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Federal Reserve Bank
OF DALLAS
ROBERT

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

P R E S ID E N T
AND

C H IE F

E X E C U T IV E

O F F IC E R

.

...

lnn,

August 11, 1993

DALLAS, TEXAS 75222

Notice 93-84
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 published a
revised list of over-the-counter (OTC) stocks that are subject to its margin
regulations, effective August 9, 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 August 9, 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 brokerdeal e r s .
ATTACHMENT
Attached is a copy of the Federal Register announcement of revisions
to the list of OTC stocks as shown on pages 39639-43, Vol. 58, No.
141, dated
July 26, 1993. There is one addition to and no 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, ba n k ers and oth ers a re e n c o u rag e d to u s e o n e of the following toll-free n um bers in contacting th e Federal R ese rv e Bank of Dallas:
Dallas Office (800) 333-4460; El P a s o Branch Intrastate (800) 592-1631, Interstate (800) 351-1012; H ouston Branch Intrastate (800) 392-4162,
Interstate (800) 221-0363; S an 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)

Federal Register / Vol. 58, No. 141 / Monday, July 26, 1993 / Rules and Regulations

39639

FEDERAL RESERVE SYSTEM
12 CFR Parts 207,220,221 and 224
Regulations G, T, U and X; Securities
Credit Transactions; List of Marglnabie
OTC Stocks; List of Foreign Margin
Stocks

Board of Governors of the
Federal Reserve System.
ACTION; Final rule; determination o f
applicability of regulations.

AGENCY:

The List of Marginable OTC
Stocks {OTC List) is composed 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) is
composed 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 times a year by the Board. This
document sets forth additions to and
deletions from the previous OTC List

SUMMARY:

39640

Federal Register / Vol. 58, No. 141 / Monday, July 26, 1993 / Rules and Regulations

and a deletion from the previous
Foreign List. Both Lists were published
on April 27, 1993 (58 FR 25543) and
effective on May 10,1993.
EFFECTIVE DATE: August 9, 1993.

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
FOR FURTHER INFORMATION CONTACT:
connection with the issuance of this
Peggy Wolffrum, Securities Regulation
amendment due to the objective
Analyst. Division of Banking
character of the criteria for inclusion
Supervision and Regulation, (202) 452and continued inclusion on the Lists
2781, Board of Governors of the Federal
specified in 12 CFR 207.6 (a) and (b),
Reserve System, Washington, DC 20551.
220.17 (a), (b), (c) and (d), and 221.7 (a)
For the hearing impaired only, contact
and (b). No additional useful
Dorothea Thompson,
Telecommunications Device for the Deaf information would be gained by public
participation. The full requirements of 5
(TDD) at (202) 452-3544.
U.S.C. 553 with respect to deferred
SUPPLEMENTARY INFORMATION: Listed
effective date have not been followed in
below are additions to or deletions from connection with the issuance of this
the OTC List. This supersedes the last
amendment because the Board finds
OTC List which was effective May 10,
that it is in the public interest to
1993. Additions and deletions to the
facilitate investment and credit
OTC List were last published on April
decisions based in whole or in part
27, 1993 (58 FR 25543). A copy of the
upon the composition of these Lists as
complete OTC List is available from the
soon as possible. The Board has
Federal Reserve Banks.
responded to a request by the public
The OTC List includes those stocks
and allowed approximately a two-week
that meet the criteria in Regulations G,
T and U (12 CFR parts 207, 220 and 221, delay before the Lists are effective.
respectively). This determination also
List of Subjects
affects the applicability of Regulation X
(12 CFR part 224). These stocks have the 12 CFR Part 207
degree of national investor interest, the
Banks, Banking, Credit, Margin,
depth and breadth of market, and the
Margin requirements, National Market
availability of information respecting
System (NMS Security), Reporting and
the stock and its issuer to warrant
recordkeeping requirements, Securities.
regulation in the same fashion as
exchange-traded securities. The OTC
12 CFR Part 220
List also includes any OTC stock
Banks, Banking, Brokers, Credit,
designated under a Securities and
Margin, Margin requirements,
Exchange Commission (SEC) rule as
qualified for trading in the national
Investments, National Market System
market system (NMS security).
(NMS Security), Reporting and
Additional OTC stocks may be
recordkeeping requirements, Securities.
designated as NMS securities in the
12 CFR Part 221
interim between the Board’s quarterly
publications. They will become
Banks, Banking, Credit, Margin,
automatically marginable upon the
Margin requirements, National Market
effective date of their NMS designation.
System (NMS Security), Reporting and
The names of these stocks are available
recordkeeping requirements, Securities.
at the Board and the SEC and will be
incorporated into the Board’s next
12 CFR Part 224
quarterly publication of the OTC List.
Banks, Banking, Borrowers, Credit,
Also listed below is one deletion from
Margin, Margin requirements, Reporting
the Foreign List. There are no new
and recordkeeping requirements,
additions to the Board's Foreign List,
which was last published April 27,1993 Securities.
(58 FR 25543) and effective May 10,
Accordingly, pursuant to the
1993. Stocks on the Foreign List are
authority of sections 7 and 23 of the
eligible for margin treatment at brokerSecurities Exchange Act of 1934, as
dealers pursuant to a 1990 amendment
amended (15 U.S.C. 78g and 78w), and
to Regulation T (12 CFR part 220). The
in accordance with 12 CFR 207.2(k) and
Foreign List includes those securities
207.6 (Regulation G), 12 CFR 220.2(u)
that meet the criteria in Regulation T
and 220.17 (Regulation T), and 12 CFR
and are eligible for margin treatment at
221.2(j) and 221.7 (Regulation U), there
broker-dealers on the same basis as
is set forth below a listing of deletions
domestic margin securities. A copy of
from and additions to the OTC List, and
the complete Foreign List is available
one deletion from the Foreign List.
from the Federal Reserve Banks.

Deletions From the List o f Marginable
OTC Stocks

Stocks Removed For Failing Continued
Listing Requirements
American Integrity Corporation
$.01 par common
American Rice, Inc.
$1.00 par common
Aspen Imaging International, Inc.
No par common
Auto-Trol Technology
$.01 par common
BHA Group, Inc.
Class B,
$.01 par common
Bioplasty, Inc.
$.01 par common
Blue Ridge Real Estate Company, Big
Boulder Corporation
Paired certificates
Boston Digital Corporation
$.10 par common
Cardinal Distribution, Inc,
7V<% convertible subordinated
debentures
Community Financial Corp.
$.01 par common
Erly Industries, Inc.
$1.00 par common
F & C International, Inc,
No par common
Fonic Inc.
Warrants (expire 05-20-93)
Great American Communications
Company
$.01 par common
Horizon Resources Corporation
$.01 par common
In-Store Advertising, Inc.
$.01 par common
Independent Bankgroup, Inc.
$1.00 par common
Intellicorp, Inc.
$.001 par common
Kentucky Central Life Insurance
Company
Class A, non-voting, $1.00 par
common
Masstor Systems Corporation
$.001 par common
Metallurgical Industries Inc.
Class A, $.10 par common
National Medical Waste, Inc.
$.01 par common
Nationwide Cellular Service Inc.
Warrants (expire 06-01-93)
Norsk Data A.S.
American Depositary Receipts for
Class B, non-voting shares
Optek Technology, Inc.
$.01 par common
Scios Nova Inc.
Class C, warrants (expire 06-30-93]
Spectrum Information Technologies,
Inc.
Class A, warrants (expire 06-11-93)
Sungard Data Systems Inc.
8V«% convertible subordinated

Federal Register / Vol. 58, No. 141 / Monday, July 26, 1993 / Rules and Regulations
debentures
TSL Holdings, Inc.
$.01 par common
Vest, H.D., Inc.
Warrants (expire 05-21-93)

Stocks Removed For Listing On A
National Securities Exchange Or Being
Involved In An Acquisition
Bank of East Tennessee
$2.00 par common
Brand Companies, Inc., The
$.10 par common
Cardinal Financial Group, Inc.
$.10 par common
CB & T Financial Corporation
$1.00 par common
CFS Financial Corporation
$1.00 par common
Colorado National Bankshares, Inc.
No par common
Financial Federal Corporation
$.50 par common
First Community Bancorp Inc.
$1.00 par common
Goldtex, Inc.
$.10 par common
Gran care Inc.
No par common
Gull Laboratories, Inc.
S.001 par common
Hall-Mark Electronics Corporation
$.01 par common
Home Federal Savings Bank (Colorado)
$1.00 par common
Horizon Financial Services, Inc.
$1.00 par common
Jimbo's Jumbos, Incorporation
$.001 par common
Key Centurion Bancshares, Inc.
$3,00 par common
Manitowoc Company, Inc.
$.01 par common
Midsouth Corporation
$.20 par common
Multibank Financial Corporation
$6.25 par common
Northeast Bancorp, Inc.
$5.00 par common
Nucorp, Inc.
$.05 par common
Pulitzer Publishing Company
$.01 par common
Qual-Med, Inc.
$.01 par common
Ranch Industries, Inc.
$1.00 par common
Regency Cruises Inc.
$.001 par common
Republic Capital Group, Inc.
$.10 par common
Security Tag Systems, Inc.
$.001 par common
Society for Savings Bancorp Inc.
$1.00 par common
Southern California Water Company
$5.00 par common
Southwestern Electric Service Co.
$1.00 par common

Sundowner Offshore Services, Inc.
$.01 par common
Western Financial Corporation
$1.00 par common
Additions To The List o f Marginable
OTC Stocks
3DO Company, The
$.01 par common
Abraxas Petroleum Corporation
$.01 par common
Absolute Entertainment, Inc.
No par common
ABT Building Products Corporation
$.01 par common
ACS Enterprises, Inc.
$.05 par common
Action Performance Companies, Inc.
$.01 par common
Warrants (expire 04-27-98)
AER Energy Resources, Inc.
No par common
AGCO Corporation
Depositary Shares
Alcide Corporation
$.01 par common
Aldila, Inc.
$.01 par common
Alpha 1 Biomedicals, Inc.
Warrants (expire 02-28-97)
American National Petroleum Company
$.01 par common
American Safety Razor Company
$.01 par common
American Savings Bank of Florida
$.01 par common
Amerihost Properties, Inc.
$.005 par common
Arntran, Inc.
No par common
Auspex Systems, Inc.
$.001 par common
Bancfirst Ohio Corp.
$10.00 par common
Banco de Galicia y Buenos Aires S.A.
American Depositary Shares
Bankunited Financial Corporation
(Florida)
Series 1993, $.01 par non-cumulative
convertible preferred
Barrett Business Services, Inc.
$.01 par common
Base Ten Systems, Inc.
Class B, $1.00 par common
Bell Microproducts Inc.
$.01 par common
Black Hawk Gaming & Development
Co., Inc.
$.001 par common
Class A, warrants (expire 12-31-94)
Class B, warrants (expire 06-30-96)
Blyth Holdings, Inc.
$.01 par common
Broadband Technologies, Inc.
$.01 par common
California Culinary Academy, Inc.
No par common
Cambridge Technology Partners
(Massachusetts), Inc.

39641

$.01 par common
Care Enterprises, Inc.
$.01 par common
Catalyst Semiconductor, Inc.
No par common
CDW Computer Centers, Inc.
$.01 par common
Celestial Seasonings, Inc.
$.01 par common
Charter Bancshares, Inc. (Texas)
$1,00 par common
Chatiahoochee Bancorp, Inc. (Georgia)
$1,00 par common
Citizens Bancshares, Inc. (Ohio)
No par common
Citizens Federal Bank, a Federal Savings
Bank (Florida)
8V« Series A, noncumulative
preferred
Clayton Williams Energy, Inc.
$.10 par common
Coastal Financial Corporation (South
Carolina)
$.01 par common
Commercial Bank of New York
$5.00 par common
Communication Intelligence
Corporation
$.01 par common
Concurrent Computer Corporation
$ .01 par common
CPI Aerostructures, Inc.
$.001 par common
Warrants (expire 09-16-95)
CTL Credit, Inc.
$.01 par common
Cypros Pharmaceutical Corporation
No par common
Cyrk, Inc.
$.01 par common
D.I.Y. Home Warehouse, Inc.
No par common
Daig Corporation
$.01 par common
Delta and Pine Land Company
$.10 par common
Discovery Zone, Inc.
$.01 par common
Donnkenny, Inc.
$.01 par common
Dovatron International, Inc.
$.01 par common
Drug Emporium, Inc.
7.75% convertible debentures (du8
2014)
Eagle Holdings, Inc.
No par common
ECCS, Inc.
$.01 par common
Edunetics Ltd.
Ordinary Shares, NIS .06 par value
Electroglas, Inc.
$.01 par common
Electronic Retailing Systems
International, Inc.
$.01 par common
Equinox Systems, Inc.
$.01 par common
Erox Corporation

39642

Federal Register ! Vol. 58, No. 141 / Monday, July 26, 1993 / Rules and Regulations

No par common
Evergreen Media Corporation
Class A, no par common
Excalibur Holding Corporation
$.00001 par common
F&M Bancorporation, Inc. (Wisconsin)
$.01 par common
FAR East National Bank (California)
$1.25 par common
FFBS Bancorp, Inc. (Mississippi)
$.01 par common
FFY Financial Corp. (Ohio)
$.01 par common
Fidelity New York F.S.B.
$.01 par common
FLIR Systems, Inc.
$.01 par common
Fourth Shift Corporation
$.01 par common
Frozen Food Express Industries, Inc.
$1.50 par common
Future Healthcare, Inc.
No par common
GAB Bancorp (Indiana)
$10.00 par common
Genera] Communication, Inc,
Class A, no par common
Genzyme Transgenics Corporation
$.01 par common
George Mason Bankshares, Inc.
(Virginia)
$1.66 par common
Geotek Industries
$.01 par common
Gold Reserve Corporation
No par common
Gotham Apparel Corporation
$.001 par common
Ground Round Restaurants, Inc.
$.1667 par common
Growth Financial Corp. (New Jersey)
$1.00 par common
Hallmark Healthcare Corporation
Class A, $.01 par common
Hamilton Financial Services
Corporation
$.01 par common
Harmony Holdings, Inc,
$.01 par common
Harry’s Farmers Market, Inc,
Class A, $.01 par common
Healthdyne Technologies, Inc.
$.01 par common
HEI Inc.
$.05 par common
Hollywood Casino Corporation
$.01 par common
Horizon Bancorp, Inc. (West Virginia)
$1.00 par common
Huntco Inc.
Class A, $.01 par common
Hyde Athletic Industries, Inc.
Class B, $.33V3 par common
Image Business Systems Corporation
$.01 par common
Independence Bancorp, Inc. (New
Jersey)
$1,667 par common
industrial Scientific Corporation

$.10 par common
Information Resource Engineering, Inc.
$.01 par common
Interlinq Software Corporation
$.01 par common
International Imaging Materials, Inc.
$.01 par common
International Tourist Entertainment
Corp.
$.001 par common
IRG Technologies, Inc.
$.01 par common
IVF America, Inc.
$.01 par common
Series A, $1.00 par cumulative
convertible preferred
Jabil Circuit, Inc.
$.01 par common
Jackson County Federal Bank, a Federal
Savings Bank (Oregon)
$1.00 par common
Kent Financial Services, Lie.
$.10 par common
Laser Vision Centers, Inc,
$.01 par common
Laurel Savings Association
(Pennsylvania)
$1.00 par common
LCI International, Inc.
$.01 par common
LF Bancorp, Inc. (Mississippi)
$.01 par common
Lottery Enterprises, Inc,
$.01 par common
Lunn Industries, Inc.
$.01 par common
Magnetic Technologies Corporation
$.15 par common
Mariner Health Group, Inc.
$.01 par common
Martin Color-Fi, Inc.
No par common
MBLA Financial Corporation (Missouri)
$.01 par common
Medical Care America, Inc.
7% convertible debentures (due 2015)
Megahertz Corporation
$.004 par common
Megatest Corporation
$.001 par common
Metatec Corporation
Class A, $.01 par common
Metro Financial Corporation (Georgia)
$1.00 par common
MFS Communications Company, Inc.
$.01 par common
Microcarb Inc.
$.01 par common
Mississippi Valley Bancshares, Inc.
(Missouri)
$1.00 par common
National Convenience Stores, Inc.
Warrants (expire 03-09-98)
National Home Centers, Inc.
$.01 par common
Northern Springs Co., Inc.
Class A, $.01 par common
Northstar Health Services, Inc.
$.01 par common

Northwestern Steel and Wire Company
$.01 par common
Norwood Promotional Products, Inc.
No par common
O ’Reilly Automotive, Inc.
$.01 par common
Old America Stores, Inc.
$.01 par common
Opti, Inc.
No par common
Pacific International Services
Corporation
No par common
Papa John’s International, Inc,
$.01 par common
Paul Harris Stores, Inc.
$.01 par common
People’s Bank (Connecticut)
8.5% Series A, No par convertible
preferred
People’s Choice TV Corp.
$.01 par common
Petroleum Geo-Services A/S
American Depositary Receipts
Phycor, Inc.
6.5% convertible subordinated
debentures (due 2003)
Pinnacle Micro, Inc.
$.001 par common
Pittencrieff Communications, Lie,
$.01 par common
Primadonna Resorts, Inc.
$.01 par common
Projectavision, Inc.
$.0001 par common
Quad Systems Corporation
$.03 par common
Quality Products, Inc.
$.00001 par common
Random Access, Inc.
$.0001 par common
RE Capital Corporation
$.10 par common
Regal Cinemas, Inc,
No par common
Regional Acceptance Corporation
No par common
Reliable Life Insurance Company, The
Class A, $1.00 par common
Reno Air, Inc.
$.01 par common
Resource Mortgage Group, Inc. (South
Carolina)
$.01 par common
Rexall Sundown, Inc.
$.01 par common
Rhodes, Inc.
$.01 par common
Robert Mondavi Corporation, The
Class A, No par common
Rochester Community Savings Bank,
The
Series B, $1.00 par non-cumulative
convertible preferred
Safety 1st, Inc.
$.01 par common
Sanmina Corp.
$.01 par common
Santa Cruz Operation, Inc., The

Federal Register / Vol. 58, No. 141 / Monday, July 26, 1993 / Rules and Regulations
No par common
Satcon Technology Corporation
$.01 par common
Seaman Furniture Company, Inc.
$.01 par common
Shiloh Industries, Inc.
$.01 par common
Signal Technology Corporation
$.01 par common
Silver King Communications, Inc.
$.01 par common
Sodak Gaming, Inc.
$.01 par common
Spectrum Signal Processing Inc.
No par common
St. Francis Capital Corporation
$.01 par common
Stanley Furniture Company, Inc.
$ 02 par common
State Financial Services Corporation
Class A, $.10 par common
Station Casinos, Inc.
$.01 par common
Stolt Comex Seaway S.A.
$2.00 par common
Summit Bancshares, Inc, (Texas)
$2,50 par common
Suncoast Savings & Loan Assoc. FSA
Series A, $5.00 par non-cumulative
convertible preferred
Sundance Homes, Inc.
$.01 par common
Sunglass Hut International, Inc.
$.01 par common
Supreme International Corporation
$.01 par common
Swisher International, Inc.
$.01 par common
Warrants (expire 04-21-98)
T R Financial Corp.
$.G1 par common
Telor Ophthalmic Pharmaceuticals, Inc.
$.001 par common
Therapeutic Discovery Corporation/Alza
Corporation
Units (expire 12-31-99)
Titan Holdings. Inc.
$.01 par common
Titan W'heel International, lac.
No par common
Touchstone Applied Science Associates,
Inc.
$.0001 par common
Trico Bancshares (California)
No par common
United Mobile Homes, Inc.
$.10 par common
Valley Bancorp, Inc. (Pennsylvania)
$5.00 par common
West Coast Bancorp, Inc. (Florida)
$1.00 par common
Wind River Systems, Inc.
$.01 par common
Zaring Homes, Inc.
No par common

Deletion from the List o f Foreign Margin
Stocks
Joshin Denki Company, Ltd.

¥ 5 0 par common
By order of the Board of Governors of the
Federal Reserve System, acting by its Director
of the Division of Banking Supervision and
Regulation pursuant to delegated authority
(12 CFR 265.7(f)(10)), July 20,1993.
W illiam W. Wiles,
Secretary of the Board.
(FR Doc. 93-17665 Filed 7-23-93; 8.45 ami
B1LUKQ CODE *210-01-?

39643

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