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Federal R eserve Bank
OF DALLAS
ROBERT
D. M c T E E R , J R .
DALLAS, TEXAS
p r e s id e n t
A N D C H IE F E X E C U T I V E O F F I C E R
-r~
t
_
i n
n
.
December 7, 1994
7 5 2 6 5 -5 9 0 6
Notice 94-124
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 November 14, 1994. Also published is the List of Foreign Margin Stocks for
foreign equity securities that meet the criteria in Regulation T. The foreign margin
stocks listed are foreign equity securities eligible for margin treatment at broker-dealers.
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 14, 1994, is available from the Public Affairs Department of this
Bank upon request. Included with the list is a listing of foreign margin stocks.
ATTACHMENT
Attached is a copy of the Federal Register announcement of revisions to the
list of OTC stocks and revisions to the listing of foreign margin stocks as shown on pages
54381-84, Vol. 59, No. 209, dated October 31, 1994.
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)
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 Bank’s notice, please contact the Public Affairs Department at (214)
922-5254.
Sincerely yours,
Federal Register / Vol. 59, No. 209 / Monday, October 31, 1994 / Rules and Regulations
54381
Analyst, Division of Banking
Supervision and Regulation, (202) 4 5 2 2781, 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 and deletions
from the OTC List, w hich was last
published on July 2 5 ,1 9 9 4 (59 FR
37651), and became effective August 8,
1994. A copy of the com plete 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 warrant
regulation in the same fashion as
exchange-traded securities. The OTC
List also includes any OTC stock
designated for trading in the national
market system (NMS security) under a
rule approved by the Securities and
Exchange Commission (SEC).
Additional OTC stocks may be
designated as NMS securities in the
FEDERAL RESERVE SYSTEM
interim between the Board’s quarterly
publications. They w ill become
12 CFR Parts 207, 220, 221 and 224
automatically marginable upon the
effective date of their NMS designation.
[Regulations G, T, U and X]
The names of these stocks are available
Securities Credit Transactions; List of
at the SEC and at the National
Marginable OTC Stocks; List of
Association of Securities Dealers, Inc.
Foreign Margin Stocks
and w ill be incorporated into the
Board’s next quarterly publication of the
AGENCY: Board of Governors of the
OTC List.
Federal Reserve System.
A lso listed below are additions to and
ACTION: Final rule; determination of
deletions from the Board’s Foreign List,
applicability of regulations.
w hich w as last published on July 25,
1994 (59 FR 37651), and became
SUMMARY: The List of Marginable OTC
effective August 8 ,1 9 9 4 . The Foreign
Stocks (OTC List) is com posed of stocks
List includes those foreign securities
traded over-the-counter (OTC) in the
that meet the criteria in section 220.17
United States that have been determined
of Regulation T and are eligible for
by the Board of Governors of the Federal
margin treatment at broker-dealers on
Reserve System to be subject to the
the same basis as dom estic margin
margin requirements under certain
securities. A copy of the com plete
Federal Reserve regulations. The List of
Foreign List is available from the
Foreign Margin Stocks (Foreign List) is
Federal Reserve Banks.
com posed of foreign equity securities
P u b lic C om m ent an d D eferred E ffective
that have met the Board’s eligibility
D ate
criteria under Regulation T. The OTC
List and the Foreign List are published
The requirements of 5 U.S.C. 553 with
four times a year by the Board. This
respect to notice and public
document sets forth additions to and
participation were not follow ed in
deletions from the previous OTC List
connection with the issuance of this
and Foreign List.
amendment due to the objective
EFFECTIVE DATE: November 14,1994.
character of the criteria for inclusion
and continued inclusion on the Lists
FOR FURTHER INFORMATION CONTACT:
specified in 12 CFR 207.6(a) and (bh
Peggy Wolffrum, Securities Regulation
54382
Federal Register / Vol. 59, No. 209 / Monday, October 31, 1994 / Rules and Regulations
$.01 p ar common
Commerce Bancorp, In c (New Jersey)
Series B, cum ulative convertible preferred
Communication Intelligence Corp.
$.01 par common
Cybernetics Products, Inc.
$.01 par common
Destron Fearing Corporation
No par common
Falcon Oil & Gas Company, Inc.
$.01 par common
Franklin Bank, National Association
(Michigan)
Series A, no par convertible preferred
Warrants (expire 09-15-94)
Golden Knight Resources, Inc.
No par common
Home Theater Products Inc.
Warrants (expire 09-30-94)
List o f S u b jects
Image Business Systems Corp.
$.01 par common
12 CFR Part 207
Independence Bancorp, Inc. (New Jersey)
$ 1 , 6 6 7 par common
Banks, Banking, Credit, Margin,
Integral Systems, Inc.
Margin requirements. National Market
$.01 par common
System (NMS Security), Reporting and
International Airline Support Group, Inc.
recordkeeping requirements, Securities.
$.001 par common
International Gaming Management, Inc.
12 CFR Part 220
$.001 par common
Banks, Banking, Brokers, Credit,
International Nesmont Industrial Corp.
No par common
Margin, Margin requirements,
1RG Technologies Inc.
Investments, National Market System
$.01 par common
(NMS Security), Reporting and
Laser Pacific Media Corporation
recordkeeping requirements, Securities.
$.0001 par common
Licon International, Inc.
12 CFR Part 221
$.001 par common
Banks, Banking, Credit, Margin,
M achine Technology, Inc.
Margin requirements, National Market
No par common
M arquest Medical Products Inc.
"System (NMS Security), Reporting and
No par common
recordkeeping requirements. Securities.
Maxim Group, Inc., The
12 CFR Part 224
Warrants (expire 09-30-98)
Mechanical Technology, In c
Banks, Banking, Borrowers, Credit,
$1.00 par common
Margin, Margin requirements, Reporting Media Vision Technology, Inc.
and recordkeeping requirements,
$.001 par common
Securities.
Megacards Inc.
$.01 par common
Accordingly, pursuant to the
Megafoods Stores Inc.
authority of sections 7 and 23 of the
$.001 par common
Securities Exchange Act o f 1934, as
Micro Component Technology Inc.
amended (15 U.S.C. 78g and 78w), and
$.01 par common
in accordance w ith 12 CFR 207.2(k) and Microlog Corporation
207.6 (Regulation G), 12 CFR220.2(u)
$.01 par common
and 220.17 (Regulation T), and 12 CFR
Microprobe C orporation.
$.01 par common
221.2(j) and 221.7 (Regulation U), there
Warrants (expire 09-28-98)
is set forth below a listing o f deletions
NALCAP Holdings Inc.
from and additions to the OTC List and
No par common
the Foreign List.
Nam Tai Electronics, Inc.
Deletions From the List o f Marginable OTC
Redeemable com m on share purchase
Stocks
warrants
Corporation
Stocks Removed for Failing Continued Listing NEORX
$.02 par convertible exchangeable
Requirements
preferred
Automated Telephone Management Systems, O dd’s-N-End’s, Inc.
Inc.
$.01 par common
Series A, $1.00 par cum ulative convertible
O S F , Inc.
preferred
No par common
Body Drama, Inc.
Pace American Group
No par common
$.10 par common
CAPX Corporation
Petrominerals Corporation
Class A, w arrants (expire 07-30-95)
$.10 par common
CNL Financial Corporation
Republic Bank (California)
S1.00 par common
No par common
Restor Industries, Inc.
Oodenoll Technology Corp.
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 o f 5
U.S.C. 553 w ith respect to deferred
effective date have not been follow ed in
connection w ith the issuance of this
amendment because the Board finds
that it is in the public interest to
facilitate investm ent and credit
decisions based in w hole or in part
upon the com position of these Lists as
soon as possible. The Board has
responded to a request by the public
and allow ed approximately a two-week
delay before the Lists are effective.
$.01 par common
Warrants (expire 08-12-94)
Sports Heros, Inc.
$.001 par common
Warrants (expire 11-20-95)
Stocks Removed for Listing on a National
Securities Exchange or Being Involved in an
Acquisition
A ldus Corporation
$.01 par common
American Residential Holdings Corporation
$.04 par common
ASK Group, Inc., The
No par common
Cardinal Health Inc.
No par common
Central Pennsylvania Financial
$1.00 par common
Cohasset Savings Bank
$.10 par common
Community Health Systems. Inc.
$.01 par common
Consolidated Papers, In c
$1.00 par common
Cresmont Financial Corporation
$1.00 par common
Cumberland Federal Bancorporation, In c
(Kentucky)
$1.00 par common
Diasonics Ultrasound Inc.
$.01 par common
First Inter-Bancorp In c {New York)
$1.00 par common
Frankford Corporation, The
$1.00 par common
Gates/FA Distributing, Inc.
$.01 par common
Glendale Bancorporation (New Jersey)
$2.50 par common
Gras so Corporation
$.01 par common
H & H Oil Tool Co., Inc.
$.01 p a r common
Hallmark Healthcare Corporation
Class A, $.05 par common
International Container Systems. In c
$.01 par common
Kenfil In c
$.01 par common
Kinross Gold Corporation
No par common
L.S.B. Bancshares. In c of South Carolina
$2.50 par common
Liberty Media Corporation
Class A, $1.00 p a r common
Class B, $1.00 par common
Class E, $.01 par preferred
Liberty National Bancorp, In c
No par common
Lincoln Foodservice Products. In c
No par common
Loan America Financial Corp.
Class B, $.10 par common
McCaw Cellular Communications, Inc.
Class A, $.01 par common
Medquist, Inc.
No par common
Mid Atlantic Medical Services In c
$.01 par common
Momentum Corporation
$1.00 par common
Mr. Coffee, Inc.
$.01 par common
Nature Food Centers Inc.
$.001 par common
Newtrogena Corporation
Federal Register / Vol. 59, No. 209 / Monday, October 31, 1994 ! Rules and Regulations
$.001 par common
Newbridge Networks Corporation
No par common
Optical Radiation Corporation
$.50 par common
PDA Engineering
No par common
Pioneer Financial Corporation
$1.00 par common
Reliable Financial Corporation
$.01 par common
Sage Technologies Inc.
$.01 par common
SBC Technologies, Inc.
$.10 par common
Scripps Howard Broadcasting Co.
$.25 par common
Serving Software, Inc.
$.01 par common
Signal Technology Corporation
$.01 par common
Sphinx Pharmaceuticals Corp.
$.01 par common
Sports & Recreation, Inc.
$.01 par common
Sterling Bancshares Corporation
$.10 par common
Suburban Bancorp, Inc.
Class A, $ 1.00 par common
Sunward Technologies, Inc.
$.01 par common
Supermac Technology, Inc.
$.001 par common
TSI Corporation
$.02 par common
Warrants (expire 01-31-96}
Turf Paradise, Inc.
No par common
TVX Gold, Inc.
No par common
West Newton Savings Bank
$.10 par common
Wheatley TXT Corporation
$.01 par common
XYPLER Inc.
$.01 per common
Additions to the List o f Marginable OTC
Stocks
Aasche Transportation Services, Inc.
$.0001 par common
Adflex Solutions, Inc.
$.01 par common
Adtran, Inc
$.01 par common
Affiliated Computer Services, Inc.
Class A, $.01 par common
AK Steel Holding Corporation
7% convertible preferred
Amerilink Corporation
No par common
Aquagenix In c
$.01 par common
Warrants (expire 09-13-99)
Aran Energy Pic
American Depositary Receipts
Ariad Pharmaceuticals, Inc.
Warrants (expire 05-20-99)
Astrum International Corporation
$.01 par common
Baby Superstore, In c
No par common
Bally’s Grand, Inc.
$.01 par common
Warrants (expire 08-19-2000)
Bedford Bancshares. Inc. (Virginia)
$.01 par com mon
"Bell Cablemedia Pic
American Depositary Receipts
Benson Financial Corporation
$.01 par common
Best Products Co., In c
$1.00 par common
Bio-Dental Technologies Corporation
$.01 par common
Biomune Systems, Inc.
$.0001 par common
Business Objects S.A.
American Depositary Shares
Caledonia Mining Corporation
No par common
Carnegie Bancorp (New Jersey)
No par common
Warrants (expire 08-09-97)
Carolina First Corporation
Series 1994. no par noncum ulative
Convertible preferred
Cascade Communications Corporation
$.001 par common
Cedar Group, Inc.
$.001 par common
Central European Media Enterprises Ltd.
Class A, $.01 par common
Central Tractor Farm & Country In c
$.01 par common
Cerprobe Corporation
$.05 par common
Cherry Corporation, The
Class A, $1.00 par common
Cima Labs Inc.
$.01 par common
Citation Corporation
$.01 par common
Cleamet.Communications Inc.
Class A, non-voting, no par common
Cohu, Inc.
$1.00 par common
Comcast UK Cable Partners Ltd.
$.01 par common
Comet Software International
Ordinary shares (NIS .01)
Concord Health Group, hie.
$.001 par common
Warrants (expire 04-19-2000)
Continental Choice Care, Inc.
No par common
Units (expire 04-29-99)
Warrants (expire 07-20-99)
Corporate Express, Inc.
$.0002 par common
Cyclo3pss Medical Systems, Inc.
$.001 par common
Darling International Inc.
$.01 par common
Dorsey Trailers, Inc.
$.01 par common
Duramed Pharmaceuticals, Inc.
$.01 par common
Dwyer Group, Inc., The
$.10 p&r common
E & B Marine, Inc.
$.001 par common
Eagle Finance Corporation'
$.01 par common
Eagle Financial Corporation
$.01 par common
Enterprise Federal Bancorp Inc. (Ohio)
$.01 par common
Envirodyne Industries, Inc.
$.01 par common
Erly Industries, Inc.
$1.00 par common
Ernst Home Center, Inc.
54383
$.01 par common
Facelifters Home Systems, Inc.
$.01 par common
Family Bargain Corporation
Series A, $.01 par preferred
FCNB Corporation
$1.00 par common
Featherlite Manufacturing Inc.
No par common
Felcor Suite Hotels, Inc.
$.01 par common
FFVA Financial Corporation
$.10 par common
Fiberstars. Inc.
$.0001 par common
Financial Bancorp Inc. (New York)
$.01 par common
First Federal Bancshares of Eau Claire Inc.
$.01 par common
First Federal Savings Bank of Fort Dodge
$1.00 par common
First Merchants Acceptance Corporation
$.01 par common
First Victoria National Bank (Texas)
$5.00 par common
Flemington National Bank & Trust Company
(New Jersey)
$2.50 par common
Florida Gaming Corporation
$.10 par common
Forum Group, In c
No par common
FSF Financial Corporation
$.10 par common
Full House Resorts, Inc.
$.0001 par common
Giant Cement Holding Inc.
$.01 par common
Global Market Information, Inc.
$.01 par common
Warrants (expire 08-10-97)
Grand Toys International, Inc.
$.001 par common
Greenstone Industries. Inc.
$.001 par common
Warrants (expire 07-20-99)
Happiness Express, Inc.
$.001 par common
Harbor Federal Bancorp, Inc. (Maryland)
$.01 par common
Harris Computer Systems Corporation
$1.00 par common
Heftel Broadcasting Corporation
Class A, $.001 par common
Home Federal Savings Bank (Washington,
DC)
$.01 par common
Hubco, Inc.
Series A. $24.00 stated value preferred
stock
1DM Environmental Corporation
$.001 par common
Class A, warrants (expire 04-21-99)
Incontrol, Inc.
$.01 par common
Innkeepers USA Trust
$.01 par common
lnphynet Medical Management Inc.
$.01 par common
IPC Information Systems, fnc.
$.01 par common
lannock Limited
Common shares
lefferson Bancorp, Inc. (Louisiana)
$.01 par common
Life Bancorp Inc.
54384
Federal Register / Vol. 59, No. 209 / Monday, October 3i, 1994 / Rules and Regulations
S.01 par common
Loronix Information Systems, Inc.
$.001 par common
Macheezmo Mouse Restaurants, Inc.
No par common
Mahaska Investment Company
$5.00 par common
Marker International
$.01 par common
M atthews International Corporation
$1.00 par common
Mattson Technology Inc.
No par common
M averick Tube Corporation
$.01 par common
Media Arts Group, Inc.
$.01 par common
M eridian Sports Inc.
$.01 par common
M etrobancorp (Indiana)
No par common
Metrologic Instruments, Inc.
$.01 par common
Micro Linear Corporation
$.001 par common
Miles Homes, Inc.
Warrants (expire 04-01-97)
M iller Industries, Inc.
$.01 par common
M ilton Federal Financial Corporation
No par common
M inistor Peripherals International Ltd.
$.012454 par common
Redeemable w arrants (expire 07-29-99)
M ississippi Chemical Corporation
$.01 par common
MLF Bancorp, Inc. (Pennsylvania)
$.01 par common
Movie Gallery, Inc.
$.001 par common
National Diagnostics Inc.
No par common
W arrants (expire 09-19-97)
Network Long Distance, Inc.
$.0001 par common
Newvision Technology, Inc.
$.01 par common
W arrants (expire 03-30-95)
Redeemable Warrants (expire 08-25-99)
Noble Drilling Corporation
$1.50 convertible preferred
Norrell Corporation
No par common
Norweb Pic
A merican Depositary Receipts
Numerex Corporation
$.0001 par common
Ottawa Financial Corporation
$.01 par common
P.T. Tri Polyta Indonesia
American Depositary Receipts
Pacific Basin Bulk Shipping Ltd.
Units (expire 09-30-99)
Pennfed Financial Services, Inc.
$.01 par common
PHC, Inc.
$.001 par common
Piercing Pagoda Inc.
$.01 par common
PMT Services, Inc.
$.01 par common
PRI A utomation Inc.
$.01 par common
Prim e Residential, Inc.
$.01 par common
Professional Sports Care Management Inc.
$.01 par common
Protection One, Inc.
$.01 par common
Regent Bancshares Corp. (Pennsylvania)
$.10 par common
Series A, $.10 par convertible preferred
Rent-Way, Inc.
No par common
RF M onolithics, Inc.
$.001 par common
Rock Bottom Restaurants, Inc.
$.01 par common
SBS Engineering Inc.
No par common
Sirena Apparel Group Inc., The
$.01 p ar common
South Pointe Enterprises, Inc.
$.0001 par common
Spectrian Corporation
No par common
Sportmart, Inc.
Class A, $.01 par common
Standard Financial, Inc.
$.01 par common
Strategic Distribution, Inc.
$.10 par common
Strouds Inc.
$.0001 par common
Suburbfed Financial Corporation
$.01 par common
Sugen Inc.
$.01 p ar common
Systemsoft Corporation
$.01 par common
Target Technologies Inc.
$.01 par common
Team Rental Group, Inc.
Class A, $.01 par common
Tessco Technologies Inc.
$.01 par common
TJ Systems Corporation
$.01 par common
Tower Automotive, Inc.
$.01 par common
Truck Components, Inc.
$.01 par common
U S Xpress Enterprises Inc.
Class A, $.01 par common
Village Bancorp, Inc. (Connecticut)
$3.33 par common
W ackenhut Corrections Corporations
$.01 p ar common
Wave Systems Corporation
Class A, $.01 par common
Wave Technologies International Inc.
$.50 par common
Welcome Home, Inc.
$.01 par common
W estbank Corporation
$2.00 par common
W estern Ohio Financial Corporation
$.01 par common
Youth Services International, Inc. 1
$.01 par common
Additions to the list of Foreign Margin
Stocks
Bank of Montreal
No par common
Bank of Nova Scotia, The
No par common
Canadian Imperial Bank of Commerce
No par common
National Bank of Canada
No par common
Royal Bank of Canada
No par common
Toronto Dominion Bank, The
No par common
Deletions to the List of Foreign Margin
Stocks
Canadian Natural Resources Ltd.
No par common
OJI Paper Company Ltd.
¥50 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)), October 24,1994.
W illiam W. Wiles,
Secretary of the Board.
[FR Doc. 94-26733 Filed 10-28-94; 8:45 am]
BILLING CODE 6 2 1 0 -0 1 -P
@FedFRASER