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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
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