F e d e r a l R e s e r v e B a n k OF DALLAS ROBERT D. McTEER, JR. PRESIDENT May 7, 1993 DALLAS, TEXAS 75222 AND CHIEF EXECUTIVE OFFICER 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 broker- dealers. 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 Bank’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 ([email protected]) 25543 Federal Register Vol. 58, No. 79 Tuesday, April 27, 1993 OTC List were last published on connection with the issuance of this February 1,1993 (58 FR 6602). A copy amendment because the Board finds of the complete OTC List is available that it is in the public interest to from the Federal Reserve Banks. facilitate investment and credit The OTC List includes those stocks decisions based in whole or in part that meet the criteria in Regulations G, upon the composition of these Lists as T and U (12 CFR parts 207, 220 and 221, soon as possible. The Board has respectively). This determination also responded to a request by the public affects the applicability of Regulation X and allowed approximately a two-week (12 CFR part 224). These stocks have the delay before the Lists are effective. degree of national investor interest, the List of Subjects depth and breadth of market, and the FEDERAL RESERVE SYSTEM availability of information respecting 12 CFR Part 207 the stock and its issuer to warrant 12 CFR Parts 207,220, 221 and 224 Banks, Banking, Credit, Margin, regulation in the same fashion as Margin requirements, National Market Regulations G, T, U and X; Securities exchange-traded securities. The OTC System (NMS Security), Reporting and Credit Transactions; List cf Marglnable List also includes any OTC stock recordkeeping requirements, Securities. OTC Stocks; List of Foreign Margin designated under a Securities and 12 CFR Part 220 Stocks Exchange Commission (SEC) rule as qualified for trading in the national Banks, Banking, Brokers. Credit, AGENCY: B o a rd o f G o v e rn o rs o f th e market system (NMS security). Margin, Margin requirements. F e d e ra l Reserve System. Additional OTC stocks may be Investments, National Market System ACTION: Final rule; determination of designated as NMS securities in the (NMS Security), Reporting and applicability of regulations. interim between the Board's quarterly recordkeeping requirements. Securities, publications. They will become SUMMARY: The List of Marginable OTC automatically marginable upon the 12 CFR Part 221 Stocks (OTC List) is composed of stocks effective date of their NMS designation. Banks, Banking, Credit, Margin. iraded over-the-counter (OTC) in the The names of these stocks are available Margin requirements, National Market United States that have been determined at the Board and the SEC and will be System (NMS Security), Reporting and by the Board of Governors of the Federal incorporated into the Board's next recordkeeping requirements. Securities. Reserve System to be subject to the quarterly publication of the OTC List. margin requirements under curtain There are no new additions, deletions 12 CFR Part 224 Federal Reserve regulations. The List of or changes to the Board’s Foreign List, Banks, Banking, Borrowers, Credit, Foreign Margin Stocks (Foreign List) is which was last published February 1. Margin, Margin requirements. Reporting composed of foreign equity securities 1993 (58 FR 6602) and effective and recordkeeping requirements. that have met the Board's eligibility February 8,1993. This notice serves as Securities. criteria under Regulation T. The OTC republication of that List with a new Accordingly, pursuant to the List and the Foreign List are published effective date of May 10,1993. The four times a year by the Board. This authority of sections 7 and 23 of the Foreign List includes those securities Securities Exchange Act of 1934. as document sets forth additions to or that meet the criteria in Regulation T deletions from the previous OTC List. amended (15 U.S.C. 78g and 78w), and and are eligible for margin treatment at in accordance with 12 CFR 207.2(k) and There are no additions to or deletions broker-dealers on the same basis as from the previous Foreign List. Both 207.6 (Regulation G), 12 CFR 220.2(u) domestic margin securities. A copy of Lists were last published on February 1, and 220.17 (Regulation T), and 12 CFR the complete Foreign List is available 221.2(j) and 221.7 (Regulation U), there 1993 (58 FR 6602) and effective on from the Federal Reserve Banks. February 10.1993. is set forth below a listing of deletions from and additions to the OTC List. EFFECTIVE DATE: May 10, 1993. Public Comment and Deferred Effective FOR FURTHER INFORMATION CONTACT: Date Deletions From the List of Marginable OTC Peggy Wolffrum, Securities Regulation The requirements of 5 U.S.C. 553 with Stocks Analyst, Division of Banking respect to notice and public Stocks Removed for Failing Continued Listing Supervision and Regulation, (202) 452­ participation were not followed in Requirements 2781, Board of Governors of the Federal connection with the issuance of this Alpha 1 Biomedicals, Inc. Reserve System, Washington, DC 20551. amendment due to the objective Class B, warrants (expire 06-30-95) For the hearing impaired only, contact character of the criteria for inclusion American Steel and Wire Corporation Dorothea Thompson, and continued inclusion on the Lists $.20 par common Telecommunications Device for the Deaf specified in 12 CFR 207.6(a) and (b), AKIX Corporation $.01 par common (TDD) at (202) 452-3544. 220.17(a), (b), (c) and (d), and 221.7(a) B.M.J. Financial Corporation SUPPLEMENTARY INFORMATION: Listed and (b). No additional useful Rights (expire 03-15-93) below are additions to or deletions from information would be gained by public Calendar Capital, Inc. !he OTC List. This supersedes the last participation. The full requirements of 5 5.01 par common OTC List which was effective February U.S.C. 553 with respect to deferred Cherokee Inc. 8.1993. Additions and deletions to the effective date have not been followed in $.01 par common 25544 Federal Register / Vol. 58, No. 79 / Tuesday, April 27, 1993 / Rules and Regulations Circle Fine Art Corporation ELM Financial Servicos, Inc. Argosy Gaming Company $.10 par common $.01 par common $.01 par common Cortech, Inc. Fedfirst Bancshares Inc. Arkansas Best Corporation Rights (expire 05-24-94) $.01 par common Series A, $.01 par cumulative convertible Crest Industries, Inc. First Chattanooga Financial Corp. exchangeable preferred $.01 par comm on $1.00 par common ASECO Corporation Everex Systems, Inc. First Federal Savings & Loan Association of $.01 par common $.001 par common Fort Myers Autoimmune Inc. First Federal Savings Bank (Puerto Rico) $.01 par common $.01 par common $1.00 par comm on First Federal Savings Bank (Utah) Avecor Cardiovascular Inc. First Seismic Corporation . $1.00 par common $.01 par common $.01 par common Flagler Bank Corporation AVID Technology, Inc. Green Isle Environmental Services Inc. Class A, $.10 par common $.01 par common $.183/4 par comm on Fremont General Corporation Bancfirst Corporation (Oklahoma) Hunter Environmental Services Inc. $1.00 par common $1.00 par comm on $.10 par comm on Genesis Health Ventures Bancinsurance Corporation Imagine Films Entertainment, Inc. $.02 par common No par common Warrants (expire 07-30-93) Glamis Gold Ltd. BHC Financial, Inc. Jefferson National Bank (New York) No par common $.001 par comm on $1.00 par common Harmonia Bancorp Inc. Biosurface Technology, Inc. Main St. & Main Inc. $.01 par common $.01 par comm on Warrants (expire 09-04-96) Health Images, Inc. BKC Semiconductor Incorporated Millfeld Trading Co., Inc. $.01 par common No par common Class A, warrants (expire 09-04-96) Heekin Can, Inc. BOCA Research, Inc. NDE Environmental Corporation $.01 par common $.01 par common $.001 par common Imagine Films Entertainment, Inc. Brock Candy Company NESB Corporation $.01 par common Class A, $.01 par common $.01 par common Inforum, Inc. Brock Control Systems, Inc. Old Stone Corporation $.01 par common No par common $1.00 par common, Series B, 12% preferred Integra Financial Corporation Brookstone, Inc.