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Federal R eserve Bank OF DALLAS W ILLIAM H. W ALLACE FIRST VIC E PR E S ID E N T November 16 , 1990 d a lla s , te x a s 75222 AN D CH IE F O P ER ATIN G O FFICER Circular 90-84 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 revised the list of over-the-counter (OTC) stocks that are subject to its margin regula tions, effective November 13, 1990. 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 13, 1990, is avail able from the Public Affairs Department of this Bank upon request. Included with the list is a revised listing of foreign margin stocks. The foreign margin stocks listed are foreign equity securities now eligible for margin treatment at broker-dealers. ATTACHMENT Attached is a copy of the Federal Register announcement of revisions to the list of OTC stocks as shown on pages 46040-44, Vol. 55, No. 212, dated November 1, 1990. Also included are additions to the listing of foreign margin stocks. M RE INFORMATION O For more information regarding marginable OTC stock requirements, please contact Dean A. Pankonien at (214) 651-6228. For copies of the com plete list or additional copies of this circular, please contact the Public Affairs Department at (214) 651-6289. Sincerely yours, For additional copies of any circular, please contact the Public Affairs Department at (214) 651-6289. Bankers and others are encouraged to use the following toll-free number in contacting the Federal Reserve Bank of Dallas: (800) 333-4460. This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) 46040 Federal Register / Vol. 55, No. 212 / Thursday, November 1, 1990 / Rules and Regulations o f the Federal Reserve S ystem to be subject to the margin requirements under certain Federal Reserve regulations. The List of Foreign Margin Stocks (Foreign List) represents all 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 docum ent sets forth additions to or deletions from the OTC List and additions to the Foreign List previously published and effective on August 13,1990. EFFECTIVE d a t e : N ovem ber 13,1990. FOR FURTHER INFORMATION CONTACT: 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 o f the Federal R eserve System. a c t i o n : Final rule; determ ination of applicability of regulations. SUMMARY: The List of M arginable OTC Stocks (OTC List) is com prised o f stocks traded over-the-counter (OTC) in the United States that have been determ ined by the Board of Governors Peggy Wolffrum, Securities Regulation A nalyst, D ivision o f Banking Supervision and Regulation, (202) 4522781, Board o f Governors o f the Federal Reserve System , W ashington, DC 20551. For the hearing impaired only, Earnestine Hill or Dorothea Thompson, Telecom m unications D evice for the D eaf (TDD) (202) 452-3544. SUPPLEMENTARY INFORMATION: Two categories of stock information are listed below . The first group represents additions to or deletions from the OTC List. This su p ersedes the last OTC List w hich w a s effective A ugust 13,1990. A dditions and deletion s to the OTC List w ere published on August 2,1 9 9 0 (55 FR 31367). A copy of the com plete OTC List incorporating these additions and deletions is available from the Federal Reserve Banks. T he OTC List includes those stocks that m eet the criteria in Regulations G, T and U (12 CFR parts 207, 220 and 221, respectively). This determination also affects the applicability o f Regulation X (12 CFR part 224). T hese stocks have the degree o f 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 sam e fashion as exchange-traded securities. The OTC List also includes any OTC stock designated under a Securities and Exchange Com m ission (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 b etw een the Board's quarterly publications. T hey w ill becom e autom atically marginable at brokerdealers upon the effective date of their NMS designation. The nam es o f these stocks are availab le at the Board and the SEC and w ill b e incorporated into the Board's n ex t quarterly publication of the OTC List. The secon d group o f securities, represents additions to the Board's Foreign List that are n o w eligible for margin treatment at broker-dealers pursuant to a recent am endm ent to Regulation T (12 CFR Part 220). (See Federal Register of March 27,1990, at page 11158 for Board action.) T hese additional foreign equity securities have met the Board's requirements pursuant to Regulation T and are n o w eligible for margin at broker-dealers on the sam e b a sis as dom estic margin securities. A copy of the com plete Foreign List incorporating these additions is available from the Reserve Banks. Public Comment and Deferred Effective Date The requirements o f 5 U.S.C. 553 with respect to notice and public participation w ere not follow ed in connection w ith the issu an ce o f this am endm ent due to the objective character o f 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). N o additional useful information w ould be gained by public participation. The full requirements of 5 U.S.C. 553 w ith respect to deferred effective date have not been follow ed in connection w ith the issu an ce of this amendm ent b eca u se the Board finds that it is in the public interest to facilitate investm ent and credit d ecision s b a se d in w h o le or in part upon the com position of th ese Lists as soon as possible. The Board has responded to a request by the public and allow ed a tw o -w eek delay before the Lists are effective. List o f Subjects 12 CFR P a rt 207 Banks, Banking, Credit, Federal Reserve System , Margin, Margin requirements, Investments, National Market S ystem (NMS Security), Reporting and recordkeeping requirements, Securities. 12 CFR P a rt 220 Banks, Banking, Brokers, Credit, Federal Reserve System , Margin, Margin requirements, N ational 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, C redit Federal Reserve System , Margin, Margin Federal Register / Vol. 55, No. 212 / Thursday, November 1, 1990 / Rules and Regulations requirements, Reporting and recordkeeping requirements, Securities. Accordingly, pursuant to the authority o f section s 7 and 23 of the Securities Exchange A ct of 1934, as am ended (15 U.S.C. 78g and 78w), and in accordance w ith 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 b elo w a listing of deletions from and additions to the OTC List; and the additions to the Foreign List. Fleet Aerospace, Inc. $.01 par common Fulton Federal Savings Bank $1.00 par common General Building Products Corporation $.05 par common HEI Corporation $.10 par common Heritage Financial Corporation $.90 par cumulative convertible preferred Independence Federal Savings Bank $.01 par common Institute of Clinical Pharmacology, PLC American Depositary Receipts for non restricted B shares (nominal value FIN Deletions From the List of Marginable OTC Stocks Jesup Group Inc., The $.01 par common Microwave Laboratories, Inc. $.01 par common Novell, Inc. 7Vi% convertible subordinated debentures Osicom Technologies, Inc. $.01 par common Pacesetter Homes, Inc. $.01 par common Questech, Inc. $.05 par common Retailing Corporation of America $1.00 par common S.P.I.-Suspension and Parts Industries Limited Ordinary shares, IS 250 par value SFE Technologies $.1.00 par common Sructofab. Inc. $.02 par common SUNF, Inc. $.50 par common Symbion, Inc. $.01 par common Syntech International, Inc. $.10 par common Tele-Optics, Inc. $.01 par common United Savings Bank (Virginia) $5.00 par common Vikonics, Inc. $.02 par common Vinland Property Trust No par shares of beneficial interest Vista Organization Partnership, L.P., The Depositary units of limited partnership interest Walker Telecommunications Corporation $.01 par common Wall to Wall Sound and Video, Inc. $.01 par common Washington Bancorporation (Washington, D.C.) $2.50 par common Western Microwave, Inc. $.10 par common Williams, A.L., Corporation, 7.25% convertible subordinated debentures World-Wide Technology, Inc. $.01 par common Stocks Removed For Failing Continued Listing Requirements Action Auto Stores, Inc. No par common Airship Industries Limited American Depositary Receipts representing 80 ordinary shares A1 Copeland Enterprises, Inc. Series 1,17.5% exchangeable preferred Altus Bank, a Federal Savings Bank (Alabama) $.01 par common American Film Technologies, Inc. W arrants (expire 06-30-93) Anthony, Michael Jewelers, Inc. $.001 par common ASTEC Industries, Inc. W arrants (expire 12-29-91) BANC One Corporation Series B, no par convertible preferred Beauty Labs, Inc. $.01 par common Brookfield Bancshares Corporation $1.00 par common Brooklyn Savings Bank, The $1.00 par common Capital Bancorporation $.55% par common Care Plus, Inc. Class A, W arrants (expire 08-13-90) CCAIR, Inc. $.01 par common Chemfix Technologies, Inc. W arrants (expire 12-15-90) Codenoll Technology Corporation W arrants (expire 09-10-90) Community Financial Corporation $.01 par common Coral Gold Corporation No par common Cosmo Communications Corporation $.01 par common Country Wide Transport Services, Inc. $.01 par common CPT Corporation $.05 par common 10% convertible subordinated debentures DST Systems, Inc. $.01 par common Eliot Savings Bank (Massachusetts) $.10 par common First Citizens Bancshares, Inc. Class B, $1.00 par common First Executive Corporation W arrants (expire 11-15-90) First Savings Bank, F.S.B. (New Mexico) $1.00 par common 20) Stocks Removed for Listing on a National Securities Exchange Or Being Involved in an Acquisition Altos Computer System No par common Bio-Medicus, Inc. $.01 par common Biotech Research Laboratories, Inc. 46041 $.01 par common Bogert Oil Company $.10 par common Cadence Design Systems, Inc. $.01 par common Carolina Bancorp, Inc. $1.00 par common Church & Swight Co., Inc. $1.00 par common CII Financial, Inc. No par common Diagnostek, Inc. $.01 par common Dycom Industries, Inc. $.33 Vs par common Epsilon Data Management, Inc. $.01 par common Fidelity Federal Savings Bank (Indiana) $.01 par common Finnigan Corporation $.01 par common First Home Federal Savings and Loan Association (Florida) $100 par common Florida Public Utilities Company $1.50 par common Greenery Rehabilitation Group, Inc. $.01 par common Henley International, Inc. $.001 par common Integon Corporation $1.00 par common Intellicall, Inc. $.01 par common International Lease Finance Corp. $.01 par common W arrants (expire 1994) JMB Realty Trust No par shares of beneficial Mack Trucks, Inc. $1.00 par common Martin Lawrence Limited Editions $.001 par common Mid-America Bancorp No par common Mountain West Savings Bank F.S.B. $1.00 par common Mutual Federal Savings And Loan Association (North Carolina) $1.00 par common Mutual Federal Savings Bank, A Stock Corp. (Ohio) $1.00 par common National Media Corporation $.10 par common North-West Telecommunications, Inc. $5.00 par common Old Republic International Corp. $1.00 par common Pennview Savings Association $1.00 par common Pharmacia AB American Depository Receipts for nonrestricted B shares (par value Skr 10) Primebank, Federal Savings Bank (Michigan) $1.00 par common Shelby Federal Saving Bank (Indiana) $1.00 par common Stockholder Systems, Inc. Class A, $.05 par common Subaru of America, Inc. $.01 par common Summa Medical Corporation $.01 par common Tecogen, Inc. 46042 Federal Registei / Vol. 55, No. 212 / Thursday, November 1, 1990 / Rules and Regulations $.10 par common UTL Corporation $.25 par common W ebster Clothes. Inc. $.01 par common Additions to the List of Marginable OTC Stocks Advanced Logic Research, Inc. $.01 par common Allied Clinical Laboratories, Inc. $.01 par common American Business Computers Corporation $.01 par common Arcus, Inc. $.01 par common Astrocom Corporation $.10 par common Bird Medical Technologies, Inc. $.01 par common Canyon Resources Corporation W arrants (expire 12-31-94} Capitol Bancorp Ltd. No par common Circuit Systems, Inc. No par common CMS/Data Corporation $.01 par common Coho Resources, Inc. $.01 par common Deprenyl Research Limited No par common Dreco Energy Services Ltd. Class A, no par common DVI Financial Corporation $.005 par common Easel Corporation $.01 par common ESB Bancorp, Inc. $1.00 par common Failure Group, Inc., The $.001 par common Gerrity Oil & Gas Corporation $.01 par common Grant-Norpac, Inc. $.002 par common Helix Biocore, Inc. $.01 par common High Plains Corporation $.10 par common IKOS Systems, Inc. $.01 par common Illinois Central Corporation $.001 par common In-Store Advertising, Inc. $.01 par common Keene Corporation $.0001 par common London International Group PLC American Depositary Receipts Lunar Corporation $.01 par common Marcam Corporation $.01 par common Matrix Service Company $.01 par common Meca Software, Inc. $.01 par common Medical Management of America, Inc. $.01 par common Micrografx, Inc. $.01 par common Modtech, Inc. $.01 par common Molex Incorporated Class A, $.05 par common NDE Environmental Corporation $.0001 par common Nord Pacific Limited $.01 par common O'Charley’s Inc. No par common Orthopedic Services, Inc. $.01 par common Park National Corporation $6.25 par common Pinnacle Banc Group, Inc. $6.25 par common Radius Inc. No par common Republic Health Corporation $.01 par common Republic W aste Industries, Inc. $.01 par common Rocky Mountain Helicopters, Inc. $.02 par common Security Savings Bank, FSB $1.00 par common Southmark Corporation $.01 par common Class A, $.01 par convertible preferred Suburban Bankshares, Inc. (Florida) Class A, $.10 par common Sylvan Foods Holdings, Inc. $.001 par common Tinsley Laboratories, Inc. No par common Trimble Navigation Limited No par common Uranium Resources, Inc. $.001 par common Warrants (expire 02-26-94) Vanguard Real Estate Fund II No par shares of beneficial interest VISX, Incorporated No par common Vital Signs, Inc. No par common Warrantech Corporation $.0007 par common Westwood One, Inc. Warrants (expire 09-04-97) Additions to the List of Foreign Margin Stocks Abbey National PLC Ordinary shares, par value 10 p All Nippon Airways Co., Ltd. Y 50 par common Allied Lyons PLC Common, par value 25 p Argyl Group PLC Ordinary shares, par value 25 p Asahi Breweries Y 50 par common Asahi Chemical Industry Y 50 par common Asahi Glass Co., Ltd. Y 50 par common ASDA Group PLC Ordinary shares, par value 25 p Associated British Foods PLC Ordinary shares, par value 5 p B.A.T. Industries Ltd. PLC Ordinary shares 25 p Barclays Bank PLC Common, par value 100 p Bass PLC Ordinary shares, par value 25 p Bet PLC Common, par value 25 p Bicc PLC Ordinary shares, par value 50 p Blue Circle Industries PLC Common, par value 50 p BOC Group PLC Common, par value 25 p Boots Company PLC, The Common, par value 25 p BPB Industries PLC Ordinary shares, par value 50 p Bridgestone Corporation Y 50 par common British Airways PLC Ordinary shares, par value 25 p British Petroleum Company PLC Ordinary shares, par value 25 p British Sieel PLC Common, par value 50 p British Telecommunications PLC Common, par value 25 p BTR PLC Common, par value 25 p Burmah Oil PLC, The Common, par value 100 p C. Itoh Fuel Company Ltd. Y 50 par common Cable & Wireless PLC Ordinary shares, par value 50 p Cadbury Schweppes PLC Ordinary shares, par value 25 p Carlton Communications PLC Common, par value 5 p Commercial Union Assurance Company PLC Ordinary shares, par value 25 p Courtaulds PLC Common, par value 25 p DAI Nippon Printing Y 50 par common DAI-ICHI Kangyo Bank Ltd. Y 50 par common Denki Kagaku Kogyo Y 50 par common DOWA Mining Y 50 par common Ebara Corporation Y 50 par common Enterprise Oil PLC Ordinary shares, par value 25 p Fisons PLC Common, par value 25 p Fuji Bank Ltd. Y 50 par common Fuji Electric Company Ltd. Y 50 par common Fujita Corporation Y 50 par common Fujitsu Ltd. Y 50 par common Furukawa Y 50 par common Furukawa Electric Company Ltd. Y 50 par common Federal Register / Vol. 55, No. 212 / Thursday, November 1, 1990 / Rules and Regulations General Accident Fire & Life Assurance Corp. PLC Common, par value 25 p GKN PLC Common, par value 100 p Glaxo Holdings PLC Common, par value 50 p Great Universal Stores PLC “A" Ordinary shares (non-voting), par value 25 p Guardian Royal Exchange PLC Ordinary shares, par value 5 p Hammerson Property Investment and Development Corp. PLC Common, par value 25 p Hanson PLC Ordinary shares, par value 25 p Harrisons and Crosfield PLC Common, par value 25 p Hawker Siddeley Group PLC Common, par value 25 p Hillsdown Holdings PLC Ordinary shares, par value 10 p Hino Motors Ltd. Y 50 par common Honda Motor Company Ltd. Y 50 par common Imperial Chemical Industries PLC Common, par value 100 p Ishikawajima-Harima Heavy Industries Company Ltd. Y 50 par common Isuzu Motors Ltd. Y 50 par common Japan Steel Works Y 50 par common Jujo Paper Company Ltd. Y 50 par common Kajima Corporation Y 50 par common Kanebo Ltd. Y 50 par common Kansai Electric Power Company Inc. Y 500 par common Kawasaki Heavy Industries Ltd. Y 50 par common Kawasaki Kisen Y 50 par common Kawasaki Steel Corporation Y 50 par common Keihin Electric Express Railway Y 50 par common Keio Teito Electric Railway Y 50 par common Keisei Electric Railway Y 50 par common Kikkoman Y 50 par common Kingfishet PLC Ordinary shares, par value 25 p Kirin Brewery Company Ltd. Y 50 par common Kobe Steel Y 50 par common Konica Corporation Y 50 par common Koyo Seiko Y 50 par common Kubota Corporation Ltd. Y 50 par common Kuraray Company Ltd. Y 50 par common Kyowa Hakko Kogyo Company Ltd. Y 50 par common Ladbroke Group PLC Ordinary shares, par value 10 p Land Securities PLC Common, par value 100 p Lasmo PLC Common, par value 25 p Legal and General Group PLC Common, par value 25 p Lloyds Bank PLC Common, par value 100 p Lonrho Ltd. PLC Ordinary shares, par value 25 p Lucas Industries PLC Ordinary shares, par value 100 p Marks & Spencer PLC Ordinary shares, par value 25 p Marubeni Corporation Y 50 par common Matsuzakaya Y 50 par common Maxwell Communication Corporation PLC Ordinary shares, par value 25 p Mazda Motor Corporation Y 50 par common Meidensha Electric Y 50 par common Meiji Milk Products Y 50 par common Meiji Seika Kaisha Ltd. Y 50 par common Mepc PLC Common, par value 25 p Midland Bank PLC Ordinary shares, par value 100 p Mitsubishi Corporation Y 50 par common Mitsubishi Electric Corporation Y 50 par common Mitsubishi Estate Company Ltd. Y 50 par common Mitsubishi Heavy Industry Ltd. Y 50 par common Mitsubishi Kaisei Corporation Y 50 par common Mitsubishi Metal Corporation Y 50 par common Mitsubishi Oil Company Ltd. Y 50 par common Mitsubishi Paper Mills Y 50 par common Mitsubishi Rayon Company Ltd. Y 50 par common Mitsubishi Steel Manufacturing Y 50 par common Mitsubishi Trust &Banking Corporation Y 50 par common Mitsubishi W arehouse & Transportation Y 50 par common Mitsui & Co. Ltd. Y 50 par common Mitsui Mining & Smelting Company Ltd. Y 50 par common Mitsui OSK Lines Ltd. Y 50 par common Mitsui Real Estate Development Company Ltd. Y 50 par common Mitsui Taiyo Kobe Bank Y 50 par common Mitsui Toatsu Chemicals Y 50 par common Mitsui Trust and Banking Company Ltd. Y 50 par common Morinaga and Company Y 50 par common Nachi-Fujikoshi Y 50 par common National Westminister Bank PLC 4GG43 Common, par value 100 p Navix Line Y 50 par common NGK Insulators Y 50 par common Nichirei Corporation Y 50 par common Nihon Cement Y 50 par common Niigata Engineering Y 50 par common Nikko Securities Company Ltd. Y 50 par common Nikon Corporation Y 50 par common Nippon Beet Sugar Manufacturing Y 50 par common Nippon Denso Y 50 par common Nippon Kayaku Company LTD. Y 50 par common Nippon Light Metal Company Ltd. Y 50 par common Nippon Mining Company Ltd. Y 50 par common Nippon Oil & Fats Y 50 par common Nippon Oil Company Ltd. Y 50 par common Nippon Seiko. Y 50 par common Nippon Sharyo Seizo Y 50 par common Nippon Sheet Glass Company Ltd. Y 50 par common Nippon Shinpan Company Ltd. Y 50 par common Nippon Steel Corporation Y 50 par common Nippon Suisan Y 50 par common Nippon Yusen Y 50 par common Nissan Motors Y 50 par common Nisshin Flour Milling Company Ltd. Y 50 par common Nisshin Oil Mills Y 50 par common NKK Corporation Y 50 par common Noritake Y 50 par common NTN Toyo Bearing Company Ltd. Y 50 par common Obayashi Y 50 par common Odakyu Electric Railway Y 50 par common OJI Paper Company Ltd. Y 50 par common OKI Electric Industry Company Inc. Y 50 par common Okuma Machinery Works Ltd. Y 50 par common Onoda Cement Company Ltd. Y 50 par common Osaka Gas Company Ltd. Y 50 par common Pearson PLC Ordinary shares, par value 25 p Peninsular and Oriental Steam Navigation Company (Deferred Stock) Ordinary shares, par value 100 p 46044 Federal Register / Vol. 55, No. 212 / Thursday, November 1, 1990 / Rules and Regulations Pilkington PLC Common, par value 50 p Prudential Corporation PLC Common, par value 5 p Rank Organization PLC Ordinary shares, par value 25 p Ranks Hovis McDougall PLC Common, par value 25 p Rer-kitt and Colman PLC Ordinary shares, par value 25 p Redland PLC Common, par value 25 p Reed International PLC Common, par value 25 p Reuters Holdings PLC Common, par value 10 p RMC Group PLC Common, par value 25 p Rolls Royce PLC Ordinary shares, par value 20 p Rothmans International PLC Common, par value lZ-Vz p Royal Bank of Scotland Group PLC Ordinary shares, par value 25 p Royal Insurance PLC Common, par value 25 p RTZ Corporation, The Common, par value 10 p Sainsbury, J. PLC Ordinary shares, par value 25 p Sankyo Company Ltd. Y 50 par common Sanyo Electric Company Y 50 par common Sanyo-Kokusaku Pulp Y 50 par common Sapporo Breweries Y 50 par common Sato Kogyo Company Ltd. Y 50 par common Scottish Newcastle Breweries PLC Ordinary shares, par value 20 p Sears Holdings PLC Ordinary shares, par value 25 p Sharp Corporation Y 50 par common Shell Transport & Trading Company PLC Ordinary shares, p ar value 25 p Shimizu Corporation Y 50 par common Shinetsu Chemical Company, Ltd. Y 50 par common Shochiku Y 50 par common Showa Denko K.K. Y 50 par common Showa Electric Wire Y 50 par common Showa Line Ltd. Y 50 par common Showa Shell Oil Y 50 par common Smith & Nephew Associated Company PLC Ordinary shares, par value 10 p Smithkline Beecham PLC “A” Ordinary shares, par value 25 p Standard Chartered Group PLC Ordinary shares, par value 100 p STC PLC Common, par value 25 p Sumitomo Bank Ltd. Y 50 par common Sumitomo Cement Company Ltd. Y 50 par common Sumitomo Chemical Company Ltd. Y 50 par common Sumitomo Corporation Y 50 par common Sumitomo Electric Industries Ltd. Y 50 par common Sumitomo Metal Industries Y 50 par common Sumitomo Metal Mining Company Ltd. Y 50 par common Sun Alliance Group PLC Ordinary shares, par value 25 p Suzuki Motor Company Ltd. Y 50 par common Taisho Marine & Fire Insurance Company Ltd. Y 50 par common Takara Shuzo Y 50 par common Takashimaya Company Ltd. Y 50 par common Takeda Chemical Industries Ltd. Y 50 par common Tarmac PLC Common, par value 50 p Taylor Woodrow PLC Common, par value 25 p Teijin Ltd. Y 50 par common Teikoku Oil Y 50 par common Tekken Construction Y 50 par common Tesco PLC Ordinary shares, par value 5 p Thames W ater PLC Ordinary shares, par value 100 p Thorn EMI PLC Common, par value 25 p Tobu Railway Company Ltd. Y 50 par common Tokio Marine & Fire Insurance Company Ltd. Y 50 par common Tokyo Department Store Y 50 par common Tokyo Electric Power Company Incorporated Y 500 par common Tokyo Gas Company Ltd. Y 50 par common Tonen Corporation Y 50 par common Toray Industries, Inc. Y 50 par common Toshiba Corporation Y 50 par common Tosoh Corporation Y 50 par common Toto Ltd. Y 50 par common Toyo Seikan Y 50 par common Toyobo Company Ltd. Y 50 par common Trafalgar House PLC Common, par value 20 p Trusthouse Forte PLC Common, par value 25 p TSB Group PLC Common, par value 25 p UBE Industries Y 50 par common Ultramar PLC Ordinary shares, par value 25 p Unilever PLC Ordinary shares, par value 5 p United Biscuits Holdings PLC Ordinary shares, par value 25 p Unitika Y 50 par common Whitbread & Company PLC Common, par value 25 p Yasuda Fire & Marine Insurance Company Ltd. Y 50 par common Yokogawa Electric Corporaiton Y 50 par common Yokohama Rubber Company Ltd. Y 50 par common Yuasa Battery Y 50 par common 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)), October 26,1990. William W. Wiles, Secretary o f the Board. [FR Doc. 90-25854 Filed 10-31-90; 8:45 am] BILLING CODE 6210-01-M
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