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Federal R eserve Bank OF DALLAS ROBERT D. M c T E E R , J R . May 7, 1993 P R E S ID E N T AND C H IE F E X E C U T IV E DALLAS, TEXAS 75222 O F F IC E R Notice 93-54 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 10, 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 May 10, 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 is a copy of the Federal Register announcement of revisions to the list of OTC stocks as shown on pages 25543-46, Vol. 58, No. 79, dated April 27, 1993. There are no additions to or deletions from the listing of foreign 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 Ban k ’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) 25543 Federal Register Vol. 58, No. 79 T uesday, A pril 27, 1993 FEDERAL RESERVE SYSTEM 12 CFR Parts 207,220, 221 and 224 Regulations G, T, U and X; Securities Credit Transactions; List cf Marglnable OTC Stocks; List of Foreign Margin Stocks AGENCY: B o a r d o f G o v e r n o r s o f t h e F e d e r a l Reserve System. F inal rule; determ ination of applicability of regulations. ACTION: T he List of M arginable OTC Stocks (OTC List) is com posed of stocks iraded over-the-counter (OTC) in the United States that have been determ ined b y the Board of Governors of the Federal Reserve System to be subject to the margin requirem ents u nder curtain Federal Reserve regulations. T he List of Foreign M argin Stocks (Foreign List) is com posed of foreign equity securities that have m et th e Board's eligibility criteria u n d e r Regulation T. The OTC List and the Foreign List are published four tim es a year by th e Board. T his docum ent sets forth ad d itio n s to or deletions from the previous OTC List. T here are no ad d itio n s to or deletions from the previous Foreign List. Both Lists were last pu blished on February 1, 1993 (58 FR 6602) and effective on February 10.1993. EFFECTIVE DATE: May 10, 1993. SUMMARY: OTC List w ere last pu blished on February 1,1 993 (58 FR 6602). A copy of the com plete OTC List is available from the Federal Reserve Banks. T he OTC List includ es those stocks that m eet the criteria in Regulations G, T an d U (12 CFR parts 207, 220 an d 221, respectively). T his determ ination also affects the applicability of Regulation X (12 CFR part 224). T hese stocks have the degree of national investor interest, the depth an d breadth of market, an d the availability of inform ation respecting the stock and its issuer to w arrant regulation in the same fashion as exchange-traded securities. T he OTC List also includ es any OTC stock designated u n d er a Securities and Exchange Com m ission (SEC) rule as qualified for trading in the national m arket system (NMS security). A dditional OTC stocks may be designated as NMS securities in the interim betw een the B oard's quarterly publications. T hey w ill becom e autom atically marginable upo n the effective date of their NMS designation. T he nam es of these stocks are available at the Board and the SEC an d will be incorporated into the Board's next quarterly publication o f th e OTC List. T here are no new additions, deletions or changes to the B oard’s Foreign List, w hich was last p ublished February 1. 1993 (58 FR 6602) an d effective February 8,199 3. T his notice serves as republication of that List w ith a new effective date of May 10,1993. T h e Foreign List inclu des those securities that m eet the criteria in Regulation T and are eligible for margin treatm ent at broker-dealers on the sam e basis as dom estic m argin securities. A copy of the com plete Foreign List is available from the Federal Reserve Banks. FOR FURTHER INFORMATION CONTACT: Public Comment and Deferred Effective Date Peggy W olffrum, Securities Regulation Analyst, Division of Banking S upervision and Regulation, (202) 452 2781, Board of Governors of the Federal Reserve System , W ashington, DC 20551. For th e hearing im paired only, contact Dorothea T hom pson, T elecom m unications Device for the Deaf (TDD) at (202) 452-3544. SUPPLEMENTARY INFORMATION: Listed below are add ition s to or deletions from !he OTC List. T h is supersedes the last OTC List w hich w as effective February 8.1993. A ddition s an d deletions to the T he requirem ents of 5 U.S.C. 553 w ith respect to notice and public participation w ere not follow ed in connection w ith the issuance of this am endm ent due to the objective character of th e criteria for inclusion and con tinued inclusion on the Lists specified in 12 CFR 207.6(a) and (b), 220.17(a), (b), (c) an d (d), and 221.7(a) and (b). No additional useful inform ation w ould be gained by public participation. T he full requirem ents of 5 U.S.C. 553 w ith respect to deferred effective date have not been follow ed in connection w ith the issuance o f this am en d m en t because the Board finds that it is in the pub lic interest to facilitate investm ent and credit decisions b ased in w hole or in part up on the com position of these Lists as soon as possible. T he Board has resp on ded to a request by the public an d allow ed approxim ately a two-week delay before th e Lists are effective. List o f Subjects 12 CFR Part 207 Banks, Banking, Credit, Margin, M argin requirem ents, N ational Market System (NMS Security), Reporting and recordkeeping requirem ents, Securities. 12 CFR Part 220 Banks, Banking, Brokers. Credit, M argin, M argin requirem ents. Investm ents, N ational M arket System (NMS Security), Reporting and recordkeeping requirem ents. Securities, 12 CFR Part 221 Banks, Banking, C redit, Margin. M argin requirem ents, N ational Market System (NMS Security), Reporting and recordkeeping requirem ents. Securities. 12 CFR Part 224 Banks, Banking, Borrowers, Credit, Margin, M argin requirem ents. Reporting and recordkeeping requirem ents. Securities. A ccordingly, p u rsu an t to the authority of sections 7 and 23 of the Securities Exchange Act o f 1934. as am en ded (15 U.S.C. 78g and 78w), and in accordance w ith 12 CFR 207.2(k) and 207.6 (Regulation G), 12 CFR 220.2(u) and 220.17 (Regulation T), an d 12 CFR 221.2(j) and 221.7 (Regulation U), there is set forth below a listing of deletions from and ad ditions to the OTC List. Deletions From the List of Marginable O T C Stocks Stocks Removed for Failing Continued Listing Requirements A lpha 1 B iom edicals, Inc. Class B, w arrants (expire 0 6 -3 0 -9 5 ) A m erican Steel a n d W ire C orporation $.20 par com m on AKIX C orporation $.01 p a r common B.M.J. F inancial C orporation Rights (expire 0 3 -1 5 -9 3 ) C alend ar C apital, Inc. 5.01 par com m on C herokee Inc. $.01 p a r com m on 25544 Federal Register / Vol. 58, No. 79 / Tuesday, April 27, 1993 / Rules and Regulations Circle Fine A rt C orporation $.10 par com m on Cortech, Inc. Rights (expire 0 5 -2 4 -9 4 ) Crest Industries, Inc. $.01 par com m on Everex System s, Inc. $.001 p ar com m on First Federal Savings B ank (Puerto Rico) $1.00 p a r com m on First Seism ic C orporation . $.01 p a r com m on G reen Isle E nvironm ental Services Inc. $.183/4 par com m on H u nter E nvironm ental Services Inc. $.10 p ar com m on Im agine Film s E ntertainm ent, Inc. W arrants (expire 0 7 -3 0 -9 3 ) Jefferson N ational Bank (New York) $1.00 par com m on M ain St. & M ain Inc. W arrants (expire 0 9 -0 4 -9 6 ) M illfeld T rading Co., Inc. Class A, w arran ts (expire 0 9 -0 4 -9 6 ) NDE E nvironm ental C orporation $.001 par com m on NESB C orporation $.01 p ar com m on O ld Stone C orporation $1.00 par com m on, Series B, 12% preferred Pacific International Services Corp. No par com m on Pen tair Inc. $1.50 p a r c u m ulative convertible preferred Ram tron H oldings Lim ited A m erican D epositary Receipts RCM T echnologies Inc. $.05 p a r com m on R eceptech C orporation $.01 p ar com m on Sage A nalytics International Inc. $.001 par com m on Sou thern E ducators Life Insurance Co. $.50 p ar com m on T ele-C om m unications Inc. Series A, $1.00 p a r 12% % cum ulative c o m po und ing redeem able preferred USBancorp Inc. Series A, $2,125 par convertible preferred W ashington M utual Savings Bank $1.00 par preferred stock Stocks Removed for Listing on a National Securities Exchange or Being Involved in an Acquisition ADVO, Inc. $.01 p ar com m on A lden Press C om pany $.01 p ar com m on Allm erica P roperty Sc C asualty Com panies, Inc. $1.00 par capital A pplied Biosystem s Inc. No p a r com m on A rm strong Pharm aceuticals, Inc. $.08 p ar com m on C linical H om ecare Ltd. $.01 p ar com m on Colonial C om panies. Inc. Class B, non-voting, $1.00 p a r com m on D FSoutheastem , Inc. $1.00 par com m on Diversco, Inc. $.01 p a r com m on D om inion Bankshares Corporation $5.00 p a r com m on ELM Financial Servicos, Inc. $.01 par com m on Fedfirst B ancshares Inc. $.01 par com m on First Chattanooga F inancial Corp. $1.00 p a r com m on First Federal Savings & Loan A ssociation of Fort Myers $.01 par com m on First Federal Savings Bank (Utah) $1.00 p ar com m on Flagler Bank C orporation Class A, $.10 p a r com m on Frem ont G eneral C orporation $1.00 p ar com m on G enesis H ealth V entures $.02 par com m on G lam is Gold Ltd. No p a r com m on H arm onia B ancorp Inc. $.01 p ar com m on H ealth Images, Inc. $.01 p ar com m on H eekin Can, Inc. $.01 p ar com m on Im agine Film s E ntertainm ent, Inc. $.01 p a r com m on Inforum , Inc. $.01 p ar com m on Integra Financial C orporation $5.00 par com m on KCS Energy, Inc. $.01 p ar com m on Lincoln F inancial C orporation No p a r com m on, $10.00 stated value M ercantile B ancorporation Inc. $5.00 par com m on M ontclair B ancorp Inc. $.01 p ar com m on National Savings Bank of Albany $1.00 par com m on New York B ancorp Inc. $.01 p a r com m on Piccadilly Cafeterias, Inc. No par com m on Pioneer Savings Bank (W ashington) $1.00 par com m on Puget S oun d B ancorp $5.00 par com m on Security Financial H olding Co. $.01 p ar com m on S outh Carolina Federal Corp. $1.00 par com m on U nited A m erican H ealthcare Corp. No par com m on Valley N ational C orporation $2.50 par com m on A dditions to the List of M arginable OTC Stocks A irsensors, Inc. $.001 p a r com m on W arrants (expire 03 10-96) A lam o G roup, Inc. $.10 p a r com m on A lltrista C orporation No par com m on A m cor Lim ited A m erican D epositary Receipts A m erican Federal Bank, FSB (South Carolina) $1.00 par com m on Am trol Inc. $.01 par com m on A pp lied Signal Technology, Inc. No par com m on Argosy G am ing C om pany $.01 par com m on A rkansas Best C orporation Series A, $.01 p a r cu m ulative convertible exchangeable preferred ASECO C orporation $.01 par com m on A utoim m un e Inc. $.01 p a r com m on A vecor C ardiovascular Inc. $.01 p a r com m on AVID Technology, Inc. $.01 p a r com m on B ancfirst C orporation (Oklahom a) $1.00 p a r com m on B ancinsurance C orporation No par com m on BHC F inancial, Inc. $.001 p a r com m on B iosurface Technology, Inc. $.01 p a r com m on BKC S em ico ndu ctor Incorporated No par com m on BOCA Research, Inc. $.01 p a r com m on Brock C andy C om pany Class A, $.01 p a r com m on Brock C ontrol System s, Inc. No par com m on Brookstone, Inc. $.001 par com m on B runo's, Inc. C onvertible deb en tures (due 0 9 -01 -20 09) C am po E lectronics A p p lian ces & C om puters Inc. $.10 p a r com m on C annon Express, Inc. Class B, non-voting, $.01 p a r com m on Cascade Savings Bank, FSB (W ashington) $1.00 p a r com m on Casino A m erica, Inc. $.01 p ar com m on Casino Data System s No par com m on C atalytica, Inc. $.001 p a r com m on CB B ancshares, Inc. (Hawaii) $1.00 p a r com m on Cell G enesys, Inc. $.001 p a r com m on C ham pion Indu stries, Inc. $1.00 p a r com m on C hesapeake E nergy C orporation $.01 p a r com m on C hico ’s Fas, Inc. $.01 par com m on Cocensys, Inc. $.001 par com m on Com m erce Bank (Virginia) $.01 p a r com m on C om m unity B ancorp, Inc. (New York) 7.25% Series B, cum ulative convertible preferred C om m unity H ealth C om p utin g Corporation $.001 p a r com m on C om puter O utso urcin g Services, Inc. $.01 p a r com m on Com verse T echnology, Inc. $.01 par com m on Coral Gables Fedcorp, Inc. $.01 p a r com m on Cree Research, Inc. $.01 par com m on Cryolife, Inc. $.01 p ar com m on Cyberonics, Inc. Federal Register / Vol. 58, No. 79 / Tuesday, April 27, 1993 / Rules and Regulations $.01 par com m on Davidson & A ssociates, Inc. $10.00 p a r com m on DF&R R estaurants, Inc. $.01 p a r com m on E ducation A lternatives, Inc. $.01 p a r com m on Energy B iosystem s C orporation $.01 p a r com m on E nvirotest System s, Inc. Class A, $.01 p a r com m on E quicredit C orporation $.01 par com m on Ethical H oldings L im ited A m erican D epositary R eceipts Excel T echnology, Inc. Series 1, $.001 p a r redeem able convertible preferred, W arrants (expire 0 9 -3 0 -9 7 ) Fastcom m C om m u nications C orporation $.01 par com m on Fed O ne Savings Bank, F.S.B. (W est Virginia) $.10 par com m on F inancial Institutions Insu ran ce G roup, Ltd. $1.00 par com m on First Fam ily Bank, FSB (Florida) $1.00 p a r com m on First Federal Savings Bank o f B runsw ick, Georgia $1.00 p a r com m on First Shenango Bancorp, Inc. (Pennsylvania) $.10 p a r com m on First Southern Bancorp, Inc. (N orth Carolina) No par com m on Fossil, Inc. $.01 par com m on Fram ingham Savings Bank (M assachusetts) W arrants (expire 0 1 -3 1 -9 6 ) Funco, Inc. $.01 p ar com m on General N utrition C om panies, Inc. $.01 p ar com m on Gilat Satellite N etw orks Ltd. O rdinary shares (NIS .01) Global In dustries, Ltd. $.01 p a r com m on Global Spill M anagem ent, Inc. $.001 p a r com m on G upta C orporation $.01 par com m on Gym boree C orporation, T he $.001 p ar com m on H ahn A utom otive W arehouse, Inc. $.01 p a r com m on H am ilton Bancorp, Inc. (New York) $.01 par com m on H ollyw ood Park, Inc. Depositary shares IEC E lectronics Corp. $.01 par com m on INCO Hom es C orporation $.01 par com m on Incom net Inc. No par com m on Ind epend ence F ederal Savings Bank (W ashington, D.C.) $.01 p a r com m on In d e p en d e n t E n tertainm ent G roup, Inc. $.0001 p ar com m on Intel C orporation W arrants (expire 0 3 -0 7 -9 8 ) Intelligent Surgical Lasers, Inc. No par com m on Intervisual Books, Inc. No p ar com m on Intuit Inc. $.01 par com m on Jackpot E nterprises, Inc. W arrants (expire 0 1 -3 1 -9 6 ) Jackson C ounty F ederal Bank, a F ederal Savings B ank (Oregon) Series A, $5.00 non-cum ulative convertible preferred Jefferson Savings Bancorp, Inc. (M issouri) $.01 p a r com m on JMAR Industries, Inc. $.01 p a r com m on, W arrants (expire 0 2 -1 7 98) Kenfil Inc. $.01 p a r com m on Kinder-Care Learning Centers, Inc. $.01 p a r com m on, W arrants (expire 0 4 -0 1 97) L.S.B. Bancshares, Inc. o f S outh Carolina $2.50 par com m on L andstar System , Inc. $.01 p a r com m on Leasing S olutions, Inc. No p ar com m on Liberty T echnologies, Inc. $.01 p a r com m on Lomak Petroleum , Inc. $.01 p a r com m on Lukens M edical C orporation $.01 par com m on Magal S ecurity System s Ltd. O rdinary shares M arcum N atural Gas Services, Inc. $.01 p ar com m on M arion C apital Holdings, Inc. No par com m on M ason-D ixon Bancshares, Inc. $10.00 p ar com m on M athsoft, Inc. $.01 p a r com m on McGaw, Inc. $.001 par com m on M edical Resources, Inc. $.01 p a r com m on M icrochip Technology, Inc. $.001 p a r com m on M olecular D ynam ics, Inc. $.01 par com m on M olten M etal Technology, Inc. $.01 par com m on M others W ork, Inc. $.01 par com m on N athan's Fam ous, Inc. $.01 par com m on N ational C onvenience Stores Incorporated $.01 p a r com m on NFO Research, Inc. $.01 p a r com m on N orand C orporation $.01 par com m on N orthrim Bank (Alaska) $1.00 par com m on NSA International, Inc. $.05 p a r com m on NUBCO, Inc. No par com m on O rchard S u p p ly H ardw are Stores C orporation $.01 par com m on O rthologic C orporation $.0005 p a r com m on Pacific S u nw ear of California, Inc. $.01 p a r com m on Parallan C om puter, Inc. No p a r com m on Patrick Petroleum C om pany Series B, $1.00 p ar convertible preferred Penn C entral B ancorp, Inc. (Pennsylvania) 25545 $1.25 p a r com m on Pennsylvania Gas and W ater D epositary preferred shares Peoples B ancorp Inc. (Ohio) $1.00 p a r com m on Perceptron, Inc. $.01 p a r com m on Petersburg Long D istance Inc. No p a r com m on P h ilip E nviro nm ental Inc. No p a r com m on Physician C orporation o f A m erica $.01 p a r com m on Physician s H ealth Services, Inc. Class A, $.01 p a r com m on Pikeville N ational C orporation $5.00 p ar com m on PMR C orporation $.01 p a r com m on Pow ersoft C orporation $.00167 p a r com m on Preferred H ealth Care Ltd. $.01 p ar com m on Proxim a C orporation $.001 Par com m on Q u antum C orporation 6% % convertible su b ordinated dobontures du e 2002 Recovery E ngineering, Inc. $.01 p ar com m on Regent B ancshares Corp. (Pennsylvania) Series A, $.10 par convertible preferred Resound C orporation $.01 p a r com m on Rocky Shoes & Boots, Inc. No p a r com m on Roosevelt F in an cial G roup, Inc. 6Vi% non c u m u lativ e convertible preferred Rouse C om pany, The Series A, convertible preferred stock RPM, Inc. Liquid yield op tion notes d u e 2012 S3 Incorporated $.0001 par com m on Sage A lerting System s, Inc. $.01 p a r com m on Savoy Pictures E ntertainm ent, Inc. $.01 p a r com m on Sham an Pharm aceuticals, Inc. $.01 p a r com m on Shared T echnologies Inc. $.001 p a r com m on Shoe C arnival, Inc. $.01 p a r com m on S ou thern Energy Hom es, Inc. $.0001 p ar com m on S pecialty Paperboard, Inc. $.001 p a r com m on S tand ard M anagem ent C orporation No par com m on Staples, Inc. 5% convertible su b o rd in a te d deben tures S teph an C om pany, The $.01 p a r com m on Sum itom o Bank of C alifornia, T he D epositary shares Sun B ancorp, Inc. (Pennsylvania) $2.50 par com m on S un rise B ancorp, Inc. (New York) $.10 p a r com m on S u p e rc o n d u cto r Technologies Inc. $10.00 p a r com m on S u prem a Specialties, Inc. $.01 p a r com m on T ecnom atix T echnologies Ltd. 25546 Federal Register / Vol. 58, No. 79 / Tuesday, April 27, 1993 / Rules and Regulations O rdinary shares (N1S .01 p a r value) T en co r Instrum ents No par com m on T ide W est Oil C om pany $.01 p ar com m on Tricord System s, Inc. $.01 p a r com m on U.S. Can C orporation $.01 p ar com m on U nion Bankshares, Ltd. (Colorado) $.0001 p a r com m on U niversal Electronics Inc, $.01 p ar com m on Vical Incorporated $.01 par com m on Virginia First Savings Bank, F.S.B. $1.00 p a r com m on Wall Data Incorporated No par com m on W ashington Hom es, Inc. $.01 par common Watson Pharmaceuticals, Inc. $.0033 par com m on WCT C om m unications, Inc. No p ar com m on W ordstar International C orporation W arrants (expire 0 3 -2 6 -9 6 ) By order of the Board of G overnors o f the Federal Reserve System , acting by its Director of the D ivision of B anking S upervision a n d Regulation p u rsu an t to delegated authority (12 CFR 265.7(f)(10)), A pril 20.1 993 . William W. Wiles, Secretary of the Board. [FR Doc. 93-9746 Filed 4 -2 6 -9 3 ; 8:45 am) BILLING CODE (2 1 0 -0 1 - P
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