The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
Federal Reserve Bank OF DALLAS ROBERT D. M C T E E R , J R . D A LLA S , TEXAS p re sid e n t AND C H I E F E X E C U T I V E O F F I C E R May 30 1995 7 5 2 6 5 -5 9 0 6 Notice 95-48 TO: The Chief Executive Officer of each member bank and others concerned in the Eleventh Federal Reserve District SUBJECT Over-the-Counter (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 May 8, 1995. Also published is the List of Foreign Margin Stocks for foreign equity securities that meet the criteria in Regulation T. The foreign margin stocks listed are foreign equity securities eligible for margin treatment at broker-dealers. 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 May 8, 1995, is available from the Public Affairs Department of this Bank upon request. Included with the list is a listing of foreign margin stocks. ATTACHMENT Attached is a copy of the Federal Register announcement of revisions to the list of OTC stocks and revisions to the listing of foreign margin stocks as shown on pages 20005-08, Vol. 60, No. 78, dated April 24, 1995. 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) 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, 20005 Rules and Regulations F e d e ra l R egister Vol. 60, No. 78 Monday, April 24, 1995 traded over-the-counter (OTC) in the United States that have been determ ined by the Board o f Governors of the Federal Reserve System to be subject to the margin requirem ents under certain Federal Reserve regulations. The List of Foreign Margin Stocks (Foreign List) is com posed 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 tim es a year by the Board. This docum ent sets forth additions to and deletions from the previous OTC List and Foreign List. Board’s next quarterly publication of the OTC List. Also listed below are additions to and one deletion from the Board’s Foreign List, w hich was last published on January 31, 1995 (60 FR 5845), and w hich becam e effective February 13, 1995. T he Foreign List includes those foreign securities that meet the criteria in section 220.17 of Regulation T and are eligible for margin treatm ent at broker-dealers on the same basis as dom estic margin securities. A copy of the com plete Foreign List is available from the Federal Reserve Banks. EFFECTIVE DATE: May 8, 1995. Public Comment and Deferred Effective Date FOR FURTHER INFORMATION CONTACT: Peggy W olffrum, Securities Regulation Analyst, Division o f Banking Supervision and Regulation, (202) 4 5 2 2781, Board of Governors of the Federal Reserve System , W ashington, D.C. 20551. For the hearing impaired only, contact Dorothea Thom pson, Telecom m unications Device for the Deaf (TDD) at (202) 4 5 2 -3 5 4 4 . 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 o f Governors of the Federal Reserve System. ACTION: Final rule; determ ination of applicability of regulations. SUMMARY: T h e List of Marginable OTC Stocks (OTC List) is com posed o f stocks SUPPLEMENTARY INFORMATION: Listed below are additions to and deletions from the OTC List, w hich was last published on January 3 1 ,1 9 9 5 (60 FR 5845), and becam e effective February 1 3 ,1 9 9 5 . A copy o f the com plete 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). T h is determ ination also affects the applicability o f Regulation X (12 CFR Part 224). T hese stocks have the degree of national investor interest, the depth and breadth o f market, and the availability o f inform ation 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 Com m ission (SEC). A dditional OTC stocks may be designated as NMS securities in the interim betw een the Board’s quarterly publications. They w ill becom e autom atically marginable upon the effective date o f their NMS designation. The names of these stocks are available at the SEC and at the National Association o f Securities Dealers, Inc. and w ill be incorporated into the The requirem ents of 5 U.S.C. 553 with respect to notice and public participation were not followed in connection w ith the issuance of this amendment due to the objective character of the criteria for inclusion and continued inclu sion 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 inform ation would be gained by public participation. T he full requirem ents o f 5 U.S.C. 553 w ith respect to deferred effective date have not been follow ed in connection w ith the issuance of this amendment because the Board finds that it is in the public interest to facilitate investm ent and credit decisions based in w hole or in part upon the com position of these Lists as soon as possible. The Board has responded to a request by the public and allowed approxim ately a two-week delay before the Lists are effective. List of Subjects 12 CFR Part 207 Banks, Banking, Credit, Margin, Margin requirem ents, National Market System (NMS Security), Reporting and recordkeeping requirem ents, Securities. 12 CFR Part 220 Banks, Banking, Brokers, Credit, Margin, Margin requirem ents, Investm ents, N ational M arket System (NMS Security), Reporting and recordkeeping requirem ents, Securities. 12 CFR Part 221 Banks, Banking, Credit, Margin, Margin requirem ents, National Market System (NMS Security), Reporting and recordkeeping requirem ents, Securities. 20006 Federal Register / Vol. 60, No. 78 / Monday, April 24, 1995 / Rules and Regulations 12 CFR Part 224 Banks, Banking, Borrowers, Credit, Margin, Margin requirem ents, Reporting and recordkeeping requirem ents, Securities. A ccordingly, pursuant to the authority o f sections 7 and 23 of the Securities Exchange Act o f 1934, as amended (15 U.S.C. 78g and 78w ), and in accordance with 12 CFR 2 0 7 .2(k) and 207.6 (Regulation G), 12 CFR 220.2(u) and 220.17 (Regulation T), and 12 CFR 2 2 1 .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 Applied Laser Systems Class A, no par common California M icro Devices Corp. No par com mon CCAIR, Inc. $.01 par com m on Com m unications & Entertainm ent r Corporation $.01 par com m on Cooper Development Company $.10 par com m on Crescent Airways Corporation $.01 par com mon W arrants (expire 0 1 -0 9 -9 8 ) Im m unix Corporation W arrants (expire 0 1 -3 1 -9 5 ) Invitro International No par common Jasm ine Ltd. $.001 par com mon Lone Star Casino Corporation $.001 par common Lukens M edical Corporation $.01 par com m on M edical Care Am erica, Inc. 7% convertible debentures, due 2015 M edical Dynam ics, Inc. $.001 par com mon M edicis Pharm aceutical Corp. Class B, warrants (expire 0 3 -2 8 - 9 5 ) M inistor Peripherals International Ltd. $.0 1 2 4 5 4 par com mon Redeem able warrants (expire 0 7 - 2 9 99) O ctus, Inc. No par com m on Oesi Power Corporation $.01 par com m on PDK Labs, Inc. $.01 par com m on Pharm house Corporation $.01 par com m on Pharmos Corporation $.03 par com m on Phycor, Inc. 6 .5 % convertible subordinated debentures Prim edex Health System s, Inc. $.01 par common PXRE Corporation Depositary Shares Regency Equities Corporation $.01 par com mon RGB Computer & Video, Inc. No par com mon Sayett Group, Inc. Warrants (expire 0 2 -0 5 -9 5 ) Search Capital Group, Inc. $.01 par com m on Security Environm ental System s, Inc. $.03 par com mon Southern M ineral Corporation $.01 par com mon Sports & Recreation, Inc. 4V4% convertible subordinated notes Standish Care Company, The Series A, $.01 par cumulative convertible preferred Staodyn, Inc. W arrants (expire 0 2 -2 8 -9 5 ) Synetic, Inc. 7% convertible subordinated debentures T *H Q , Inc. $.001 par com m on Transam erican Waste Industries, Inc. $.001 par com mon Class A, warrants (expire 1 1 -1 6 -9 6 ) Class B, warrants (expire 1 1 -1 6 -9 6 ) V aalco Energy, Inc. $ .1 0 par com m on Value-Added Com m unications, Inc. $.01 par com m on W ellstead Industries, Inc. $.01 par com m on Stocks Removed for Listing on a National Securities Exchange or Being Involved in an Acquisition A Pea in the Pod, Inc. $.01 par com m on Affymax N.V. Common stock (NLG .06) Air-Cure Environm ental, Inc, $.001 par com mon AK Steel Holding Corporation $.01 par com m on, 7% convertible preferred A m eribanc Investors Group Inc. $ 1 .0 0 par shares of beneficial interest Arbor National Holdings, Inc. $.01 par com m on Atlanfed Bancorp, Inc. (Maryland) $ 1 .0 0 par com mon Balchem Corporation $ .0 6 % par com mon BB & T F in an cial Corporation $ 2 .5 0 par com m on B irtcher M edical System s, Inc. No par com m on Canstar Sports Inc. No par com mon Cardiovascular Imaging System s, Inc. No par com m on Club Car, Inc. $.01 par com m on Colonial Bancgroup, Inc., The (Alabama) Class A, $ 2 .5 0 par common Colonial Group, Inc., The Class A, $.10 par com mon Commerce Group, Inc., The $.50 par com mon Concord Holding Corporation $.01 par com m on Convertech International, Inc. $.01 par com mon Convergent Solutions, Inc. $.01 par com mon Crop G enetics International Corp. $.10 par com m on, $.95 convertible exchangeable preferred Cytorad Incorporated » Units (expire 0 1 -3 1 -9 7 ) Dibrell Brothers, Inc. $1 .0 0 par common D ollar General Corporation $.50 par com mon Drew Industries Incorporated $.01 par com m on Energynorth, Inc. $1.00 par common Equicredit Corporation $.01 par com mon F idelity New York F.S.B . $.01 par com mon First Colonial Bankshares (Illinois) Class A, $ 1 .2 5 par com m on, No par Despoitary Shares First N ational Bank Corp. (Michigan) $3,125 par common Firstock Bancorp, Inc. (Illinois) $.01 par com m on Furon Company No par com mon General Computer Corporation $.10 par com m on Great Bay Bankshares, Inc. (New Hampshire) $.10 par com m on Great Lakes Bancorp, a Federal Savings - Bank $.01 par com m on Gw innett Bancshares, Inc. (Georgia) $ 1 .0 0 par com mon Hamilton Bancorp, Inc. (New York) $.01 par com m on Healthy Planet Products Inc. $.01 par com m on Huntco Inc. Class A, $.01 par common Isom edix Inc. $.01 par com m on Kankakee Bancorp, Inc. (Illinois) $.01 par com m on LF Bancorp, Inc. (M ississippi) $.01 par com m on Magma Pow er Company $.1 0 par com m on M ayflower Group, Inc. No par com m on Megahertz Corporation $ .0 0 4 par com m on M itek Surgical Products, Inc. Federal Register 7 Vol. 60, No. 78 / Monday, April 24, 1995 / Rules and Regulations $.01 par com m on Morgan Group, Inc., The Class A, $.015 par com m on Namic U .S.A . Corporation $.01 par com m on NBSC Corporation $2.50 par com mon Network System s Corporation $.02 par com m on New England Business Service, Inc. $ 1.00 par com m on Plaza Home Mortgage Corporation $.01 par com m on PMC Com m ercial Trust Shares of b eneficial interest Polym edica Industries, Inc. $.01 par com m on Powersoft Corporation $ .00167 par com m on Public Service Company of North Carolina $ 1.00 par com mon Pyramid Technology Corporation $.01 par com m on QVC Inc. $.01 par com m on Radiation Care, Inc. $.01 par com m on Scim ed Life System s, Inc. $.05 par com m on Sonoco Products Company No par com m on Series A, cum ulative convertible preferred Southern Starr Broadcasting Group, Inc. $.01 par com m on State Street Boston Corporation $ 1.00 par com m on Tidemark Bancorp Inc. (Virginia) $.01 par com m on Tom kins PLC Am erican Depositary Receipts U.S. Can Corporation $.01 par com m on United States Paging Corporation $.01 par com m on University Bank & Trust Company (California) $2.50 par com m on Vestar, Inc. $.01 par com m on W ebco Industries, Inc. $.01 par com m on W elbilt Corporation $.01 par com m on W est Coast Bancorp (California) No par com m on W isconsin Pharm acal Co., Inc. $.01 par com m on Additions to the List of Marginable OTC Stocks Access Healthnet, Inc. $.001 par com mon A ct Manufacturing, Inc. $.01 par common ADCO Technologies, Inc. $.01 par com m on Aegis Consum er Funding Group, The $.01 par com m on Am erican Bancorp o f Nevada $.05 par com m on Am es Department Stores, Inc. $.01 par com mon W arrants (expire 0 1 -3 1 -9 9 ) Ampace Corporation $.0001 par com mon Analytical Surveys, Inc. No par com mon ASM Lithography Holding N.V. Ordinary Shares A T S M edical Inc. W arrants (expire 0 3 -0 9 - 9 7 ) Avondale Financial Corporation $.01 par com mon Bank W est F inancial Corporation $.01 par com mon BCT International Inc. $.04 par com mon Benihana National Corp. Class A, $ .1 0 par com mon Bio-Reference Laboratories, Inc. $.001 par com mon Bio-Technology General Corporation W arrants (expire 1 2 -3 1 -9 8 ) Bridgeville Savings Bank, FSB (Pennsylvania) $.10 par com m on Brooks Autom ation, Inc. $.01 par com m on Burke M ills, Inc. No par com m on C *A T S Software Inc. $.001 par com m on Cameron F inancial Corporation $.01 par com m on Cardinal Realty Services, Inc. No par com m on Carrington Laboratories, Inc. $.01 par com m on CBT Group PLC Am erican Depositary Receipts C hief Consolidated M ining Company $.5 0 par com m on Coastwide Energy Services, Inc. $.01 par com m on Coin B ill Validator, Inc. $.01 par com m on Commonwealth Alum inum Corporation $.01 par com m on Concentra Corporation $.00001 par com m on Continental C ircuits Corporation $.01 par com m on Corporate Renaissance Group, Inc. $.01 par com m on Creative Computers, Inc. $.001 par com m on Creative Technologies Corporation $.03 par com m on Cytogen Corporation Rights (expire 0 1 -3 1 - 9 7 ) W arrants (expire 0 1 -3 1 - 9 7 ) Daisytek International Corporation $.01 par com m on Datastream System s, Inc. $.01 par com m on Diamond M ultim edia System s, Inc. 20007 No par com mon Dualstar Technologies Corporation $.01 par com m on Class A, warrants (expire 0 2 -1 4 -2 0 0 0 ) Easco Inc. No par com mon Equalnet Holding Corporation $.01 par com mon Equus Gaming Company L.P. Class A, units representing beneficial ownership Expert Software Inc. $.01 par com mon Finlay Enterprises, Inc. $.01 par com mon First Federal Bancorp, Inc. (Ohio) No par com mon First Keystone F inan cial Inc. $.01 par com m on First Southern Bancshares Inc. No par com mon First United Bancorporation $1.67 par com m on Firstar Corporation Am erican Depositary Shares Firstfederal Fin an cial Services Corp. Series B, 6 V2% no par cumulative convertible preferred Fort Howard Corporation $.01 par com mon Fountain Oil Incorporated $.10 par com m on Garden State Bancshares, Inc. (New Jersey) No par com m on General A cceptance Corporation No par com mon General M agic, Inc. $.001 par com m on Globalstar Telecom m unications, Ltd. $ 1 .0 0 par com m on Guaranty Federal Savings Bank $ 1 .0 0 par com m on Hain Food Group, In c., The $.01 par com m on HCIA, Inc. $.01 par com m on Hello Direct, INC. $.001 par com m on Hictory T ech Corporation No par com m on Home Bancorp (Indiana) No par com m on Independence Bancorp, Inc. (New Jersey) $1 ,6 6 7 par com m on Inform ation Storage Devices, Inc. No par com m on Insight Enterprises, Inc. $.01 par com m on Integrated S ilico n Solution, Inc. $.0001 par com m on Interface, Inc. W arrants (expire 0 6 -3 0 -9 5 ) International Nursing Service 12% cum ulative convertible preferred ISB Financial Corporation $ 1 .0 0 par com m on Kelly O il & Gas Corporation 20008 Federal Register / Vol. 60, No. 78 / Monday, April 24, 1995 / Rules and Regulations $.01 par com mon $2,625 convertible exchangeable preferred Krug International Corp. Warrants (expire 0 1 -2 7 -9 8 ) LSB Financial Corporation $.01 par com m on Medpartners, Inc. $.001 par com mon Monterey Bay Bancorp, Inc. $.01 par com mon Mountbatten, Inc. $.001 par com mon Mustang Software, Inc. No par com mon Nastech Pharm aceutical Company Inc. $.006 par com m on National Instrum ents Corporation $.01 par com mon Neopath, Inc. $.01 par com m on NTN Canada, Inc. $.07 par com mon Oak Technology, Inc. $.001 par com mon Open Environm ent Corporation No par common Ostex International Inc. $.01 par com m on P-C O M , Inc. $.0001 par com mon Pacific Basin Bulk Shipping Ltd. $.7327 par com mon Warrants (expire 0 9 -3 0 - 9 9 ) Palmer W ireless, Inc. Class A, $.01 par com m on Periphonics Corporation $.01 par com m on Prem isys Com m unications, Inc. $.01 par com mon QCF Bancorp, Inc. (M innesota) $.01 par com mon Remedy Corporation $.00005 par com mon Renaissance Solutions, Inc. $.001 par com mon Renters Choice Inc. $.01 par com mon Riviana Foods Inc. $1.00 par com m on SDL, Inc. $.001 par com mon Select Media Com m unications, Inc. $.001 par com mon Sem itool, Inc. No par com mon Sem tech Corporation $.01 par com mon Sirrom Capital Corporation No par com mon Software Artistry, Inc. No par com mon South Carolina Community Bancshares, Inc. $.01 par com mon Springfield Institution for Savings $1.00 par com mon STB System s, Inc. $.01 par com m on Strattec Security Corporation $.01 par com m on Sure Shot International, Inc. $.01 par com m on TGV Software, Inc. $.001 par com m on Third Financial Corporation $.01 par com mon Thrustm aster, Inc. No par com mon Tivoli System s Inc. $.01 par com m on Transaction System s A rchitects Inc. Class A, $.005 par com m on Tylan General Inc. $.001 par com mon Uniholding Corporation $.01 par com m on Uniroyal Chem ical Corporation $.01 par com m on U S Office Products Company $.001 par com m on Vari-L Company, Inc. $.01 par com m on Viasoft, Inc. $.001 par com mon V ideo'Sentry Corporation $.01 par com m on Videotron Holdings, PLC A m erican Depositary Receipts W ebster City Federal Savings Bank (Iowa) $ .1 0 par com m on W ells Financial Corporation $ .1 0 par com m on Deletion From the List of Foreign Margin Stocks H itachi Sales Corporation ¥ 50 par com m on Additions to the List of Foreign Margin Stocks A llianz Holdings AG Registered, par DM 50 B a sf AG Holding Ordinary, par DM 50 Bayer AG Ordinary, par DM 50 Bayerische M otoren W erke AG Ordinary, par DM 50 B eiersdorf AG Ordinary, par DM 50 Commerzbank AG Bearer, par DM 50 D eutsche Bank AG Ordinary, par DM 50 Gehe AG Ordinary, par DM 50 H enkel KGAA-VORZUG Preference, par DM 50 Hoechst AG Ordinary, par DM 50 M annesm ann AG Ordinary, par DM 50 M uenchener Rueckversicherungs Registered, par DM 100 S.A .P. AG Preference, par DM 50 Schering AG Ordinary, par DM 50 Volkswagen AG Ordinary, par DM 50 By order of the Board o f Governors of the Federal Reserve System , acting by its Director of the D ivision of Banking Supervision and Regulation pursuant to delegated authority (12 CFR 265.7(f)(10)), April 18, 1995. W illiam W. W iles, Secretary o f the Board. [FR Doc. 95-10018 Filed 4 -2 1 -9 5 ; 8:45 am) BILLING CODE 6210-01-P