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Federal R eserve Bank
OF DALLAS
ROBERT

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

August 15, 1991

P R E S ID E N T
AND

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

DALLAS, TEXAS 7 5 2 2 2

O F F IC E R

Notice 91-69
TO:

The C hief Executive Officer of each
m e mber 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 S y stem has revised the
list of over - t h e - c o u n t e r (OTC) stocks that are subject to its margin r e g u l a ­
tions, effective August 12, 1991.
The Board publishes a complete list four
times a year, and the Federal Register announces additions to and deletions
from the 1 ist.
The complete list of OTC stocks as of August 12, 1991, 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.
A TTACHMENT
A t tached is a copy of the Federal Register announcement of revisions
to the list of OTC stocks as shown on pages 35805-8, Vol. 56, No. 145, dated
July 29, 1991.
Also included are additions to the listing of foreign margin
stocks; there are no deletions.
MORE INFORMATION
For more information regarding m arginable OTC stock requirements,
please contact Dean A. Pankonien at (214) 651-6228.
For copies of the
complete list or additional copies of this B a n k ’s notice, please contact the
Public Affairs Department at (214) 651-6289.
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)

35805

Rules and Regulations

Federal Register
Vql. 50, No. 145
M onday, July 29, 1991

This section of the FEDERAL REGISTER
contains regulatory documents having
general applicability and legal effect, most
of which are keyed to and codified in
the Code of Federal Regulations, which is
published under 50 titles pursuant to 44
U.S.C. 1510.
The Code of Federal Regulations is sold
by the Superintendent of Documents.
Prices of new books are listed in the
first FEDERAL REGISTER issue of each
week.

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; Ust of
Foreign Margin Stocks
July 23,1991.
AGENCY: Board of Governors of the
Federal Reserve System.
a c t i o n : Final rule; determination of
applicability of regulations.

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
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 additions to the
previous Foreign List. Both Lists were
published on April 29,1991 (56 FR 19547}
and effective on May 13,1991.
EFFECTIVE DATE: August 12,1991.
su m m ary :

FOR FURTHER INFORMATION CONTACT:

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 w as effective May 13,
1991. Additions and deletions to the
OTC List were last published on April
29,1991 (56 FR 19547). 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 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.
The second group of securities
represents additions to the Board’s
Foreign List, which w as last published
April 29,1991 (56 FR 19547) and effective
May 13,1991. There are no deletions to
the Foreign List. 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 upon
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 List3 are
effective.
List of Subjects

12 CFR Part 207
Banks, Banking, Credit, Federal
Reserve System, Margin, Margin
requirements, National Market System
(NMS Security), Reporting and
recordkeeping requirements, Securities.
12 CFR Part 220
Banks, Banking, Brokers, Credit,
Federal Reserve System, Margin, Margin
requirements, Investments, National
Market System (NMS Security),
Reporting and recordkeeping
requirements, Securities.
12 CFR Part 221
Banks, Banking, Credit, Federal
Reserve System, Margin, Margin
requirements, National Market System
(NMS Security], Reporting and
recordkeeping requirements, Securities.
12 CFR Part 224
Banks, Banking, Borrowers, Credit,
Federal Reserve System, 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(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 additions to the Foreign List.
Deletions From the List of Marginable
OTC Stocks

Stocks R em oved fo r Failing Continued
Listing Requirem ents
Alcide Corporation
$.01 par common

35806

Federal Register / Vol. 56, No. 145 / Monday, July 29, 1991 / Rules and Regulations

Algorex Corporation
$.01 par common
Alloy Computer Products, Inc.
$.01 par common
Amoskeag Bank Shares, Inc.
$1.00 par common
Astrocom Corporation
$.10 par common
Barry Blau & Partners, Inc.
$.01 par common
Bell, W. & Co., Inc.
$.10 par common
Biogen, Inc.
$.01 par convertible, exchangeable
preferred
CF & I Steel Corporation
$5.00 par common
Citizens Growth Properties
$1.00 par shares of beneficial interest
Coca-Cola Enterprises, Inc.
W arrants (expire 07-10-91)
Duramed Pharmaceutical, Inc.
$.01 par common
E & B Marine Inc.
$.01 par common
Encore Computer Corporation
$.01 par common
Enstar Group, Inc., The
$.50 par common
Famous Restaurants Inc.
$.01 par common
Great American Management &
Investment, Inc.
$.01 par common
Healthco International, Inc.
$.05 par common
Helian Health Group Inc.
W arrants (expire 11-22-92)
Hemodynamics Incorporated
$.01 par common
International Broadcast Systems Inc,
Class A, $.001 par common
International Broadcasting Corporation
$.001 par common
Isomet Corporation
$1.00 par common
James Madison Limited
$1.00 par common
John Hanson Bancorp, Inc.
$1.00 par common
Metropolitan Federal Bank, a Savings
Bank (Tennessee)
$1.00 par common
Microscience International Corp.
No par common
Midwest Communications Corporation
$.01 par common
Moto Photo, Inc.
$.01 par common
$.01 par cumulative, convertible
preferred
W arrants (expire 11-25-91)
Mr. Gasket Company
No par common
Normandy Oil & Gas Company, Inc.
$.001 par common
Plymouth Five Cents Savings Bank
(Massachusetts)
$.10 par common

Profit Technology, Inc.
$.01 par common
Prospect Park Financial Corporation
$1.00 par common
Rax Restaurants, Inc.
$.10 par common
Seacoast Savings Bank (New
Hampshire)
$1.00 par common
Statewide Bancorp
$2.50 par common
Stratford American Corporation
$.01 par common
Tempest Technologies, Inc.
$.01 par common
Twin Star Productions, Inc.
$.001 par common
U.S. Gold Corporation
$.01 par common
Unigene Laboratories, Inc.
Class A, warrants (expire 08-11-92)
United Dominion Realty Trust
9% convertible subordinated
debentures
Valley Federal Savings & Loan
Association (California)
No par common
Workingmens Corporation
$.10 par common
Stocks R em oved fo r Listing on a
N ational Securities Exchange or Being
Involved in an Acquisition
Air Midwest, Inc.
No par common
Angeion Corporation
$.01 par common
Bancorp Hawaii, Inc.
$2.00 par common
Banks of Iowa, Inc.
No par common
Benton Oil and Gas Company
$.01 par common
Bizmart, Inc.
$.01 par common
Calgon Carbon Corporation
$.01 par common
Coca Mines Inc.
$.01 par common
W arrants (expire 05-05-94)
Continental Medical Systems, Inc.
$.01 par common
Critical Care America, Inc.
$.10 par common
Dataphaz, Inc.
$.001 par common
Eastchester Financial Corporation
$.01 par common
First Federal Savings Bank (Alabama)
$.01 par common
Hamilton Oil Corporation
$.25 par common
Inbancshares
No par common
Iowa Southern Inc.
$5.00 par common
Medical Management of America, Inc.
$.01 par common
Mission-Valley Bancorp (California)

No par common
NAPA Valley Bancorp
No par common
National Health Laboratories
Incorporated
$.01 par common
Provena Foods, Inc.
No par common
Royalpar Industries, Inc.
$.01 par common
W arrants (expire 01-20-92)
Sensormatic Electronics Corporation
$.01 par common
Sizzler Restaurants International, Inc.
$.01 par common
Southern Bankshares, Inc.
$2.50 par common
Tocor, Inc.
Units (expire 12-31-94)
United Banks of Colorado, Inc
$2.50 par common
Universal Health Service, Inc.
Class B, $.01 par common
US W est Newvector Group, Inc.
Class A, no par common
Vitalink Communications Corporation
$.01 par common
Vivigen, Inc.
$.01 par common
W avetek Corporation
$1.00 par common
Additions to the List of Marginable OTC
Stocks
Advanced Promotion Technologies, Inc.
$.01 par common
AES Corporation, The
$.01 par common
Air-Cure Environmental, Inc.
$.001 par common
Alpha 1 Biomedicals, Inc.
$.001 par common
American Biodyne, Inc.
$.01 par common
American Claims Evaluations, Inc.
$.01 par common
American Dental Laser, Inc.
$.01 par common
Applied Extrusion Technologies, Inc.
$.01 par common
Applied Immune Sciences, Inc.
$.01 par common
Artel Communications Corporation
Rights (expire 07-25-91)
Aspen Bancshares, Inc.
$.01 par common
Au Bon Pain Co., Inc.
Class A, $.0001 par common
Aura Systems, Inc.
$.005 par common
Automated Security (Holdings) PLC
American Depositary Receipts
Bertucci’s Inc.
$.005 par common
Bio-Technology General Corporation
$.01 par common
Biomedical Dynamics Corporation
No par common

Federal Register / Vol. 56, No. 145 / Monday, July 29, 1991 / Rules and Regulations
Bioplasty, Inc.
$.01 par common
Brooktree Corporation
No par common
BWIP Holding, Inc.
Class A, $.01 par common
Calloway’s Nursery, Inc.
$.01 par common
Cambridge Neuroscience Research, Inc.
$.001 par common
CBL Medical, Inc.
$.01 par common
W arrants (expire 12-21-93)
Centocor, Inc.
W arrants (expire 12-31-94)
7V*% convertible subordinated
debentures
Central Indiana Bancorp
No par common
Century Medicorp
No par common
Cephalon, Inc.
$.01 par common
Chemi-Trol Chemical Co.
No par common
Cherokee Inc.
$.01 par common
Chipcom Corporation
$.02 par common
Coastal Healthcare Group, Inc.
$.01 par common
Commerce Clearing House, Inc.
Class B, $1.00 par common
Cor Therapeutics, Inc.
$.0001 par common
Cragin Financial Corporation
$.01 par common
Curative Technologies Inc.
$.01 par common
Danek Group, Inc.
No par common
Devry Inc.
$.01 par common
Envoy Corporation
$1.00 par common
Filene's Basement Corporation
$.01 par common
First Federal Savings Bank of New
Smyrna
$1.00 par common
First Team Sports, Inc
$.01 par common
Fortis Corporation
$.0001 par common
Franklin Savings Bank, FSB (Michigan)
Series A, no par noncumulative
convertible preferred
Future Now, Inc., The
No par common
Genelabs Technologies, Inc.
No par common
General Kinetics Incorporated
$.25 par common
Genesis Health Ventures. Inc.
$.02 par common
Glycomed Incorporated
No par common
Hancock Holding Company
$3.33 par common

Hi-Lo Automotive, Inc.
$.01 par common
Homedco Group, Inc.
$.01 par common
Icos Corporation
$.01 par common
Idexx Laboratories, Inc.
$.01 par common
IHOP Corporation
$.01 par common
Immulogic Pharmaceutical Corporation
$.01 par common
Integated Circuit Systems, Inc.
No par common
Integrated Health Services, Inc.
$.001 par common
Interwest Savings Bank
$.20 par common
Isis Pharmaceuticals, Inc.
$.001 par common
Leslie’s Poolmart
No par common
Lifetime Hoan Corporation
$.01 par common
Machine Technology, Inc.
No par common
Marrow-Tech Incorporated
Class A, $.01 par common
Marsh Supermarkets, Inc.
Class B, no par common
Medarex, Inc.
$.01 par common
W arrants (expire 06-19-96)
Medimmune, Inc.
$.01 par common
Moorco International Inc.
$.01 par common
Mylex Corporation
$.01 par common
OESI Power Corporation
$.01 par common
Osteotech, Inc.
$.01 par common
Otra Securities Group, Inc.
$.01 par common
Outback Steakhouse. Inc.
$.01 par common
Outlook Graphics Corporation
$.01 par common
OW Office Warehouse. Inc.
$.01 par common
Penril Datacomm Networks, Inc.
$.01 par common
Platinum Technology, Inc.
$.001 par common
Ponder Industries, Inc.
$.01 par common
Pope Resources
Depositary receipts representing
limited partnership units
Professional Care, Inc.
$.02 par common
Proteon, Inc.
$.01 par common
Pulse Engineering, Inc.
Class A, $.01 par common
Qual-Med, Inc.
$.01 par common
Quantum Health Resources, Inc.

35807

$.01 par common
Quarterdeck Office Systems, Inc.
$.0001 par common
Rag Shops, Inc.
$.01 par common
Regis Corporation
$.05 par common
Rehabcare Corporation
$.01 par common
Rentrak Corporation
$.001 par common
Riddell Sports Inc.
$.01 par common
Ross Systems, Inc.
No par common
Scigenics, Inc.
Units (expire 05-31-96)
Shoreline Financial Corporation
$1.00 par common
Short, C.A., International, Inc.
No par common
Sierra Semiconductor Corporation
No par common
Sierra Tahoe Bancorp
No par common
Software Spectrum Inc.
$.01 par common
Staodyn, Inc.
W arrants (expire 06-01-93)
State Auto Financial Corporation
No par common
State of the Art, Inc.
No par common
Sunrise Technologies, Inc.
No par common
Tanknology Environmental, Inc.
$.01 par common
TSI Corporation
$.02 par common
U.S. Homecare Corporation
$.01 par common
U.S. Long Distance Corporation
$.01 par common
United American Healthcare
Corporation
No par common
Wheatley TXT Corporation
$.01 par common
Wisconsin Central Transportation
Corporation
$.01 par common
Xvplex, Inc.
$.01 par common
Additions to the List o f Foreign Margin
Stocks
Aoyama Trading
¥ 50 par common
Chubu Electric
¥ 500 par common
Daiei, Inc., The
¥ 50 par common
Daiwa Kosho Lease Co., Ltd.
¥ 50 par common
Hihon Unisys, Ltd.
¥ 50 par common
Iwatani International Corp.
¥ 50 par common

35808

Federal Register / Vol. 56, No. 145 / Monday, July 29, 1991 / Rules and Regulations

Japan Airlines Co., Ltd.
¥ 50 par common
Joshin Denki Co., Ltd.
¥ 50 par common
Komori Corporation
¥ 50 par common
Lion Corporation
¥ 50 par common
Long Term Credit Bank of Japan, Ltd.
¥ 50 par common
Matsushita Electric Industrial Co., Ltd.
¥ 50 par common
Mercian Corpora tion
¥ 50 par common
Nintendo Co., Ltd.
¥ 50 par common
Sanrio Co., Ltd.
¥ 50 par common
Sega Enterprises, Ltd.
¥ 50 par common
Sumitomo Realty & Development Co.,
Ltd.
¥ 50 par common
Takasago Thermal Engineering Co.
¥ 50 par common
TDK Corporation
¥ 50 par common
Yurtec Corporation
¥ 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
285.2(c)(18}), July 23,1991.
W illiam W . W iles,

Secretary of the Board.
[FR Doc. 91-17786 Filed 7-28-91; 8:45 am]
BILLING CODE 6210-01-M

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