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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
AND

C H IE F E X E C U T IV E

O F F IC E R

November 8, 1993

DALLA S , TEXAS
75265-590 6

N o tice 93-115
TO:

The Chief Executive Officer of each
member bank and others concerned in
the Eleventh Federal Reserve District
SUBJECT
Over-the- C o u n t e r (OTC) Margin Stocks
DETAILS

The Board of Governors of the Federal Reserve System has published a
revised list of over-the-counter (OTC) stocks that are subject to its margin
regulations, effective November 8, 1993. The Board publishes a complete list
four times a year, and the Federal Register announces additions to and
deletions from the list.
The complete list of OTC stocks as of November 8, 1993, is available
from the Public Affairs Department of this Bank upon request.
Included with
the list is a listing of foreign margin stocks. The foreign margin stocks
listed are foreign equity securities eligible for margin treatment at brokerdealers.
ATTACHMENT

Attached
to the list of OTC
October 25, 1993.
listing of foreign

is a copy of the Federal Register announcement of revisions
stocks as shown on pages 54929-32, Vol. 58, No. 204, dated
Also included are additions to and deletions from the
margin stocks.
MORE INFORMATION

For more information regarding marginable OTC stock requirements,
please contact Eugene Coy at (214) 922-6201. For copies of the complete list
or additional copies of this Bank’s notice, please contact the Public Affairs
Department at (214) 922-5254.
Sincerely 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. 58, No. 204 / Monday, October 25, 1993 / Rules and Regulations

FEDERAL RESERVE SYSTEM
12 CFR Parts 207, 220, 221 and 224
[ R e g u l a t i o n s G, T, U, and X]

Securities Credit Transactions; List of
Marginable OTC Stocks; List of
Foreign Margin Stocks

Board of Governors of the
Federal Reserve System.
ACTION: Final rule; determination of
applicability of regulations.
AGENCY:

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 the Foreign List.
EFFECTIVE DATE: November 8, 1993.

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 automatically
become marginable 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.
Also listed below are the additions to
and the deletions from the Foreign List,
which was last published on July 26,
1993 (58 FR 39640), and effective
August 9,1993. 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 securities that meet the criteria in
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 any Federal Reserve
Bank.

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
FOR FURTHER INFORMATION CONTACT:
connection with the issuance of this
Peggy Wolffrum, Securities Regulation
amendment due to the objective
Analyst, Division of Banking
character of the criteria for inclusion
Supervision and Regulation, (202) 4522781, Board of Governors of the Federal and continued inclusion on the Lists
specified in 12 CFR 207.6(a) and (b),
Reserve System, Washington, D.C.
220.17(a), (b), (c) and (d), and 221.7(a)
20551. For the hearing impaired only,
and (b). No additional useful
contact Dorothea Thompson,
Telecommunications Device for the Deaf information would be gained by public
participation. The full requirements of 5
(TDD) at (202) 452-3544.
U.S.C. 553 with respect to deferred
SUPPLEMENTARY INFORMATION: Listed
effective date have not been followed in
below are the additions to and the
connection with the issuance of this
deletions from the OTC List. This
supersedes the last OTC List which was amendment because the Board finds
that it is in the public interest to
effective August 9, 1993. Additions and
facilitate investment and credit
deletions to the OTC List were last
decisions based in whole or in part
published on July 26, 1993 (58 FR
upon the composition of these Lists as
39639). A copy of the complete OTC
soon as possible. The Board has
List is available from any Federal
responded to a request by the public
Reserve Bank.
and allowed approximately a two-week
The OTC List includes those stocks
delay before the Lists are effective.
that meet the criteria in Regulations G,
T and U (12 CFR parts 207, 220 and 221, List of Subjects
respectively). This determination also
12 CFR Part 207
affects the applicability of Regulation X
(12 CFR part 224). These stocks have the
Banks, Banking, Credit, Margin,
degree of national investor interest, the
Margin requirements, National Market
depth and breadth of market, and the
System (NMS Security), Reporting and
availability of information respecting
recordkeeping requirements, Securities.

54929

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
All American Semiconductor, Inc.
Class A, warrants
(expire 06-18-97)
American City Business Journals, Inc.
6% convertible debentures
American Health Services Corp.
$.03 par common
Assix International, Inc.
$.001 par common
Bruno’s Inc.
6.5% convertible subordinated
debentures
BTR Realty Inc.
$.01 par common
Cimflex Tecknowledge Corporation
$.01 par common
Fabri-Centers of America, Inc.
6.V4% convertible subordinated
debentures
F.F.O. Financial Group, Inc.
$.10 par common
Genetics Institute Inc.
$4.00 convertible exchangeable
preferred
NHD Stores, Inc.
$.10 par common
Perceptronics, Inc.
$.001 par common
Price/Stern/Sloan, Inc.
$.10 par common
Sahara Resorts
$.20 par common
Sciclone Pharmaceuticals Inc.
Warrants (expire 03-16-97)

54930

Federal Register / Vol. 58, No. 204 / M onday, October 25, 1993 / Rules and Regulations

Sierra Real Estate Equity Trust '84
No par common
United Coasts Corporation
$.01 par common
Warehouse Club, Inc.
Warrants (expire 11-13-94)

Stocks Removed for Listing on a
National Securities Exchange or Being
Involved in an Acquisition
American National Petroleum Company
$.01 par common
ATKM Metals Center Inc.
No par common
Aztar Corporation
$.01 par common
Ballard Medical Products
$.10 par common
Centennial Savings Bank, FSB
$ 1.00 par common
Columbia Hospital Corporation
$.01 par common
Commerce Banc Corporation
$1.25 par common
Commonwealth Bancshares Corp.
$3.50 par common
Costar Corporation
$.10 par common
Crestar Financial Corporation
$5.00 par common
Cybertek Corporation
$.01 par common
Dahlberg, Inc.
$.10 par common
Enclean, Inc.
$.10 par common
Equitable of Iowa Companies
No par common
Franklin First Financial Corp
$.01 par common
HDR Power Systems Inc.
$.01 par common
Home Intensive Care Inc.
$.01 par common
ICF Kaiser International Inc.
$.01 par common
La Petite Academy, Inc.
$.10 par common
National Community Banks Inc.
$2.00 par common Series B, $2.00 par
cumulative convertible preferred
Naylor Industries, Inc.
$.01 par common
Perception Technology Corporation
$.10 par common
Pioneer Bancorp, Inc.
$ 1.00 par common
Pioneer Fed Bancorp, Inc.
$.01 par common
Dreston Corporation
$1.00 par common
Protective List Corporation
$.50 par common
USA Waste Services, Inc.
$.01 par common
Vari-Cajre Inc.
$.01 par common
Village Financial Services Ltd.
$.01 par common

Additions To The List of Marginable
OTC Stocks
A Pea in the Pod, Inc.
$.01 par common
A+ Communications, Inc.
$.01 par common
Actel Corporation
$.001 par common
Aetrium Incorporated
$.001 par common
Air Methods Corporation
$.06 par common
Allied Holdings Inc.
No par common
American Oilfield Divers, Inc.
No par common
Antec Corporation
$.01 par common
APS Holding Corporation
Class A, $.01 par common
Aramed, Inc.
$.01 par common
Arbor Health Care Company
$.03 par common
Arethusa (Off-Shore) Limited
$.10 par common
Arrow Transportation Company
No par common
Asyst Technologies Inc.
No par common
Atchison Casting Corporation
$.01 par common
Atlantic Coast Airlines, Inc.
$.02-par common
Baker, J., Inc.
7% convertible subordinated
debentures due 2002
Bank of Nashville, The
$6.00 par common
Benton Oil & Gas Company
$.01 par common
Best Power Technology, Incorporated
$.01 par common
Big Rock Brewery Ltd.
No par common
Billy Blues Food Corporation
$.05 par common
Biosafety Systems, Inc.
$.01 par common
Broadcasting Partners Inc.
Class A, $.01 par common
Builders Transport, Incorporated
8% convertible debentures due 2005
Cairn Energy USA, Inc.
$.01 par common
Capital Gaming International, Inc.
No par common
Carolina First Corporation
Series 1993, 7.50% non-cumulative
convertible preferred
Casino & Credit Services, Inc.
$.001 par common Warrants (expire
08-10-98)
Casino Resource Corporation
$.01 par common
Class A, warrants (expire 09-15-96)
CB Bancorp, Inc. (Indiana)
$.01 par common

Cencall Communications Corporation
$.001 par common
Central Garden & Pet Company
$.01 par common
Central Virginia Bankshares, Inc.
$2.50 par common
CFI Proservices, Inc.
No par common
Checkmate Electronics, Inc.
$.01 par common
Churchill Downs Incorporated
No par common
Cobancorp, Inc. (Ohio)
No par common
Cobra Gulf Incorporated
$.001 par common
Commander Aircraft Company
$.50 par common
Commercial Bankshares Inc. (Florida)
$.08 par common
Community First Bank (Florida)
$2.00 par common
Complink, Ltd.
$.01 par common
Computer Concepts Corp.
$.0001 par common
Comstock Bank (Nevada)
$.50 par common
Conductus, Inc.
$.0001 par common
Cornerstone Imaging, Inc.
$.01 par common
CSB Financial Corporation (Virginia)
$.01 par common
Cygne Designs, Inc.
$.01 par common
Cyrix Corp.
$.004 par common
Dataware Technologies, Inc.
$.01 par common
Davco Restaurants, Inc.
$.001 par common
Diasonics Ultrasound, Inc.
$.01 par common
Discovery Zone Inc.
Liquid Yield Option Notes due 1014-2013
Dual Drilling Company
$.01 par common
Elek-Tek, Inc.
$.01 par common
Envirofil Inc.
$.001 par common
EP Technologies, Inc.
$.01 par common
Equivest Finance, Inc.
$.05 par common
EV Environmental, Inc.
$.01 par common
Evans Systems, Inc.
$.01 par common
Excel Technology, Inc.
Class B, warrants (expire 02-08-98)
Executone Information Systems, Inc.
Series A, preferred
EZ Communications, Inc.
Class A, $.01 par common
FCB Financial Corporation
$.01 par common

Federal Register / Vol. 58, No. 204 / Monday, October 25, 1993 / Rules and Regulations
FFW Corporation
$.01 par common
First Colonial Group, Inc.
(Pennsylvania)
$5.00 par common
First Federal Savings and Loan (Ohio)
$.01 par common
First Midwest Financial, Inc.
$.01 par common
First Palm Beach Bancorp, Inc. (Florida)
$.01 par common
First Southeast Financial Corporation
$.01 par common
Founders Financial Corporation
(Florida)
$1.00 par common
Futuremedia Public Limited Company
American Depositary Receipts
Warrants (expire 08-19-96)
Gartner Group Inc.
Class A, $.001 par common
General Atlantic Resources, Inc.
$.01 par common
Gensia, Inc.
Warrants (expire 12-31-96)
Govett & Company Limited
American Depositary Receipts
Great American Management and
Investment, Inc.
$.01 par common
Great Central Mines, N.L,
American Depository Receipts
Great Wall Electronic International Ltd.
American Depositary Receipts
Greenfield Industries, Inc.
$.01 par common
Grow Biz International, Inc.
No par common
GTE California, Inc.
4.5% 1956 cumulative preferred
Hariston Corporation
No par common
Haven Bancorp Inc. (New York)
$.01 par common
Hollinger, Inc.
No par common
Hollywood Entertainment Corporation
No par common
Home State Holdings, Inc.
$.01 par common
Hometown Buffet, Inc.
$.01 par common
Image Industries, Inc.
$.01 par common
Inbrand Corporation
$.10 par common
Independence Bancorp, Inc. (New
Jersey)
$ 1.00 par preferred
Innodata Corporation
Warrants (expire 08-09-97)
INVG Mortgage Securities Corp.
$.01 par common
Invitro International
Warrants (expire 05-16-96)
IVI Publishing Inc.
$.01 par common
Johnstown America Industries Inc.
$.01 par common

K-TEL International, Inc.
$.01 par common
Kenetech Corporation
$.0001 par common
Kentucky Electric Steel Inc.
$.01 par common
Key Technology, Inc.
No par common
Kurzweil Applied Intelligence, Inc.
$.01 par common
Lady Luck Gaming Corporation
$.001 par common
Lam Research Corporation
6% convertible subordinated
debentures due 2003
Landry’s Seafood Restaurants, Inc.
$.01 par common
Las Vegas Entertainment Network, Inc.
$.001 par common
Laurel Bancorp, Inc. (Maryland)
$.01 par common
LCI International, Inc.
5% cumulative convertible
exchangeable preferred
Leader Financial Corporation
$1.00 par common
Level One Communications
Incorporated
No par common
Lidak Pharmaceuticals
Class A, no par common
Class B, warrants (expire 05-08-95)
Class C, warrants (expire 05-26-95)
Life Medical Sciences, Inc.*
$.01 par common
Live Entertainment Inc.
Series B, no par cumulative preferred
Loewenstein Furniture Group, Inc.
$.01 par common
M-Systems Flash Disk Pioneers Ltd.
Ordinary Shares, NIS $.001
Madge, N.V.
lg par common
Magnetech Corporation
$.000025 par common
Manugistics Group, Inc.
$.002 par common
Maxim Group, Inc., The
$.001 par common
Warrants (expire 09-30-98)
MDL Information Systems, Inc.
$.01 par common
Metrocall, Inc.
$.01 par common
Micro Component Technology Inc.
$.01 par common
Microprobe Corporation
$.001 par common
Warrants (expire 09-28-98)
Mid Ocean Limited
Class A, $.20 par ordinary shares
Milgray Electronics, Inc.
$.25 par common
Momentum Corporation
$1.00 par common
Monaco Coach Corporation
$.01 par common
Monarch Casino & Resort, Inc.
$.01 par common

54931

Morgan Group, Inc., The
Class A, $.015 par common
M ountain Parks Financial Corporation
$.001 par common
MRS Technology, Inc.
$.01 par common
National Gypsum Company
$.01 par common
Warrants (expire 07-01-2000)
National Picture & Frame Company
$.01 par common
National R.V. Holdings Inc.
$.01 par common
National Record Mart, Inc.
$.01 par common
Netmanage, Inc.
$.01 par common
Network Solutions, Inc.
$.10 par common
Neurex Corporation
$.01 par commo
North American Savings Bank
(Missouri)
$1.00 par common
North American Watch Corporation
$.01 par common
North Coast Energy, Inc.
Series B, $.01 par cumulative
preferred
NSD Bancorp, Inc.
$1.00 par common
Octus, Inc.
No par common
OHSL Financial Corp.
$.01 par common
Old Lyme Holding Corporation
$.01 par common
Omega Environmental, Inc.
$.0025 par common
Omni Insurance Group, Inc.
$.01 par common
Oroamerica, Inc.
$.001 par common
Pairgain Technologies, Inc.
$.001 par common
Panhandle Royalty Company
Class, A, $.10 par common
Park View Federal Savings Bank (Ohio)
$.01 par common
Performance Food Group Company
$.01 par common
Petsmart, Inc.
$.0001 par common
Philadelphia Consolidated Holding
Company
No par common
Phillips & Jacobs, Incorporated
$.01 par common
Preferred Entertainment, Inc.
$.01 par common
Price Company, The
Convertible subordinated debentures
due 2012
Price Reit, Inc., The
Series B, $.01 par common
Quickresponse Services, Inc.
No par common
Redman Industries Inc.
$.01 par common

54932

Federal Register / Vol. 58, No. 204 / Monday, October 25, 19S3 / Rules and Regulations

Renal Treatment Centers, Inc.
$.01 par common
Revenue Properties Company Limited
No par common
RFS Hotel Investors, Inc.
$.01 par common
RHNB Corporation
$2.50 par common
Rimage Corporation
$.01 par common
River Oaks Furniture, Inc.
$.01 par common
Royal Grip, Inc.
$.001 par common
Rural/Metro Corporation
$.01 par common
Schuler Homes, me.
6V2% convertible subordinated
debentures due 2003
Scientific Games Holding Corporation
$.001 par common
Servicios Financieros Quadrum, S. A.
American Depositary Receipts
SFX Broadcasting Inc.
Class A, $.01 par common
Shuffle Master, Inc.
$.01 par common
SI Diamond Technology, Inc.
$.001 par common
Simmons O utdoor Corporation
$.01 par common
Speizman Industries, Inc.
$.10 par common
SPSS Inc.
$.01 par common
Stant Corporation
$.01 par comm on
Starcraft Automotive Corporation
No par common
Starsight Telecast, Inc.
No par common
Statesman Group, Inc., The
6V4% convertible subordinated
debentures due 2003
Steck-Vaughn Publishing Corporation
$.01 par common
Suburban Bancorporation, Inc. (Ohio)
$.01 par common
Sudbury, Inc.
$.01 par common
Summa Four, Inc.
$.01 par common
Taro-Vit Industries Ltd.
Ordinary shares (NIS .0001 par)
Thomas Group, Inc.
$.01 par common
Tinsley Laboratories, Inc.
No par common
Triangle Pacific Corporation
$.01 par common
Ultratech Stepper, Inc.
$.001 par common
Uniflex, Inc.
$.10 par common
Union Bankshares Corporation
$4.00 par common
United International Holdings, Inc.
Class A, $.01 par common
Urethane Technologies, Inc.

$.01 par common
Vaalco Energy, Inc.
$.10 par common
Valley Fashions Corporation
Class A, $.01 par common
Valuevision International, Inc.
$.01 par common
Victoria Financial Corporation
$.01 par common
Washington Mutual Savings Bank
(Washington)
Series E, 7.6% no par non-cumulative
perpetual preferred
Wellcare Management Group, Inc., The
$.01 par common
W onderware Corporation
$.001 par common
Zale Corporation
$.01 par common
Class A warrants (expire 07-29-98)
Zonagen, Inc.
$.001 par common
Additions to the List of Foreign Margin
Stocks
Canadian Natural Resources Ltd.
No par common
Nippon Paper Industries Co., Ltd.
50 par common
Deletions From the List of Foreign
Margin Stocks
Jujo Paper Company Ltd.
50 par common
M idland Bank PLC
Ordinary shares, par vahie 100 p
Rank Hovis McDougall PLC
Common, par value 25 p
Sanyo-Kokusaku Pulp Co., Ltd.
50 par common
By order of the Board o f 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 19,1993.

William W. Wiles,

Secretary of the Board.
[FR Doc. 93-26132 Filed 10-22-93; 8:45 am]
BILUNG CODE 8 2 1 0 -0 1 -P

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