[Federal Register Volume 62, Number 17 (Monday, January 27, 1997)]
[Rules and Regulations]
[Pages 3773-3779]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-1862]


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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; 
List of Foreign Margin Stocks

AGENCY: Board of Governors of the Federal Reserve System.

ACTION: Final rule; determination of applicability of regulations.

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SUMMARY: 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 and the 
previous Foreign List.

EFFECTIVE DATE: February 10, 1997.

FOR FURTHER INFORMATION CONTACT: Peggy Wolffrum, Securities Regulation 
Analyst, Division of Banking Supervision and Regulation, (202) 452-
2781, Board of Governors of the Federal Reserve System, Washington, 
D.C. 20551. For the hearing impaired only, contact Dorothea Thompson, 
Telecommunications Device for the Deaf (TDD) at (202) 452-3544.

SUPPLEMENTARY INFORMATION: Listed below are the deletions from and 
additions to the Board's OTC List, which was last published on October 
28, 1996 (61 FR 55555), and became effective November 12, 1996. A copy 
of the complete OTC List is available from the Federal Reserve Banks.
    The OTC List includes those stocks traded over-the-counter in the 
United States 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 rules 
approved by the Securities and Exchange Commission (SEC). 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 SEC and at the National 
Association of Securities Dealers, Inc. and will be incorporated into 
the Board's next quarterly publication of the OTC List.
    Also listed below are the deletions from and additions to the 
Foreign List which was last published on October 28, 1996 (61 FR 55555) 
and became effective November 12, 1996. 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 approximately a two-
week delay before the Lists are effective.

List of Subjects

12 CFR Part 207

    Banks, Banking, Credit, Margin, Margin requirements, National 
Market System (NMS Security), Reporting and recordkeeping requirements, 
Securities.

12 CFR Part 220

    Banks, Banking, Brokers, Credit, Margin, Margin requirements, 
Investments, National Market System (NMS Security), Reporting and 
recordkeeping requirements, Securities.

12 CFR Part 221

    Banks, Banking, Credit, Margin, Margin requirements, National 
Market System (NMS Security), Reporting and recordkeeping requirements, 
Securities.

12 CFR Part 224

    Banks, Banking, Borrowers, Credit, 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 (Regulation G), 12 CFR 
220.2 and 220.17 (Regulation T), and 12 CFR 221.2(j) and 221.7 
(Regulation U), there is set forth below a listing of deletions from 
and additions to the OTC List and the Foreign List.

Deletions From the List Of Marginable OTC Stocks

Stocks Removed for Failing Continued Listing Requirements

50-OFF STORES, INC.
    $.01 par common
ASTROSYSTEMS, INC.
    $.10 par common
BRADLEY PHARMACEUTICALS, INC.
    Class A, warrants (expire 11-12-96)
    Class B, warrants (expire 11-12-96)
    Class D, warrants (expire 12-09-96)
CAM-NET COMMUNICATIONS NETWORK, INC.
    No par common
CREATIVE TECHNOLOGIES CORP.
    $.03 par common
CRYOMEDICAL SCIENCES, INC.
    $.001 par common
D & N FINANCIAL CORPORATION
    Warrants (expire 12-31-96)
EDMARK CORPORATION
    No par common
EMBREX, INC.
    Warrants (expire 11-07-96)
ENCON SYSTEMS, INC.
    $.01 par common
EUROMED, INC.
    $.01 par common
EVERGREEN MEDIA CORPORATION
    6% convertible exchangeable preferred
FIRST COMMERCE CORPORATION
    $25.00 par cumulative preferred
GENSIA, INC.
    Warrants (expire 12-31-96)
    Rights (expire 12-31-96)
GENZYME CORPORATION

[[Page 3774]]

    Series N, warrants (expire 12-31-96)
GRANT GEOPHYSICAL INC.
    $.002 par common
    $.01 par convertible exchangeable preferred
HEALTHCARE IMAGING SERVICES, INC.
    Class B, redeemable warrants (expire 11-12-96)
HYCOR BIOMEDICAL, INC.
    Warrants (expire 08-07-98)
ITALIAN OVEN, INC., THE
    $.01 par common
JG INDUSTRIES, INC.
    No par common
KRUG INTERNATIONAL CORP.
    Warrants (expire 01-27-98)
L. L. KNICKERBOCKER COMPANY
    Warrants (expire 01-24-97)
LAM RESEARCH CORPORATION
    6% convertible subordinated debentures due 2003
MEMOREX TELEX N.V.
    American Depositary Receipts
MULTI-MARKET RADIO, INC.
    Class A, warrants (expire 03-23-99)
NASTECH PHARMACEUTICAL COMPANY INC.
    Warrants (expire 12-07-96)
NATIONAL CAPITAL MANAGEMENT CORPORATION
    $.01 par common
NEOPROBE CORPORATION
    Class E, warrants (expire 11-12-96)
NEOSTAR RETAIL GROUP, INC.
    $.01 par common
NEOZYME II CORPORATION
    Units (expire 12-31-96)
NOVATEK INTERNATIONAL, INC.
    No par common
OLYMPIC FINANCIAL LTD. (MN)
    8% cumulative convertible exchangeable preferred
ONBANCORP, INC. (NY)
    6.75% Series B, cumulative preferred
PDK LABS, INC.
    Class C, warrants (expire 04-14-97)
PROSPECT GROUP, INC., THE
    $.50 par common
SANCHEZ COMPUTER ASSOCIATES, INC.
    Rights (expire 12-18-96)
SMITH TECHNOLOGY CORPORATION
    $.01 par common
SPRECKELS INDUSTRIES, INC.
    Class A, $.01 par common
STAT HEALTHCARE, INC.
    Warrants (expire 04-21-98)
TEE-COMM ELECTRONICS, INC.
    Purchase warrants (expire 11-22-96)
TRANS WORLD GAMING CORPORATION
    $.001 par common Warrants (expire 12-15-99)
WASHINGTON MUTUAL INC.
    Series D, $1.00 par convertible perpetual preferred
WHARF RESOURCES, LTD.
    No par common

Stocks Removed for Listing on a National Securities Exchange or 
Being Involved in an Acquisition

A+ NETWORK, INC.
    $.01 par common
ACCUSTAFF INCORPORATED
    $.01 par common
ADDINGTON RESOURCES, INC.
    No par common
AEQUITRON MEDICAL, INC.
    $.01 par common
AG SERVICES OF AMERICA, INC.
    No par common
AMERICAN TRAVELLERS CORPORATION
    $.01 par common
AMTROL INC.
    $.01 par common
ARMOR ALL PRODUCTS CORPORATION
    $.01 par common
BETTIS CORPORATION
    $.01 par common
BIG B, INC.
    $.01 par common
BIO-DENTAL TECHNOLOGIES CORPORATION
    $.01 par common
BOATMEN'S BANCSHARES, INC. (Missouri)
    $1.00 par common
    Depositary Shares
BOSTON TECHNOLOGY, INC.
    $.001 par common
BUTLER MANUFACTURING COMPANY
    No par common
BWAY CORPORATION
    $.01 par common
CAREMATRIX CORPORATION
    $.01 par common
CASCADE CORPORATION
    $.50 par common
CENTER FINANCIAL CORPORATION
    $1.00 par common
CENTRAL JERSEY FINANCIAL CORPORATION
    $1.00 par common
CHARTER POWER SYSTEMS, INCORPORATED
    $.01 par common
CITIZENS BANCORP (Maryland)
    $2.50 par common
COLONIAL DATA TECHNOLOGIES CORPORATION
    $.01 par common
COMSTOCK RESOURCES, INC.
    $.50 par common
CONSOLIDATED PRODUCTS, INC.
    No par common
CONTINENTAL WASTE INDUSTRIES, INC.
    $.001 par common
CULP, INC.
    $.05 par common
CUPERTINO NATIONAL BANCORP (California)
    No par common
DATALOGIX INTERNATIONAL, INC.
    $.01 par common
DAVCO RESTAURANTS, INC.
    $.001 par common
DELPHI FINANCIAL GROUP, INC.
    Class A, $.01 par common
DEPOSIT GUARANTY CORP.
    No par common
ELECTROSTAR, INC.
    $.01 par common
FALCON DRILLING COMPANY, INC.
    $.01 par common
FAMILY BANCORP (Massachusetts)
    $.10 par common
FARMERS & MECHANICS BANK (Connecticut)
    $.01 par common
GENETICS INSTITUTE, INC.
    Depositary Shares
GMIS INC.
    $.01 par common
GREENSTONE INDUSTRIES, INC.
    $.001 par common
    Warrants (expire 07-20-99)
HOME FEDERAL CORPORATION (Maryland)
    $1.00 par common
HOME FINANCIAL CORPORATION
    $.10 par common
IMPERIAL BANCORP (California)
    No par common
IOMEGA CORPORATION
    $.0333 par common
IPSCO INC.
    No par common
JEFFERSON BANCORP, INC. (Florida)
    $1.00 par common
JP FOODSERVICE, INC.
    $.01 par common
KASH N KARRY FOOD STORES, INC.
    $.01 par common
KRUG INTERNATIONAL CORP.
    No par common
LEARNING COMPANY, INC., THE
    $.01 par common
LXE, INC.
    $.01 par common
MAGNA GROUP, INC.
    $2.00 par common
MAIL-WELL, INC.
    $.01 par common
META-SOFTWARE, INC.
    No par common
METROPOLITAN BANCORP (Washington)
    $1.00 par common
MFS COMMUNICATIONS COMPANY, INC.
    $.01 par common
    Depositary Shares
MOUNTAIN PARKS FINANCIAL CORPORATION
    $.001 par common
MULTI-MARKET RADIO, INC.
    Class A, $.01 par common
NEOPHARM, INC.
    $.000429 par common
NORTH SIDE SAVINGS BANK (New York)

[[Page 3775]]

    $1.00 par common
OM GROUP INC.
    $.01 par common
OPAL, INC.
    $.01 par common
OPEN ENVIRONMENT CORPORATION
    $.01 par common
PACIFIC REHABILITATION & SPORTS MEDICINE INC.
    $.01 par common
PARTNERRE LTD.
    $1.00 par common
PAYCO AMERICAN CORPORATION
    $.10 par common
PENRIL DATACOMM NETWORKS, INC.
    $.01 par common
PEOPLES TELEPHONE COMPANY, INC.
    $.01 par common
PET FOOD WAREHOUSE, INC.
    $.01 par common
PHYSICIANS INSURANCE COMPANY OF OHIO
    Class A, $1.00 par common
PXRE CORPORATION
    $.01 par common
READICARE, INC.
    $.01 par common
REDMAN INDUSTRIES INC.
    $.01 par common
RICHFOOD HOLDINGS, INC.
    No par common
ROCK-TENN COMPANY
    Class A, $.01 par common
ROPER INDUSTRIES, INC.
    $.01 par common
SAVOY PICTURES ENTERTAINMENT, INC.
    $.01 par common
SEACOR HOLDINGS, INC.
    $.01 par common
SITEL CORPORATION
    $.001 par common
SKYLINE CHILI, INC.
    No par common
SOFTWARE PUBLISHING CORPORATION
    No par common
ST. JUDE MEDICAL, INC.
    $.10 par common
STAT HEALTHCARE, INC.
    $.01 par common
STERLING HEALTHCARE GROUP, INC.
    $.0001 par common
SUDBURY, INC.
    $.01 par common
SUNCOAST SAVINGS & LOAN ASSOCIATION (Florida)
    $1.10 par common
    Series A, $5.00 par non-cumulative convertible preferred
SUNRISE BANCORP (California)
    No par common
SUPERCUTS, INC.
    $.01 par common
TELEBIT CORPORATION
    No par common
TODAY'S BANCORP, INC.
    $5.00 par common
TRANSNATIONAL RE CORPORATION
    Class A, $.01 par common
TRANSPORT HOLDINGS, INC.
    Class A, $.01 par common
UNION SWITCH & SIGNAL INC.
    $.01 par common
US FACILITIES CORPORATION
    $.01 par common
US ORDER, INC.
    $.001 par common
UTAH MEDICAL PRODUCTS, INC.
    $.01 par common
WALDEN BANCORP, INC.
    $1.00 par common
WESTPORT BANCORP, INC. (Connecticut)
    $.01 par common
WILLAMETTE INDUSTRIES, INC.
    $.50 par common
WORKINGMENS CAPITAL HOLDINGS, INC.
    No par common
ZYCON CORPORATION
    $.001 par common

Additions to the List of Marginable OTC Stocks

3D LABS INC. LIMITED
    $.01 par common
3DX TECHNOLOGIES, INC.
    $.01 par common
ACCELR8 TECHNOLOGY CORPORATION
    No par common
ACCENT COLOR SCIENCES, INC.
    No par common
ACCESS BEYOND, INC.
    $.01 par common
ACTRADE INTERNATIONAL, LTD.
    $.001 par common
ADVANCED AERODYNAMICS & STRUCTURES, INC.
    $.0001 par common
    Class A, warrants (expire 12-03-2001)
    Class B, warrants (expire 12-03-2001)
ADVANCED RADIO TELECOM CORPORATION
    $.001 par common
AFTERMARKET TECHNOLOGY CORPORATION
    $.01 par common
ALL-COMM MEDIA CORPORATION
    $.01 par common
ALLEGRO NEW MEDIA, INC.
    $.001 par common
ALLIN COMMUNICATIONS CORPORATION
    $.01 par common
ALYN CORPORATION
    $.001 par common
AMERICAN MATERIALS & TECHNOLOGIES CORPORATION
    $.01 par common
AMERICAN MEDSERVE CORPORATION
    $.01 par common
AMSCAN HOLDINGS, INC.
    $.10 par common
ANDEAN DEVELOPMENT CORPORATION
    Warrants (expire 11-12-2001)
ANSALDO SIGNAL, NV
    Common shares (par NLS .01)
APPLIED CELLULAR TECHNOLOGY, INC.
    $.001 par common
APPLIED IMAGING CORPORATION
    $.001 par common
AQUILA BIOPHARMACEUTICALS, INC.
    $.05 par common
ARAMEX INTERNATIONAL LIMITED
    $.01 par common
ARNOLD PALMER GOLF COMPANY
    $.50 par common
ASHTON TECHNOLOGY GROUP, INC.
    $.01 par common
AURUM SOFTWARE, INC.
    $.001 par common
AUTOBAOND ACCEPTANCE CORPORATION
    No par common
AVIRON
    $.001 par common
AWARD SOFTWARE INTERNATIONAL, INC.
    No par common
AXSYS TECHNOLOGIES, INC.
    $.01 par common
B.O.S. BETTER ONLINE SOLUTIONS LTD.
    Common stock (NIS 1.00)
BANKUNITED FINANCIAL CORPORATION (Florida)
    Series 1996, 8% par noncumulative convertible preferred
BARRINGER TECHNOLOGIES, INC.
    $.01 par common
    Warrants (expire 11-12-99)
BIACORE INTERNATIONAL AB
    American Depositary Receipts
BIG FOOT FINANCIAL CORPORATION
    $.01 par common
BITSTREAM, INC.
    $.01 par common
BONE CARE INTERNATIONAL, INC.
    No par common
BOSTON BIOMEDICA, INC.
    $.01 par common
BOWLIN OUTDOOR ADVERTISING & TRAVEL CENTER, INC.
    $.001 par common
BRAKE HEADQUARTERS U.S.A.
    $.001 par common
CAL-MAINE FOODS, INC.
    $.01 par common
CALIFORNIA FEDERAL BANK, FSB
    Secondary Contingent Litigation Recovery Participation Interests
CALYPTE BIOMEDICAL CORPORATION
    $.001 par common
CANDLEWOOD HOTEL COMPANY, INC.
    $.01 par common
CAROLINA FINCORP, INC.
    No par common

[[Page 3776]]

CB COMMERCIAL REAL ESTATE SERVICES GROUP, INC.
    $.01 par common
CD RADIO, INC.
    $.001 par common
CNS BANCORP, INC. (Missouri)
    $10.00 par common
COLT TELECOM GROUP PLC
    American Depositary Receipts
COMPOSITECH LTD.
    $.01 par common
COMPSCRIPT, INC.
    $.0008 par common
CONSOLIDATED FREIGHTWAYS CORPORATION
    $.01 par common
CREDIT MANAGMENT SOLUTIONS, INC.
    $.01 par common
CUBIST PHARMACEUTICALS, INC.
    $.001 par common
CV THERAPEUTICS, INC.
    $.001 par common
CYBERMEDIA, INC.
    $.01 par common
DANNINGR MEDICAL TECHNOLOGY, INC.
    $.01 par common
DATA TRANSLATION, INC.
    $.01 par common
DELGRATIA MINING CORPORATION
    No par common
DELIA*S INC.
    $.01 par common
DELPHOS CITIZENS BANCORP, INC.
    $.01 par common
DONNELLEY ENTERPRISE SOLUTIONS, INCORPORATED
    $.01 par common
DR. SOLOMON'S GROUP, PLC
    American Depository Receipts
DYNAMIC MATERIALS CORPORATION
    $.05 par common
EASTWIND GROUP, INC.
    $.10 par common
ECSOFT GROUP PLC
    American Depository Receipts
EDUCATION MANAGEMENT CORPORATION
    $.01 par common
EDUCATIONAL MEDICAL, INC.
    $.01 par common
EIDOS PLC
    American Depository Receipts
ELBIT MEDICAL IMAGING LTD.
    Ordinary shares (1.0 NIS)
ELBIT SYSTEMS, LTD.
    Ordinary shares (1.0 NIS)
ELTRAX SYSTEMS, INC.
    $.01 par common
EMERGENT GROUP, INC.
    $.05 par common
ENAMELON, INC.
    $.001 par common
EPITOPE, INCORPORATED
    No par common
EPL TECHNOLOGIES, INC.
    $.001 par common
EROX CORPORATION
    No par common
EXACTECH, INC.
    $.01 par common
FACTORY CARD OUTLET CORPORATION
    No par common
FEDERAL AGRICULTURAL MORTGAGE CORPORATION
    Class C, non-voting, $1.00 par common
FINANCIAL SERVICES ACQUISITION CORPORATION
    $.001 par common
    Series A, warrants (expire 11-30-2001)
    Series B, warrants (expire 11-30-2001)
FIREARMS TRAINING SYSTEMS, INC.
    No par common
FIRST COASTAL CORPORATION
    $1.00 par common
FIRST LANCASTER BANCSHARES, INC. (Kentucky)
    $.01 par common
FIRST LEESPORT BANCORP, INC. (Pennsylvania)
    $5.00 par common
FIRST MARINER BANCORP (Maryland)
    $.05 par common
FIRST REGIONAL BANCORP (California)
    No par common
FIRST VIRTUAL HOLDINGS INCORPORATED
    $.001 par common
FLETCHER'S FINE FOODS LIMITED
    No par common
FLORIDA PANTHERS HOLDINGS, INC.
    Class A, $.01 par common
FORELAND CORPORATION
    $.001 par common
FORRESTER RESEARCH, INC.
    $.01 par common
GEOTEL COMMUNICATIONS CORPORATION
    $.01 par common
GOLD BANC CORPORATION, INC.
    $1.00 par common
GOLETA NATIONAL BANK (California)
    $2.50 par common
GRANITE FINANCIAL, INC.
    $.001 par common
HEALTHDYNE INFORMATION ENTERPRISES, INC.
    $.01 par common
HEATLCARE FINANCIAL PARTNERS, INC.
    $.01 par common
HIGHWAY HOLDINGS LIMITED
    $.01 par common
    Warrants (expire 01-01-2001)
HOME FINANCIAL BANCORP (Indiana)
    No par common
HOMEGATE HOSPITALITY, INC.
    $.01 par common
IA CORPORATION I
    $.01 par common
INDEPENDENT BANK CORPORATION
    No par cumulative trust preferred securities
INDIVIDUAL INVESTOR GROUP, INC.
    $.01 par common
INDUSTRIAL HOLDINGS, INC.
    Class C, warrants (expire 01-14-99)
INFINITY FINANCIAL TECHNOLOGY, INC.
    No par common
INFORMATION MANAGEMENT RESOURCES, INC.
    $.10 par common
INLAND RESOURCES, INC.
    $.001 par common
INSCI CORPORATION
    $.01 par common
INSTRUMENTATION LABORATORY SPA
    American Depositary Receipts
INTEGRATED MEDICAL RESOURCES, INC.
    $.001 par common
INTELIDATA TECHNOLOGIES CORPORATION
    $.001 par common
INTERACTIVE FLIGHT TECHNOLOGIES, INC.
    $.01 par common
INTERNATIONAL SPEEDWAY CORPORATION
    Class A, $.01 par common
INTERNATIONAL TELECOMMUNICATION DATA SYSTEMS
    $.01 par common
IRWIN FINANCIAL CORPORATION
    No par cumulative preferred
K2 DESIGN, INC.
    $.01 par common
KEVCO, INC.
    $.01 par common
KIRLIN HOLDING CORPORATION
    $.001 par common
LARSCOM INCORPORATED
    Class A, $.01 par common
LB FINANCIAL, INC.
    $.01 par common
LEADING EDGE PACKAGING, INC.
    $.01 par common
LITHIA MOTORS, INC.
    Class A, no par common
LONDON FINANCIAL CORPORATION
    No par common
MANCHESTER EQUIPMENT CO., INC.
    $.01 par common
MASTECH CORPORATION
    $.01 par common
MAZEL STORES, INC.
    No par common
MDSI MOBILE DATA SOLUTIONS, INC.
    No par common
MEDCROSS, INC.
    $.007 par common
MEDWAVE, INC.
    No par common
MEGO MORTGAGE CORPORATION
    $.01 par common

[[Page 3777]]

METRIS COMPANIES, INC.
    $.01 par common
METROPOLITAN FINANCIAL CORPORATION
    No par common
MIAMI COMPUTER SUPPLY CORPORATION
    No par common
MICROSOFT CORPORATION
    Series A, convertible exchangeable preferred
MLC HOLDINGS, INC.
    $.01 par common
MONEY STORE, INC., THE
    No par mandatory convertible preferred
MULTICANANL PARTICIPACOES, S.A.
    American Depositary Receipts
MULTIMEDIA CONCEPTS INTERNATIONAL, INC.
    $.001 par common
N-VISION, INC.
    $.01 par common
NATIONAL SECURITIES CORPORATION
    $.02 par common
NATIONSBANK CORPORATION
    Depositary Shares
NATURAL ALTERNATIVES INTERNATIONAL
    $.01 par common
NCO GROUP, INC.
    No par common
NORTH PITTSBURGH SYSTEMS, INC.
    $.1562 par common
NUWAVE TECHNOLOGIES, INC.
    $.01 par common
O'GARA COMPANY, THE
    $.01 par common
OFFSHORE ENERGY DEVELOPMENT CORPORATION
    $.01 par common
ON COMMAND CORPORATION
    Warrants (expire 10-08-2003)
    Class B, warrants (expire 10-08-2003)
ONTRACK DATA INTERNATIONAL, INC.
    $.01 par common
OPTIMAL ROBOTICS CORPORATION
    Class A, no par common
PACIFIC CAPITAL BANCORP
    No par common
PATIENT INFOSYSTEMS, INC.
    $.01 par common
PJ AMERICA, INC.
    $.01 par common
POWERWAVE TECHNOLOGIES, INC.
    $.0001 par common
PRIMEX TECHNOLOGIES, INC.
    $1.00 par common
PRIMUS TELECOMMUNICATIONS GROUP, INC.
    $.01 par common
PROCOM TECHNOLOGY INCORPORATED
    No par common
PROSOURCE, INC.
    Class A, $.01 par common
PS FINANCIAL, INC.
    $.01 par common
PUMA TECHNOLOGY, INC.
    $.001 par common
RANKIN AUTOMOTIVE GROUP, INC.
    $.01 par common
REAL GOODS TRADING CORPORATION
    No par common
RIDGEVIEW, INC.
    $.01 par common
ROADHOUSE GRILL, INC.
    $.01 par common
ROGUE WAVE SOFTWARE, INC.
    $.01 par common
ROSLYN BANCORP, INC. (New York)
    $.01 par common
SANCHEZ COMPUTER ASSOCIATES, INC.
    No par common
SEACHANGE INTERNATIONAL, INC.
    $.01 par common
SEAMED CORPORATION
    No par common
SECURITY BANK CORPORATION (Virginia)
    $5.00 par common
SELECT APPOINTMENTS (HOLDINGS) PLC
    American Depositary Receipts
SIBIA NEUROSCIENCES, INC.
    $.001 par common
SIMULATION SCIENCES, INC.
    $.001 par common
SKYMALL, INC.
    $.001 par common
SMALLWORLDWIDE PLC
    American Depositary Receipts
SMARTALK TELESERVICES, INC.
    No par common
SOBIESKI BANCORP, INC. (Indiana)
    $.01 par common
STAGE STORES, INC.
    $.01 par common
STEEL DYNAMICS, INC.
    $.01 par common
STEINER LEISURE LIMITED
    $.01 par common
STEVEN MADDEN, LTD.
    Class B, warrants (expire 02-13-98)
STYLING TECHNOLOGY CORPORATION
    $.0001 par common
SUN HYDRAULICS CORPORATION
    $.001 par common
SYMONS INTERNATIONAL GROUP, INC.
    No par common
SYNTHETIC INDUSTRIES, INC.
    $1.00 par common
T HQ, INC.
    $.0001 par common
TCI SATELLITE ENTERTAINMENT, INC.
    Series A, $1.00 par common
    Series B, $1.00 par common
TEAM AMERICA CORPORATION
    No par common
TECHDYNE, INC.
    Warrants (expire 09-13-98)
TESCO CORPORATION
    No par common
THINK NEW IDEAS, INC.
    $.0001 par common
TICKETMASTER GROUP, INC.
    No par common
TITAN EXPLORATION, INC.
    $.01 par common
TITAN PHARMACEUTICALS, INC.
    $.001 par common
TMP WORLDWIDE, INC.
    No par common
TOWER TECH, INC.
    $.001 par common
TRAMFORD INTERNATIONAL, LTD.
    $.01 par common
    Warrants (expire 12-13-99)
TRIANGLE PHARMACEUTICALS, INC.
    $.001 par common
TTI TEAM TELECOM INTERNATIONAL, LTD.
    Ordinary shares (NIS .5)
TWINLAB CORPORATION
    $1.00 par common
TYSONS FINANCIAL CORPORATION
    $5.00 par common
U.S. FRANCHISE SYSTEMS, INC.
    $.01 par common
UNITED NATURAL FOODS, INC.
    $.01 par common
UOL PUBLISHING, INC.
    $.01 par common
UROHEALTH SYSTEMS, INC.
    $.001 par common
    Warrants (expire 03-20-97)
UROQUEST MEDICAL CORPORATION
    $.001 par common
USTEL, INC.
    $.01 par common
V-ONE CORPORATION
    $.001 par common
VERSATILITY INC.
    $.01 par common
VIASAT, INC.
    $.01 par common
VIISAGE TECHNOLOGY, INC.
    $.001 par common
VIMRX PHARMACEUTICALS, INC.
    $.001 par common
VIRAGEN, INC.
    $.01 par common
VIROPHARM, INC.
    $.002 par common
VISUAL EDGE SYSTEMS, INC.
    $.01 par common
VITECH AMERICA, INC.
    No par common
VIVID TECHNOLOGIES, INC.
    $.01 par common
VOXWARE, INC.
    $.001 par common
WEST TELESERVICES CORPORATION
    $.01 par common
WILD OATS MARKETS, INC.
    $.001 par common
WILSHIRE FINANCIAL SERVICES GROUP, INC.
    $.01 par common
WOODROAST SYSTEMS, INC.

[[Page 3778]]

    $.005 par common
WOODWARD GOVERNOR COMPANY
    $.0625 par common
WORLD HEART CORPORATION
    No par common
WORLDCOM INC.
    Depositary Shares
ZAG INDUSTRIES LIMITED
    Ordinary shares (NIS .01)

Deletions From the Foreign Margin List

AUSTRALIA

PUBLISHING AND BROADCASTING LIMITED
    Preferred, par A$1.00
TNT LIMITED
    Ordinary shares, par A$0.50

DENMARK

A/S TH. WESSEL & VETT, MAGASIN DU NORD
    C Shares, par 100 Danish krone
AARHUS OLIEFABRIK A/S
    A Shares, par 100 Danish krone
ICOPAL A/S
    Share Capital, par 100 Danish krone

FINLAND

KONE OY
    B Shares, par 50 Finnish markka
MERITA LTD
    A Shares, par 5 Finnish markka
METSA-SERLA OY
    A Ordinary Shares, par 10 Finnish markka

FRANCE

CREDIT LOCAL DE FRANCE SA
    Ordinary shares, par 100 French francs

HONG KONG

DAIRY FARM INTERNATIONAL HOLDINGS LTD.
    Ordinary shares, HK$1.00 par
HONG KONG LAND HOLDINGS, LTD.
    Ordinary Shares, $.10 par
JARDINE MATHESON HOLDINGS LIMITED
    Ordinary shares, $0.25 par
JARDINE STRATEGIC HOLDINGS LIMITED
    Ordinary shares, $.05 par
MANDARIN ORIENTAL INTERNATIONAL LIMITED
    Ordinary shares, $.05 par

ITALY

FIDIS FINANZIARIA DI SVILUPPO SPA
    Ordinary shares, par 1000 lira

JAPAN

NICHII CO., LTD.
    Y 50 par common

MEXICO

GRUPO FINANCIERO BANCOMER S.A.
    Series A, no par common

NORWAY

WILH. WILHELMSEN LIMITED AS
    B Common Shares, par Norwegian krone

PHILIPPINES

SAN MIGEUEL CORPORATION
    Common Shares, par 10 Philippine pesos

SWEDEN

MO OCH DOMSJO AB
    A Free shares, par 50 Swedish krona
TIDNINGS AB MARIEBERG
    A Free shares, par 10 Swedish krona

SWITZERLAND

CIBA-GEIGY AG
    Bearer shares, par 20 Swiss francs
CIBA-GEIGY AG
    Registered shares, par 20 Swiss francs
SANDOZ AG
    Bearer shares, par 20 Swiss francs
SANDOZ AG
    Registered shares, par 20 Swiss francs
WINTERTHUR SCHWEIZER. VERSICHERUNGS GES.
    Registered shares, par 20 Swiss francs

THAILAND

FIRST BANGKOK CITY BANK PUBLIC CO. LTD.
    Ordinary shares, par 15 Thai baht

UNITED KINGDOM

RANK ORGANISATION PLC
    Ordinary shares, par 10 p
REFUGE GROUP PLC
    Ordinary shares, par 5 p
RENTOKIL GROUP PLC
    Ordinary shares, par 2 p
THORN EMI PLC
    Ordinary shares, par 25 p

Additions to the Foreign Margin List

AUSTRALIA

NATIONAL MUTUAL HOLDINGS, LTD.
    Ordinary shares, par A$.50

DENMARK

CHEMINOVA HOLDINGS A/S
    B ordinary shares, par 100 Danish krone
CODAN FORSIKRING A/S
    Ordinary shares, par 100 Danish krone
FALCK A/S
    Ordinary shares, par 100 Danish krone
MICRO MATIC HOLDINGS A/S
    Ordinary shares, par 100 Danish krone
OSTASIATISKE KOMPAGNI (EAST ASIATIC CO., LTD.)
    Ordinary shares, par 100 Danish krone
OTICON HOLDING A/S
    Ordinary shares, par 20 Danish krone
TRYG-BALTICA FORSKIRING A/S
    Registered shares, par 20 Danish krone

FINLAND

FINNAIR OY
    Ordinary shares, par 50 Finnish markka
KEMIRA OY
    Ordinary shares, par 50 Finnish markka
ORION-YHTYMA OY
    A Series, par 10 Finnish markka
ORION-YHTYMA OY
    B Series, par 10 Finnish markka
RAISON TEHTAAT VAIH OS OY AB
    K Series common, par 10 Finnish markka
SAMPO INSURANCE CO., LTD.
    A Ordinary Shares, par 20 Finnish markka
STOCKMANN OY AB
    B Free Shares, par 20 Finnish markka
TAMRO OY AB
    Ordinary shares, par 10 Finnish markka

FRANCE

CLF-DEXIA FRANCE SA
    Ordinary Shares, par 100 French francs

GERMANY

DEUTSCHE TELEKOM
    Ordinary shares, par DM 5

NORWAY

BONHEUR AS
    Free Shares, par 5 Norwegian krone
FOKUS BANK AS
    Registered Shares, par 11 Norwegian krone
HELIKOPTER SERVICES GROUP AS
    Ordinary Shares, par 11.50 Norwegian krone
NARVESEN AS
    A Common Shares, par 5 Norwegian krone
NCL HOLDINGS AS
    Free Shares, par 2.3 Norwegian krone
NERA AS
    Ordinary Shares, par 10 Norwegian krone
NET COM AS
    A Free Shares, par 50 Norwegian krone

PHILIPPINES

SAN MIGEUEL CORPORATION
    Class B Common Shares, par 10 Philippine pesos

SINGAPORE

DAIRY FARM INTERNATIONAL HOLDINGS, LTD.
    Ordinary Shares, par $.05
HONG KONG LAND HOLDINGS, LTD.
    Ordinary Shares, par $.10
JARDINE MALLIESON HOLDINGS, LTD.
    Ordinary Shares, par $.25

[[Page 3779]]

JARDINE STRATEGIC HOLDINGS, LTD.
    Ordinary Shares, par $.05
MANDARIN ORIENTAL INTERNATIONAL, LTD.
    Ordinary Shares, $.05 par

SWEDEN

ASSI DOMAN AB
    Free Shares, par 10 Swedish krona
AVESTA SHEFFIELD AB
    Free Shares, par 10 Swedish krona
SPARBANKEN SVERIGE AB (Swedbank)
    Series A, par 10 Swedish krona
STADSHYPOTEK AB
    A Free Shares, par 10 Swedish krona

SWITZERLAND

NOVARTIS AG
    Bearer shares, par 20 Swiss francs
NOVARTIS AG
    Registered shares, par 20 Swiss francs

UNITED KINGDOM

RANK GROUP PLC
    Ordinary shares, par 10 p
RENTOKIL INITIAL (UK) PLC
    Ordinary shares, par 2 p
UNITED ASSURANCE GROUP PLC
    Ordinary shares, par 5 p

    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)), January 21, 1997.
William W. Wiles,
Secretary of the Board.
[FR Doc. 97-1862 Filed 1-24-97; 8:45 am]
BILLING CODE 6210-01-P