a r comm on
Paco P harm aceutical Services, Inc.
$.01 p a r comm on
PDK Labs. Inc.
$.01 p a r comm on
Series A. $.01 p a r cum ulative convertible
preferred
C lass B, w a rra n ts (expire 04-14-97)
C lass C, w a rra n ts (expire 04-14-97)
Peak T echnologies Group, Inc., The
$.01 p a r com m on
Petroleum H eat a n d Pow er Com pany. Inc.
C lass A, $.10 p a r comm on
Pyxis C orporation
$.01 p a r comm on
R esearch Frontiers Incorporated
$.125 p a r comm on
Scios Nova. Inc.
C lass C, w a rra n ts (expire 06-30-93)
C lass D, w a rra n ts (expire 06-30-98)
Softimage, Inc.
No p a r common
. Som anetics C orporation
$.01 p a r comm on
C lass B, w a rran ts (expire 03-20-96)
Sportm art, Inc.
$.01 p a r com m on
Sports & R ecreation Inc.
$.01 p a r common
Sports H eros, Inc.
W arra n ts (expire 11-20-95)
S tratacom , Inc.
$.01 p a r comm on
Swing-N-Slide Corporation
$.01 p a r comm on
Synetic, Inc.
7% convertible sub ord inated debenture®

48942

Federal Register / Vol. 57, No. 210 / Thursday, October 29. 1992 / Rules and Regulations

T heragenics C orporation
$.01 p a r common
T odhunter International. Inc.
$.01 p a r comm on
Tops A ppliance City, Inc.
No p a r comm on
T ran sam erican W aste Industries. Inc.
$.001 p a r common
C lass A, w a rra n ts (expire 11-16-96)
C lass B, w a rra n ts (expire 11-12-96)
T W Holdings, Inc.
Series A, 9% cum ulative convertible
exchangeable preferred
U.S. B ancorp (Oregon)
Series A, &Va% p a r cum ulative preferred
U nion Bank (California)
Series A, 8.375% preferred stock
U niroyal T echnology C orporation
$.01 p ar common
U niversal S tan d ard M edical Laboratories,
Inc.
No p a r common
V alue-A dded C om m unications, Inc.
$.01 p a r comm on
Zoll M edical C orporation
$.02 p a r common
Additions to the List of Foreign Margin
Stocks
C anon Inc.
¥ 50 p a r comm on
C athay Pacific A irw ays, Ltd.
HK$.20 p a r common
C itic Pacific Ltd.
HK$.40 p a r common
H ong Kong & China G as Co. Ltd.
HK$.25 p a r common
H opew ell H oldings Ltd.
HK$.50 p a r common
N ippon T elegraph & Telephone C orporation
Y 50,000 p a r common
Shim achu Co. Ltd.
Y 50 p a r comm on
D eletions From the List of Foreign Margin
Stocks
H am m erson Property Investm ent and
D evelopm ent C orporation Pic
Common, p a r value 25 p
H aw ker Siddeley Group Pic
Common, p a r value 25 p
M axw ell Com m unication C orporation Pic
O rdinary shares, p a r value 25 p
T aylor W oodrow Pic
Common, p a r value 25 p
T rafalgar H ouse Pic
Common, p a r value 20 p
U ltram ar Pic (Lasmo Pic)
O rdinary shares, p a r value 25 p
By order of the Board of G overnors of the
F ederal Reserve System , acting by its
D irector of the Division of Banking
Supervision a n d R egulation p ursu ant to
delegated authority (12 CFR 265.7(f)(10)),
O ctober 23,1992.
W illiam W. Wile?.

Secretary o f the Board.
(FR Doc. 92-26226 Filed 10-28-02; 8:45 a m i
BILLING CODE 62 10-0 1-M

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